49 U.S.C. § 24908 — Transfer taxes and levies and recording charges
submitted 32 years ago by Pub. L. 103-272 to r/title-49-TRANSPORTATION · 84 words · no verdicts yet
Transfers of rail-property interests under this chapter are exempt from transfer taxes and levies. The parties may record instruments and release or remove qualifying earlier liens after paying the applicable service charge.
A transfer under this chapter is exempt from any United States, State, or State-subdivision tax or levy related to the transfer. After paying the generally applicable charge for the service, the transferor or transferee may record an instrument and, consistently with the “final system plan,” record release or removal of a preexisting lien or encumbrance related to the transferred interest. This section does not define the quoted term.
A transfer of an interest in rail property under this chapter is exempt from a tax or levy related to the transfer that is imposed by the United States Government, a State, or a political subdivision of a State. On payment of the appropriate and generally applicable charge for the service performed, a transferee or transferor may record an instrument and, consistent with the final system plan, the release or removal of a pre-existing lien or encumbrance of record related to the interest transferred.
Source credit: (Pub. L. 103–272, § 1(e), July 5, 1994, 108 Stat. 937.)
- 1994Enacted · Pub. L. 103-272 · 108 Stat. 937
A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-272 on 1994-07-05.
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