Untitled Texas Attorney General Opinion ( 1939 )

F``NRI-~ 27, 1939 Eouorabla Joe P. Plaok county JqoIney Uenard, Texas Daar Sir: OpQl.lon NCL O&M ~,, :Y ~.Rer: Mwt~atamp bd:dfSIXsd to deed of tru&refInaasIhg pre-erlstlhglndebtednsse. Us ars In reoeipt of your letter of February SS, 1999, outlining the rollowIng raots: In 1927, a parson acquired 9,000 )ares of land, exesutlngvendor~s lie& notes for a $srt oi the pwhmie price, Now, the debtor Is ~bomowIng mousy rr0m tgrd py$,$se ylth vf?lQ&.$$Pw..0rr the vsndor'o 'Ofefi"ho3%',and has 6xeouted deeds or trust to aooure suoh third parties In the payment or the lndebtsduees, whIah Is ranswed and extended by new notes payable to subh third pastIes. Agreements hare bean sreoutsd showing the paysmut af the old obligationwith the money-so borrowdfrcnnsaidth5xd 'partiesixndsubmgating the letter to the lIehs of the original vendor of the land. You ask our oplniorr. as to whether the deeds of trust rsssutly so exsoutsd must be stanpbd~uudsr Artisle 70470, Revised Statutes, whIoh roads In part a8 r0ii0rs: "(a) Except as herein otherwise provided, thers Is hereb levied aud assessed a tax of ten oents (1OQ1on saoh om hundred dollars ($100) or fraotlon thsreor, over the first tro hundred dollars (&OO), on all notes and obllgatlons eeourea by ohattel mortgage, deed'or tNSt, ineahanla*alien oontraat, vendor's lien, aondl- tlonal sales aontraot and ill instrumentsof a sImIlar nature which are riled or reoorded In the oiflae of the County Clerk tier the regis-, tration Laws or this Stata; provlalng thst uo tax shall be ltied on instrumentsfor an amount .I . ortvm LmCred dollars ($200) of less. After t:ie effective dn.to of this Act, ex- ce?t cm hcreinnfter ~rovlded;~ no iustru- mnt cresting a Lien 0r any ohzrocter to secure the :>e.yment0r mney, or reserving title to any po3rt.y until the purchase Imice thereof shn3.1.hnvc been paid, slmll bc flied or redorded by the County Clerk iiit:Lis Stnte until there has been offixed to such lnntrumnt st%Ii?S ln.accorCsnco with the provlslons of this The situatlo~ whloh yol.lJoutllnemis squarely within t:ro exception pm dad ln the last quoted sentence of the above Act, and on;lch tie have underlined. Such deeds of trust are not rmulred to beer the stt?mpSs end your question in., therefore, ;iiven D negative ausiver. . v. -4~ .. POWS V!?r;r tNi;r BY Glenn Ii. Lewis ASSIStent