§ 8-850. Exemptions.

The taxes imposed by this chapter shall not be imposed on or transferred by an executor or administrator to a legatee, heir or distributee when that transfer is being made pursuant to will or by intestacy. The tax provided by this chapter additionally shall not be imposed where the transaction is affected by operation of law or upon delivery or transfer in the following instances:

(1)

From a decedent to his executor or administrator;

(2)

From a minor to his guardian or from a guardian to his ward upon attaining majority;

(3)

From an incompetent to his conservator, or similar legal representative, or from a conservator or similar legal representative to a former incompetent upon removal of disability;

(4)

From a bank, trust company, financial institution, insurance company or other similar entity, or nominee, custodian, or trustee therefor, to a public officer or commission, or person designated by such officer or commission or by a court, in the taking over of its assets, in whole or in part, under state or federal law regulating or supervising such institutions, nor upon redelivery or retransfer by any such transferee or successor thereto;

(5)

From a bankrupt or person in receivership due to insolvency to the trustee in bankruptcy or receiver, from such receiver to such trustee or from such trustee to such receiver, nor upon redelivery or retransfer by any such transferee or successor thereto;

(6)

From a transferee under subsections (1) through (5) of this section, inclusive, to his successor acting in the same capacity, or from one such successor to another;

(7)

From a foreign country or national thereof to the United States or any agency thereof, or to the government of any foreign country directed pursuant to the authority vested in the President of the United States by section 5(b) of the Trading with the Enemy Act (40 stat. 415), as amended, by the First War Powers Act (55 stat. 839);

(8)

From trustees to surviving, substitute, succeeding or additional trustees of the same trust;

(9)

Upon the death of a joint tenant or tenant by the entirety to the survivor or survivors;

(10)

From a transferee who is a participant in the H.O.M.E. (Home Ownership Made Easy) program of the State.

(Code 1993, § 9-15.7; Ord. No. 92-O-3, 1-21-1992)