Tax Type
Recordation Tax
Description
Extension and Modification Agreement;New Obligation Created
Topic
Documents Subject to Tax
Date Issued
03-01-1971
An instrument entitled "Extension and Modification Agreement', which purports to alter the terms of payment of a certain indebtedness secured by a previously recorded deed of trust and note, is taxable on the full amount of the current indebtedness which may be secured thereby. The tax base is not the difference between the present indebtedness and the lowest balance ever due on the original debt.
Attorney General's Opinion