Generally, land trusts will prevent real estate transfer taxes in states where transfer taxes apply. The reason is simple. For real estate transfer taxes, most states have an exemption for grantor trusts wherein the beneficiary is the same as the grantor.

New York Estate Tax Exemption This means that if a person's estate is worth less than $7.16 million and they die in 2024, the estate owes nothing to the state of New York. New York has a “cliff” that impacts very wealthy estates.

The grantor must sign the deed and signatures must be acknowledged (notarized). The grantor and grantee must sign the consideration statement and the signatures must be notarized. The document must be filed in the county clerk's office of the county where the property is located (or the greater part).

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How to avoid transfer tax in real estate?

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