- June 15, 2007
- All New York State Office Counsel, Managers and Agents
- Transfer Tax - Red Hook, NY
The Town of
For those deeds executed before August and recorded post August 1, the date
of the deed will apply, provided the contract is binding and there is
independent evidence of the date of execution. This evidence can include
the filing date of the contract, if recorded, the date of the deposit check, or
other evidence the
The tax is payable by the grantee, but is payable by the grantor if the grantee is either exempt or fails to pay the tax. The law as promulgated contains various exemptions to payment.
The form has not yet been promulgated. It is Stewart's understanding that the form will need to be filed with the deed on all transactions. The fee for filing the return is $5.00. This fee, and the tax, if any, should be paid to the Dutchess County Clerk and added to the other taxes and filing fees at the time of recording the deed.
Please click here to view a copy of the law.
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.