Iowa Declaration of Value Requirements

What Is an Iowa Declaration of Value?

The Iowa Real Estate Transfer Declaration of Value is a state form used to report information about a real estate transfer.

The form includes information about the seller, buyer, property address, legal description, type of sale, total amount paid, amount paid for personal property, and amount paid for real property.

The buyer, seller, or either party’s agent generally completes Part I of the form for nonexempt transactions. The assessor completes Part II.

Official Iowa Declaration of Value Form

The official Iowa Declaration of Value form and instructions are available from the Iowa Department of Revenue. County recorder offices may also provide access to the form or local recording instructions.

Official Form: Download the Iowa Real Estate Transfer Declaration of Value form

Official Instructions: Download the Iowa Declaration of Value instructions

Does Every Iowa Quitclaim Deed Require a Declaration of Value?

No. Some Iowa transfers are exempt, but the answer is more detailed than simply saying “exempt” or “not exempt.”

Iowa’s official Declaration of Value instructions state that some exempt transactions do not require the form if the exemption is clearly stated on the document presented for recording.

However, exception numbers 1, 6, 14, 15, and 22 may still require a Declaration of Value form to be completed.

Iowa Transfer Tax Exceptions

Iowa Code section 428A.2 lists exceptions to Iowa real estate transfer tax. The following list is a plain-English formatting of those statutory categories.

1. Any executory contract for the sale of land where the vendee is entitled to or takes possession, or any assignment or cancellation of that contract. DOV may be required.
2. Any mortgage, assignment, extension, partial release, or satisfaction of mortgage.
3. Any will.
4. Any plat.
5. Any lease.
6. Certain deeds, instruments, or writings involving the United States, the state of Iowa, or a governmental agency, instrumentality, governmental subdivision, or political subdivision. DOV may be required in some instances.
7. Deeds for cemetery lots.
8. Deeds that secure a debt or other obligation, except those included in the sale of real property.
9. Deeds for release of a security interest in property, except those relating to the sale of real estate.
10. Deeds that confirm, correct, modify, or supplement a previously recorded deed without additional consideration.
11. Deeds between husband and wife, or parent and child, without actual consideration.
12. Tax deeds.
13. Deeds of partition where the interest conveyed is without consideration, subject to tax if a party receives a share greater than that party’s undivided interest.
14. Transfers resulting from a corporate merger, consolidation, or reorganization, or a limited liability company merger, consolidation, or reorganization, where the instrument states that fact on its face. DOV required.
15. Deeds between a family corporation, partnership, limited partnership, limited liability partnership, or limited liability company and its stockholders, partners, or members for certain organization or dissolution transfers with no actual consideration other than shares or debt securities. DOV required.
16. Deeds transferring property or an interest in property between former spouses pursuant to a decree of dissolution of marriage.
17. Deeds transferring easements.
18. Deeds giving back real property to lienholders in lieu of forfeiture or foreclosure.
19. Deeds executed by public officials in the performance of their official duties.
20. Deeds transferring distributions of assets to heirs at law or devisees under a will.
21. Deeds in which the consideration is five hundred dollars or less.
22. Deeds transferring distributions of assets to beneficiaries of a trust when conveyed without consideration. DOV required.

Sample Iowa Exemption Statement

If a transfer is exempt and the Declaration of Value is not required, the exemption reason should be clearly stated on the deed or other document presented for recording.

The exemption wording should match the actual reason the transfer is exempt.

Why This Matters for Iowa Quitclaim Deeds

Quitclaim deeds are often used for family transfers, divorce-related transfers, trust transfers, title corrections, and transfers involving little or no money.

Some of these transfers may be exempt from Iowa real estate transfer tax. Others may still require a Declaration of Value form, an exemption statement, or other recording information.

Before recording an Iowa quitclaim deed, review whether the deed needs the Declaration of Value form or whether a clearly stated exemption applies.

Common Iowa Declaration of Value Mistakes

• Failing to include the Declaration of Value when one is required
• Assuming every no-money transfer is exempt
• Assuming every family transfer is exempt
• Failing to clearly state the exemption on the deed
• Using the wrong exemption number or incomplete exemption wording
• Leaving required form fields blank
• Using an incomplete property description
• Recording in the wrong Iowa county

County Recorder Processing Differences

Iowa county recorder offices may have different intake procedures, formatting expectations, electronic filing systems, and recording fee structures.

Before recording a deed, review the county recorder’s current instructions and document requirements.

How This Fits Into the Iowa Quitclaim Deed Process

When preparing an Iowa quitclaim deed, review the Declaration of Value requirement before recording.

If the deed needs the Declaration of Value, complete the form before submitting the deed to the county recorder.

If the deed is exempt and no Declaration of Value is required, make sure the exemption is clearly stated on the document being filed.

See the main Iowa Quitclaim Deed Instructions page for the complete step-by-step deed preparation process.

Iowa Declaration of Value FAQ