AN ACT to amend and reenact subsection 6 of section 11-18-02.2 of the North Dakota Century Code, relating to statements of full consideration.
Summary
SB 2152 amends North Dakota’s law on “statements of full consideration” for real estate deeds by expanding the list of transactions that are exempt from the requirement. The bill keeps the existing exemption categories and adds a new exemption for agricultural lands of less than 80 acres. In practical terms, certain deed transfers involving small agricultural parcels would no longer need to include a full consideration statement under section 11-18-02.2.
The bill is narrowly focused on property transfer reporting requirements rather than changing property tax rates, ownership rules, or deed validity. It affects parties involved in exempt real estate transactions, especially owners and buyers of smaller agricultural tracts, as well as public utilities, family transfers, estate settlements, foreclosure and tax sale transactions, nonprofit transfers, quitclaim deeds, and other categories already listed in the statute.
Impact
SB 2152 changes subsection 6 of section 11-18-02.2 of the North Dakota Century Code by adding agricultural lands under 80 acres to the list of deed transactions excluded from the full consideration statement requirement. This means county recorders and parties to qualifying transfers will not need to provide that statement for those small agricultural parcels, reducing filing obligations for those transactions. The bill leaves the broader structure of the statute intact and only adjusts the scope of exemptions.
Sentiment
The bill appears to have been received favorably overall, with strong bipartisan support in both chambers. It passed the Senate 45-2 and the House 75-16, indicating broad agreement on the need for the exemption. The vote margins suggest the measure was generally viewed as a technical or administrative clarification rather than a controversial policy change.
Contention
There is little evidence of major controversy in the available record, but the recorded no votes in both chambers indicate some lawmakers may have had reservations about expanding exemptions from disclosure requirements. Potential concerns likely centered on reduced transparency in real estate transaction reporting, especially for agricultural land transfers, though no committee testimony is available to identify specific arguments or opponents. Support appears to have come from sponsors and members who viewed the change as a practical adjustment for small farm property transactions.
A BILL for an Act to amend and reenact subsection 6 of section 11-18-02.2 of the North Dakota Century Code, relating to exceptions for providing statements of full consideration.
AN ACT to amend and reenact subsection 1 of section 54-10-14, subsection 1 of section 54-10-15, and sections 61-35-09 and 61-35-10 of the North Dakota Century Code, relating to oversight of water districts.