4%
OFFICE OF THE ATTORNEY GRNRRAL OF TRXAR
AUSTIN
maorablo Char1.yl,dchart
stat. Trsasurer
mlstlB*Tex8a
Dbar sir;
hl8,1940 yourubmlt
d, the r&doc; ~tur-
erte4 bt thr CountyClark
8 rullBg rroa roll
l No te Stb r @ s be roqulrrb OB
ho grantee amme a pm-
bte4nrssI ruoh pm-exlstiag in-
lng sroure4 by a llea on rhioh
state Wote stamps were not aid *hen It raw
ills4 ror feoor4,bsoaum t ti l lien was In
retor of .anlnstrumentnllt~ of the Podoral
dorernumnt that was oxen@ from the paymat
of suoh tax"i'
Eonorablo
m our opinionNo. O-132& it was held that en
asaumptlonand pronlso to pa7 b7 the vendee In n deed of
a pro-etirtlngl&m In4rbtodaem not therotoforostamped
wuld be subjectto tho oxolaestamp tax levied by Artloio
70470,Vbrnoah maotatod ClrIl Statutes,upon the theory
that UQOLIthe as tlon b7 the vendee in a deed o? a o-
ezilstlng ob lgatlono? the mnd+n, equityImp1p"
debt or""p es
a lien to sooure the ptIr?ormaBoo o? the assumption.
30 think the holding a? the oltod o~lnlon *ould
be ontlrolyepplloabloto the Instantquestion despltmthe
faot that the or&&al fadebtedaor8, paymento# vhloh 18
aesuamdIn the doe4 lnv&lved,vns not aubjeot,upon reoorda-
tion to tbo exolno starap tar levied by Article70470,v.A.C.S.,
booausethe lnetrment etidonoIngsuoh Indebtedness ran In
iavor of M idstrumentrllty o? th,eFOderal Government vhloh
enjoyedand odmltto4Imnunlty?rou state taxation. T&e
equitablelien obl&atIon oroatedby the oxeoutlono? tbe
deed in question,aontalningthe express assumptionoxid prom-
ise to pap doe8 not run Ia istor o? this lnstruzmntallty a?
the Federai Government,but rather In iarm o? the Vendor In
the Instrument, ~aprivate IndIvIdual,sub oot in all tb 8
to the tar laws of Texas. Iionoe, the exeiso tax In quos % on
aocrue6In cotieotlonrlth the reoordlng OS the deed oon-
taIn* the assumptionagreement,but ltsazount1s dotemIned
and measuredby the-amount o? the pro-exlatlnglndsbtedness.
The ?acrtthat suoh pro-exI6tingIndebtedness, or rather the
instrumentovidenolngsaam,was not 6ubJootto this tar, does
not, ln our oplnlon, destroy the applloatlono? OpinionNo.
O-1328 to thla question.
we aooordlnglyansweryour questionIn the arrlr-
matlvo and onolosefor UT oonrenIono~and lnionnatlona
COPY Ot OUT OpinlOA BO. r-1320, ro?orrod to In the above
dli?loU6SLOn.
Yours vex-ytruly
C333iULOF TXxS
tWl'O~ESEY
APPROVEDMY 2, 1940
,
ATTORNEY GENEHAL 03 i’iX4S