If a seller agrees to take a purchase money mortgage from a buyer as a second mortgage, which statement would be true about the intangibles tax?

• A. Intangibles taxes are not applicable to second mortgages, only to first mortgages
• B. Any intangibles tax must be paid by the seller because the seller holds the mortgage
• C. Any intangibles tax must be paid by the buyer because it was for the buyer's benefit that the loan was made
• D. Either party can pay the intangibles tax

Answer: (D)