The Kings New York State Combined Transfer Tax Return and Credit Line Mortgage Certificate is an important document that serves as a means of reporting and paying transfer taxes and recording mortgage details in real estate transactions within Kings County, New York. This comprehensive tax return and certificate are required by the New York State Department of Taxation and Finance to ensure compliance with state laws and facilitate the smooth transfer of properties. The transfer tax return section of the document gathers essential information regarding the transaction, such as the seller's and buyer's name and contact details, property location and description, and purchase price or consideration. It outlines the various types of transfer tax applicable, namely the New York State Real Estate Transfer Tax and the New York City Real Property Transfer Tax, based on the property's value. This allows for an accurate calculation and payment of the transfer taxes due. In addition to the transfer tax aspects, the Kings New York State Combined Transfer Tax Return also contains the Credit Line Mortgage Certificate section. This section records details related to any credit line mortgages associated with the property transfer. It requires information about the lender, outstanding balance, credit line amount, and terms of the mortgage, among other relevant details. This section is essential as it helps ensure that all mortgage-related information is properly documented and considered during the transfer process. It is worth noting that while the combined transfer tax return and credit line mortgage certificate are standard forms used throughout the entire state of New York, they may have slight variations based on the specific county or city. For example, while the Kings County version is applicable to Brooklyn, other counties within New York State may have their own local variations of the form. However, the general purpose of the document remains consistent — to accurately report transfer taxes and record mortgage details in real estate transactions. In summary, the Kings New York State Combined Transfer Tax Return and Credit Line Mortgage Certificate is a vital document for property transfers in Kings County, New York. It ensures compliance with state transfer tax laws and records essential mortgage details. While specific variations may exist across different counties, the overall purpose of the document remains the same.