A deed made without consideration for the sole purpose of correcting an error in the description of the parties or of the premises conveyed is not taxable. This exclusion only applies if:

1. (1) The property interest in the correctional deed is identical to the property intended to pass with the original deed.
2. (2) The parties treated the property interest described in the correctional deed as that of the grantee from the time of the original transaction.
3. (3) The parties have not treated the property interest described in the original deed as the property of the grantee from the time of the original transaction.

Authority

The provisions of this § 91.151 issued under section 1107-C of the Tax Reform Code of 1971 (72 P. S. § 8107-C).

Source

The provisions of this § 91.151 adopted September 9, 1988, effective September 10, 1988, 18 Pa.B. 4096.

Cross References

This section cited in 61 Pa. Code § 91.164 (relating to quit claim deeds); and 61 Pa. Code § 91.193 (relating to excluded transactions).