3.__Prepayment; no penalty due.__Notwithstanding either subsection 1 or 2, the seller or transferor may, in advance of the sale or exchange, pay the penalty imposed by this subchapter or obtain a written ruling from the State Tax Assessor that no penalty is due under this subchapter.__In either case, the State Tax Assessor shall certify to the seller or transferor that the payment has been made or that no penalty is due.__Upon receipt by the buyer or transferee of the certification from the seller or transferor, the buyer or transferee is not required to withhold under subsection 1.

4.__Personal debt.__The penalty required to be paid or withheld under this subchapter constitutes a personal debt of the person liable to pay or withhold the same to this State to be recovered in an action under this subchapter.

5.__Suit.__An action may be brought to recover the amount of the penalty to be paid or withheld in the manner prescribed for recovering amounts owed for taxes under section 941.__The amount of the penalty to be paid or withheld is a lien in favor of this State upon all property and rights of property, whether real or personal, belonging to the person liable for the penalty or for the withholding.__The lien must be enforced in the manner prescribed by subchapter 9, article 2.

§600-B.__Installment sale

1.__Installment sale.__For the purposes of this section, "installment sale" means sale or exchange of land for timber harvesting for which the total penalty due under this subchapter is greater than $2,000 and in which the parties agree in advance that payments must be received by the seller or transferor in more than one installment on a date or dates other than the date of closing.__A sale financed by a mortgage, deed of trust or other financing arrangement in which the seller or transferor is paid in full on the date of the sale or exchange is not considered an installment sale.__A lease-purchase agreement under which any part of the rental