Definitions.

When used in this chapter, unless otherwise required by the context: The word “District” means the District of Columbia. The word “Mayor” means the Mayor of the District of Columbia, or his duly authorized agents or representatives. The word “deed” means any document, instrument, or writing, including a security interest instrument, wherever made, executed, or delivered, pursuant to which: Title to real property is conveyed, vested, granted, bargained, sold, transferred, or assigned; An interest in real property (including an estate for life) is conveyed, vested, granted, bargained, sold, transferred, or assigned; A security interest in real property is conveyed, vested, granted, bargained, sold, transferred, or assigned; or A transfer of an economic interest in real property is evidenced pursuant to § 42-1102.02. The word “deed” shall not include a will or a lease or ground rent for a term (with renewals) that is less than 30 years. The words “real property” mean every estate or right, legal or equitable, present or future, vested or contingent in lands, tenements, or hereditaments located in whole or in part within the District. The word “consideration,” except as otherwise provided in § 42-1104, means the price or amount actually paid, or required to be paid, for real property including any mortgages, liens, encumbrances thereon, construction loan deeds of trust or mortgages or permanent loan deeds of trust or mortgages. The word “person” means an individual, partnership, society, association, joint-stock company, corporation, estate, receiver, trustee, assignee, any individual acting in a fiduciary or representative capacity, whether appointed by a court or otherwise, any combination of individuals, and any other form of unincorporated enterprise owned or conducted by 2 or more persons. The word “deficiency” as used in this chapter means the amount or amounts by which the tax imposed by this chapter as determined by the Mayor exceeds the amount shown as the tax upon the return of the person or persons liable for the payment thereof. The word “taxpayer” means any person required by this chapter to pay a tax, or file a return. The words “construction loan deed of trust or mortgage” mean a deed of trust or mortgage upon real estate which is given to secure a loan for new real estate construction. The words “permanent loan deed of trust or mortgage” mean a deed of trust or mortgage upon real estate which secures an instrument made by the same obligors who made the instrument which the construction loan deed of trust or mortgage secured, and which conveys substantially the same real estate. The phrase “controlling interest” means: More than 50% of the total voting power of all classes of stock of a corporation or more than 50% of the total fair market value of all classes of stock of a corporation; More than 50% of the capital or profits in a partnership, association, or other unincorporated entity; or More than 50% of the beneficial interests in a trust. The phrase “purchase money mortgage or purchase money deed of trust” means a mortgage or deed of trust provided as payment or part payment of the purchase price of real property. The phrase “security interest” means any interest in real property acquired for the purpose of securing payment of a debt. The phrase “security interest instrument” means any instrument which conveys, vests, grants, transfers, bargains, sells, or assigns a security interest in real property. A security interest instrument may include the following: A mortgage; A deed of trust; A financing statement; A refinancing statement; or Another document, instrument, or writing which creates an encumbrance on real property. The phrase “supplemental deed” means a deed that confirms, corrects, modifies, or supplements a prior recorded deed without additional consideration. Application of Law 10-128: Section 801 of D.C. Law 10-128 provided that sections 101, 102, 104, 105, 106, 107, and 108 shall apply as of June 1, 1994. Application of Law 8-20: Section 4 of D.C. Law 8-20 provided that the act shall apply to all transfers of an economic interest in real property in the District after September 30, 1989. Functions of the Recorder of Deeds were transferred in part to the Department of Consumer and Regulatory Affairs by Reorganization Plan No. 1 of 1983, effective March 31, 1983, and in part to a Recorder of Deeds Division in the Department of Finance and Revenue by Reorganization Plan No. 3 of 1983, effective March 31, 1983. Part IV-C, 2. b. (12) of Organization Order No. 3, dated December 13, 1967, assigned to the Office of the Finance Officer, Department of General Administration, the function (except as to such duties and functions as are performed in conjunction therewith by the Recorder of Deeds) of administering, as agent of the Mayor, the provisions of title III of Public Law 87-408 (now classified to this subchapter). Functions as stated in Part IV-C of Organization Order No. 3 were transferred to the Director of the Department of Finance and Revenue by Commissioner’s Order No. 69-96, dated March 7, 1969.