Taxes, Privilege - As enacted, clarifies that a deed is treated as a quitclaim deed for transfer tax purposes if the deed only conveys the grantor's interest to the grantee, and that a deed containing language evidencing an intent to convey the property itself or warranties of title is taxed as a transfer of a freehold estate; specifies that the recordation tax provisions do not affect the validity of the underlying transfer or conveyance. - Amends TCA Title 66, Chapter 5, Part 1 and Title 67, Chapter 4, Part 4.