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As a supplemental fee to the RTF, N.J.S.A. -7.2 imposes a fee on the recording of the deed for the sale of real property when the consideration paid is more than $1,000,000. While the seller pays the RTF, the buyer pays this supplemental fee of one percent of the consideration recited in the deed.

Generally, in New Jersey, the Seller pays the Transfer Tax. If you qualify for an exemption, you are entitled to pay a reduced amount. Consult your attorney to see if any of these exemptions apply to you. Note:If purchase price is over 1 million dollars, a 1% mansion tax may be due.

In New Jersey, the deed must be in English, identify the seller/buyer (grantor/grantee), name the person that prepared the deed, state the consideration (amount paid) for the transfer, contain a legal description of the property (a survey), include the signature of the grantor and be signed before a notary.

Sales Tax: Sales Tax is not due on home sales. Realty Transfer Fee: Sellers pay a 1% Realty Transfer Fee on all home sales. The buyer is not responsible for this fee. However, buyers may pay an additional 1% fee on all home sales of $1 million or more.

An affidavit of title is a legal document provided by the seller of a piece of property that explicitly states the status of potential legal issues involving the property or the seller. The affidavit is a sworn statement of fact that specifies the seller of a property holds the title to it.

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4. Liens or Encumbrances. BEFORE COMPLETING THIS AFFIDAVIT, PLEASE READ THE INSTRUCTIONS ON THE REVERSE SIDE OF THIS FORM.STATE OF NEW JERSEY. }ss. Items 10 - 15 — The completed. How do I complete a RETR for each method of tax foreclosure? Use Box F for a sale of vacant land. 7. Residential Buyer's Use- Please indicate the use of the property (for residential property only):.

Affidavit For Use By Buyer

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