The following words, when used in this article, shall have the meaning
hereby ascribed thereto, except where the context clearly indicates
otherwise:
ASSOCIATION
A partnership, limited partnership or other form of unincorporated
enterprise owned by two or more persons.
CORPORATION
A cooperative, joint stock association or corporation.
DEED
A contract, agreement, document, deed, decree, order, instrument
or writing whereby any lands, tenements or hereditaments, or any interest
therein, shall be alienated, granted, bargained, sold, transferred,
conveyed, assigned, released or otherwise disposed of to any person,
excepting, however:
(1)
Transfers between husband and wife, and transfer between parent
and child or the spouse of such child;
(2)
Leases; agreements of sale, mortgages and transfers by will
testamentary writings or by the interstate laws of the Commonwealth
of Pennsylvania; and
(3)
Such other transfers as are specifically exempted under the
Local Tax Enabling Act of 1965, § 2(1).
DEPARTMENT
The Department of Revenue of this commonwealth.
[Added 12-4-2006 by Ord.
No. 2006-593]
INTEREST
The vested or contingent title, right, privilege, power,
benefit or advantage accruing to any person as the result of any transaction.
PERSON
A natural person, association or corporation, including such
persons, associations and corporations when acting in a representative
or fiduciary capacity. Whenever used in any clause prescribing or
imposing a penalty, or both, the term "person" shall include the partners
in any partnership or limited partnership, the members of any unincorporated
enterprise, and the officers of any corporation.
TRANSFER
The transfer of real property by deed, as herein defined,
or any interest in real property situate wholly or partly within the
Borough of Bath, regardless of where the instrument making the transfer
is made, executed or delivered, or where the actual settlement on
such transfer takes place.
VALUE
The actual pecuniary worth of any interest which constitutes
the subject matter of a transfer at the time the said transfer is
consummated. Any actual monetary consideration for a transaction shall
be prima facie, but not conclusive, evidence of actual pecuniary worth
or value and shall be construed to include any sums of cash or articles
of value agreed to be paid or exchanged, the face value of all mortgages,
notes, judgments, liens or encumbrances given in connection with the
transaction, together with any other evidence of indebtedness or promises,
whether oral or written, given as full or part consideration for the
transaction; provided, that which is the subject matter of a transaction
shall in no event be less than the amount of the highest assessment
of such interest for local tax purposes, if such interest has been
so assessed.