Part A
1) PP = $ 89,000
Transfer Tax Due = ___$90.00____________________
2) PP = $103,700
Transfer Tax Due = ___$103.70_____________________
3)(a) PP = $111,699
Transfer Tax Due = ___$111.70_____________________
3(b) Would your answer to 3(a) change if the PP was $111,623? Why or why

No, the answer would not change because according to the Transfer Tax formula, you must
round the transfer tax amount due to the next highest 10 cent interval. The original amount
due would be $111.62 but for transfer tax purposes the amount would be the same as 3(a) once
you round to the next highest 10 cent interval giving you $111.70.
Part B
1. The heading reads QUITCLAIM DEED , this should be bold but no caps or underline
2. Caption should look like the following:
State of Georgia
County of Gwinnett
3. THIS INDENTURE should have no caps or no comma after the phrase
4. FRANK PARISH should not be capitalized and the last name is spelled incorrectly. Should be Parrish.
5. The deed reads “Cindy” Parrish but should read Cynthia Parrish without caps.
6. Allen Parrish’s first name is misspelled; should be “Alan”
7. Instead of providing the counties in which each party resides, the deed states “individual residents
of the State of Georgia”; it should read, for example, Alan Parrish, of Gwinnett County, Georgia.
8. …as JOINT TENANTS WITH THE RIGHT OF SURVIVORSHIP, this should not be in caps
9. WITNESSETH that: should be bold but no caps and colon removed after the word “that”
10. The deed reads… “of the sum of Fifty Thousand and No/Dollars ($50,000)….since the quitclaim deed
involves the gifting of property in which money does not change hands, it should read “for Love and
Affection” instead of a dollar amount.
11. The deed reads... “and forever QUITCLAIM unto the said Grantee…”, Quitclaim should not be in all
caps
12. ALL THAT TRACT should not be all caps
13. Property description read as follows: …thence running “south” 5 degrees (should be north)….then
run south 7 degrees, 17 minutes, 67 seconds (should read 76 seconds)…thence run south 87
degrees, 25 minutes (should read 52 minutes).
14. TO HAVE AND TO HOLD should not be in all caps and should be bold
15. …the said tract or parcel of land to Grantee, (should insert: his heirs and assigns here) so that
neither Grantor nor any person or persons claiming under Grantor…….
16. IN WITNESS WHEREOF should not be in all caps and should be bold
17. …Grantor has (should insert: set grantor’s hand), signed and sealed this deed as of the day and year
first above written.
18. Remove the heading before the signature block that reads: GRANTOR
19. In signature block , Frank Parrish’s middle initial should be removed
20. Under the notary public signature, the “notarial seal” should be removed.
Part C
1. Sly owns the property according to the race statute because Sly was the grantee to first record
his deed in the public records. This statute favors the party who “wins the race to the
courthouse”.
2. According to the notice statute Sly will still be the owner of the property because he is
considered a bona fide purchaser. Sly purchased the property in good faith and for valuable
consideration while having no knowledge, constructive or actual, of any prior transfers.
3. Sly would be the owner of the property under the race-notice statue because an unrecorded
deed (Bruce) loses its priority over a subsequent recorded deed from the same vendor when the
purchaser (Sly) takes such deed without notice of the existence of the prior deed.
4. Sly will still be owner of the property because he was the first to record his deed in the public
records. He won the race to the courthouse.
5. Bruce would be the owner of the property since Sly had knowledge of Bruce’s deed. The fact
that Sly recorded is deed before Bruce is irrelevant as Bruce has a valid title according to the
notice statute.
6. Sly would be owner of the property as the race-notice statute protects those who are first to
record his or her deed.