66B   Conveyance to or from joint tenants

(1)  In any case where property is conveyed to persons as joint tenants or by persons as joint tenants and one or more of such persons is or are a conveyor or conveyors and a conveyee or conveyees, the conveyance shall, for the purpose of assessment of duty on such instrument, be construed as if any reference to joint tenants is read as tenants in common and for this purpose:

(a)  where property is conveyed by persons as joint tenants the value of the share or interest of each joint tenant in the jointly held property immediately prior to the conveyance shall be the proportion of the unencumbered value of such property that one bears to the total number of such persons,

(b)  where property is conveyed to persons as joint tenants the value of the share or interest of each joint tenant in the jointly held property immediately after the conveyance shall be the proportion of the unencumbered value of such property that one bears to the total number of such persons, and

(c)  where the consideration or part of the consideration for the conveyance is a debt, any joint liability in respect thereof shall be construed as a liability of each person in the proportion that one bears to the total number of persons so jointly liable therefor.

(2)  Such conveyance shall be chargeable with duty of $10 in addition to any ad valorem duty chargeable in accordance with the provisions of this Act.

(3)  The provisions of subsection (1) of this section shall not apply to a conveyance where the conveyor or conveyors or conveyee or conveyees is or are a trustee or trustees for himself or themselves either alone or together with any other person or persons or for any other person or persons.