* § 1445. Credit. A grantee shall be allowed a credit against the tax
due on a conveyance of real property to the extent tax was paid by such
grantee on a prior creation of a leasehold of all or a portion of the
same real property or on the granting of an option or contract to
purchase all or a portion of the same real property by such grantee.
Such credit shall be computed by multiplying the tax paid on the
creation of the leasehold or on the granting of the option or contract
by a fraction, the numerator of which is the value of the consideration
used to compute such tax paid which is not yet due to such grantor on
the date of the subsequent conveyance (and which such grantor will not
be entitled to receive after such date), and the denominator of which is
the total value of the consideration used to compute such tax paid.

* NB Repealed December 31, 2025