The bill amends subsection 6 of section 11-18-02.2 of the North Dakota Century Code, which outlines exceptions for providing statements of full consideration in property transactions. The amendment specifies that the section does not apply to various types of property transfers, including those involving public utilities, personal property, family or corporate affiliate sales, estate settlements, forced sales, and transactions involving religious, charitable, or nonprofit organizations. Additionally, it includes exceptions for sales indicating a change of use by new owners, properties not assessable by law, and agricultural lands of less than eighty acres.

Notably, the amendment modifies the language regarding the transfer of ownership of property by replacing the phrase "is given" with "is used to correct a title defect" in relation to quitclaim deeds. This change clarifies the circumstances under which a quitclaim deed is applicable, ensuring that it is specifically associated with correcting title defects.

Statutes affected:
INTRODUCED: 11-18-02.2