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Realty Transfer Fee Information
Regular
Fees - No Exemptions
- $2.00 per $500 or fraction thereof of
consideration not in excess of $150,000
- $3.35 per $500 or fraction thereof of
consideration in excess of $150,000 but not in excess of $200,000
- $3.90 per $500 or fraction thereof of
consideration in excess of $200,000.
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Example:
Consideration of $500,000.00 |
| $2.00 per $500 up to $150,000
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$600.00 |
| $3.35 per $500 over $150,000, up
to $200,000 |
$335.00 |
| $3.90 per $500 over $200,000
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$2,340.00 |
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Total
Transfer Fee Due: |
$3,275.00
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Senior Citizen, Blind, Disabled, Low &
Moderate Incoming Housing
- $.50 per $500 or fraction thereof of consideration up to $150,000
- $1.25 per $500 or fraction thereof of consideration over $150,000
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Example:
Consideration of $500,000.00 |
| $.50 per $500 up to $150,000
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$150.00 |
| $1.25 per $500 over $150,000 |
$875.00 |
| $3.90 per $500 over $200,000
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$2,340.00 |
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Total
Transfer Fee Due: |
$1,025.00
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To be eligible for the Senior Citizen Exemption, Grantor must be 62 years of
age or over, and owned and occupied property at time of sale. Property must be
one or two family residential with no joint owners other than spouse or other
exempt owners.
To be eligible for Blind of Disabled owner must be legally blind or totally
disabled in one or two family homes owned and occupied by Grantor at time of
sale. No joint owners other than spouse or other exempt owner. Disabled owner
must not be employed or receiving any disability payments.
To be eligible for Low and Moderate Income Housing property must be affordable
according to H.U.D. standards and meet requirements of region. Must be reserved
for occupancy and subject to resale controls.
New Construction
- $2.00 per $500 or fraction thereof of consideration not in excess of
$150,000
- $3.35 per $500 or fraction thereof of consideration in excess of $150,000
but not in excess of $200,000
- $3.90 per $500 or fraction thereof of consideration in excess of $200,000.
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Example:
Consideration of $500,000.00 |
| $2.00 per $500 up to $150,000
|
$600.00 |
| $3.35 per $500 over $150,000, up
to $200,000 |
$335.00 |
| $3.90 per $500 over $200,000
|
$2,340.00 |
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Total
Transfer Fee Due: |
$3,275.00 |
Deeds transferring new construction will no longer be required to file an
Affidavit of Consideration. Transfers of new construction should not include a
cover letter stating that the property is new construction or the deed should
clearly indicate on the first page that the property is new construction to
ensure proper distribution of funds.
Transfer Tax Fees for Sheriff's Deed
There is a separate affidavit to be submitted with Sheriff’s
Deeds. As a general rule, in the case of a Sheriff’s Deed confirming a sheriff’s
sale, the amount of the realty transfer fee shall be computed upon the amount of
the accepted bid for the property sold:
1. Where, however, the sale is for delinquent taxes or assessments no fee is
imposed.
2. Where a deed to real estate is executed by a sheriff to a mortgagee who bids
the property at a foreclosure sale to satisfy a mortgage lien, the Realty
Transfer Fee will be computed upon the amount bid for the property plus the
remaining amount of any superior mortgage liens.
When Affidavit Must Be Annexed to Deed
- An affidavit must be annexed to and recorded with the deed in the event
that the full consideration is not recited in both the deed and in the
acknowledged or proof of the execution thereof.
- An Affidavit must also be annexed to and recorded with the deed where the
exemption from the fee is claimed.
- Any claim for exemption from the increased fee must be supported by this
Affidavit and attached to the deed at the time or recording, in addition to
any statement otherwise required by the law with respect to consideration.
- Any exemptions including government agencies and considerations under $100
must have an affidavit attached.
Exemptions from the Fee
The fee imposed by the Act shall not apply to a deed:
- For consideration of less than $100.00
- By or to the United States of America, this State, or any instrumentality,
agency or subdivision thereof
- Solely in order to provide or release security for a debt or obligation
- Which confirms or corrects a deed previously recorded
- On a sale for delinquent taxes or assessments
- On partition
- By a receiver, trustee in bankruptcy or liquidation, or assignee for the
benefit of creditors
- Eligible to be recorded as an “ancient deed” pursuant to R.S. 46:16-7
- Acknowledged or proved on or before July 3, 1968
- Between husband and wife, or parent and child
- Conveying a cemetery lot or plot
- In specific performance of a final judgment
- Releasing a right of conversion
- Previously recorded in another county and full realty transfer fee paid or
accounted for as an evidenced by written instrument, attested to be the
grantee and acknowledged by the county recording officer of the county of such
prior recording, specifying the county, book, page, date or prior recording,
and amount of realty transfer fee previously paid.
- By an executor or administrator of a decedent to as an devisee or heir to
effect distribution of the decedent’s estate in accordance with the provisions
of the decedent’s will or the interstate laws of this State.
- Recorded within 90 days following the entry of a divorce decree which
dissolves the marriage between the grantor and grantee.
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