Bulletin: NY000225

Date:
July 01, 2004
To:
All Issuing Offices in New York
RE:
ACRIS Version 2.1

Bulletin number 224, dated June 11, 2004 concerned the announced implementation of ACRIS Version 2.1 and the requirement of on line preparation of certain forms, hereinafter referred to as “e-tax forms”. The Department of Finance now offers further information and guidance to facilitate the transition to the new system.

Any transfer prior to July 5, 2004, that is submitted prior to August 2, 2004, will be accepted with the current forms, properly executed. For transfers that close prior to July 5, 2004, that are first submitted to for recording on or after August 2, 2004, or, first having been rejected by the City Register, are resubmitted on or after August 2, 2004, must be accompanied by e-tax forms prepared in ACRIS. Transactions falling in to this category must be accompanied by both the unsigned e-tax forms and the earlier executed pre-ACRIS tax forms.

The e-tax forms can be changed by hand, but a new Tax Transaction ID# will be required. This will require the preparation of e-tax forms, post closing, which will generate the new transaction ID number. Again, submit the signed, changed forms with the new e-tax forms.

Co-ops or controlling interests

Starting September 7, the RPT, Cover page and Payment sheet must be generated in ACRIS. Between July 3 and September 7, using ACRIS for the forms is optional.

ACRIS can be used to generate the TP-584, but is not required. Payment of the State Transfer Tax can be made to the Dept. of Finance. Mail or deliver the RPT and check (after July 5) to:

NYC Dept. of Finance
Non Recorded RPT Return Processing
66 John Street- 13th floor
NY, NY 10038

Address corrections and block/lot corrections.

Attached are two forms. These can be used to correct a mis-indexed document when the error is on the cover page, only. The document must have the correct information.

If the error is in the property type or party names, a new cover sheet will need to be created with a cross reference to the incorrect document.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

BLOCK AND LOT CORRECTIONS

DATE:_________

The enclosed document was recorded on ___________ in Liber______ page_________CFRN_________________against tax Block________Lot_________. The document actually affects tax Block_________Lot________. Please review and if you concur, please take the necessary steps to correct the Index. Thank you

Name________________

Company________________________

Address_______________________________________________________________________

Telephone Number___________________________________

ADDRESS CORRECTIONS

DATE:_________

The enclosed document was recorded on ___________ in Liber______ page_________CFRN_________________against tax Block________Lot_________ Address___________________________________________________________________. The document actually affects address________________________________________________________________________________. Please review and if you concur, please take the necessary steps to correct the Index. Thank you

Name________________

Company________________________

Address_______________________________________________________________________

Telephone Number___________________________________

References

Bulletins Replaced:
None
Related Bulletins:
NY000199 Automated City Register Information System
 
NY000200 Implementation of ACRIS
 
NY000201 ACRIS - Recordings
 
NY000202 1) ACRIS; 2) Emergency Repair Searches
 
NY000223 ACRIS Tax Filings
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None