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Affidavit Of Consideration For Use By Seller RTF-1 - New Jersey

Affidavit Of Consideration For Use By Seller Form. This is a New Jersey form and can be used in Local Property Tax Division Of Taxation Statewide .
 Fillable pdf Last Modified 9/3/2010
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RTF-1 (Rev. 2/19/07) MUST SUBMIT IN DUPLICATE STATE OF NEW JERSEY AFFIDAVIT OF CONSIDERATION FOR USE BY SELLER (Chapter 49, P.L.1968, as amended through Chapter 33, P.L. 2006) (N.J.S.A. 46:15-5 et seq.) BEFORE COMPLETING THIS AFFIDAVIT, PLEASE READ THE INSTRUCTIONS ON THE REVERSE SIDE OF THIS FORM. STATE OF NEW JERSEY }ss. COUNTY _________________ FOR RECORDER'S USE ONLY County Municipal Code ________________ Consideration $ _____________________ RTF paid by seller $ ___________________ Date___________ By _____________________ *Use symbol "C" to indicate that fee is exclusively for county use. MUNICIPALITY OF PROPERTY LOCATION _________________________ (1) PARTY OR LEGAL REPRESENTATIVE (See Instructions #3 and #4 on reverse side) Deponent, ______________________________, (Name) being duly sworn according to law upon his/her oath, deposes and says that he/she is the____________________________ in a deed dated ________________________ transferring (Grantor, Legal Representative, Corporate Officer, Officer of Title Company, Lending Institution, etc.) real property identified as Block number ___________________________ Lot number __________________________located at _______________________________________________________________________________ (Street Address, Town) and annexed thereto. (2) CONSIDERATION $_______________________________ (See Instructions #1 and #5 on reverse side) _________________________________________________________________________________________________________ (3) Property transferred is Class 4A 4B 4C (circle one). If property transferred is Class 4A, calculation in Section 3A below is required. (3A)REQUIRED CALCULATION OF EQUALIZED VALUATION FOR ALL CLASS 4A COMMERCIAL PROPERTY TRANSACTIONS: (See Instructions #5A and #7 on reverse side) Total Assessed Valuation ÷ Director's Ratio = Equalized Assessed Valuation $_____________________ ÷ ____________% = $_________________________ If Director's Ratio is less than 100%, the equalized valuation will be an amount greater than the assessed value. If Director's Ratio is equal to or in excess of 100%, the assessed value will be equal to the equalized valuation. (4) FULL EXEMPTION FROM FEE (See Instruction #8 on reverse side) Deponent states that this deed transaction is fully exempt from the Realty Transfer Fee imposed by C. 49, P.L. 1968, as amended through C. 66, P.L. 2004, for the following reason(s). Mere reference to exemption symbol is insufficient. Explain in detail. ____________________________________________________________________________________________________ ____________________________________________________________________________________________________ (5) PARTIAL EXEMPTION FROM FEE (See Instruction #9 on reverse side) NOTE: All boxes below apply to grantor(s) only. ALL BOXES IN APPROPRIATE CATEGORY MUST BE CHECKED. Failure to do so will void claim for partial exemption. Deponent claims that this deed transaction is exempt from State portions of the Basic Fee, Supplemental Fee, and General Purpose Fee, as applicable, imposed by C. 176, P.L. 1975, C. 113, P.L. 2004, and C. 66, P.L. 2004 for the following reason(s): __________________________________________________________________________________________________________ A. B. SENIOR CITIZEN Grantor(s) BLIND PERSON Grantor(s) DISABLED PERSON Grantor(s) 62 years of age or over. * (See Instruction #9 on reverse side for A or B) legally blind or; * permanently and totally disabled Receiving disability payments Not gainfully employed* Senior citizens, blind persons, or disabled persons must also meet all of the following criteria: Owned and occupied by grantor(s) at time of sale. Resident of State of New Jersey. One or two-family residential premises. Owners as joint tenants must all qualify. *IN THE CASE OF HUSBAND AND WIFE/CIVIL UNION PARTNERS, ONLY ONE GRANTOR NEEDS TO QUALIFY IF TENANTS BY THE ENTIRETY. ______________________________________________________________________________________________________________________________ C. LOW AND MODERATE INCOME HOUSING (See Instruction #9 on reverse side) Affordable according to H.U.D. standards. Meets income requirements of region. (6) NEW CONSTRUCTION (See Instructions #2, #10 and #12 on reverse side) Reserved for occupancy. Subject to resale controls. Entirely new improvement. Not previously used for any purpose. Not previously occupied. "NEW CONSTRUCTION" printed clearly at the top of the first page of the deed. __________________________________________________________________________________________________________________________ (7) Deponent makes this Affidavit to induce county clerk or register of deeds to record the deed and accept the fee submitted herewith in accordance with the provisions of Chapter 49, P.L. 1968, as amended through Chapter 33, P.L. 2006. Subscribed and sworn to before me this day of , 20 ____________________________ Signature of Deponent _______________________________ Deponent Address _______ XXX-XXX- ___ ___ ___ Last 3 digits in Grantor's Social Security Number ______________________________ Grantor Name __________________________________ Grantor Address at Time of Sale __________________________________ Name/Company of Settlement Officer FOR OFFICIAL USE ONLY Instrument Number___________________ County_________________ Deed Number_________________ Book __________ Page_________ Deed Dated ___________________ Date Recorded ________________ County Recording Officers shall forward one copy of each Affidavit of Consideration for Use by Seller when Section 3A is completed. STATE OF NEW JERSEY- DIVISION OF TAXATION PO BOX 251 TRENTON, NJ 08695-0251 ATTENTION: REALTY TRANSFER FEE UNIT The Director of the Division of Taxation in the Department of the Treasury has prescribed this form as required by law, and may not be altered or amended without prior approval of the Director. For information on the Realty Transfer Fee or to print a copy of this Affidavit, visit the Division of Taxation website at: www.state.nj.us/treasury/taxation/lpt/localtax.htm. American LegalNet, Inc. www.FormsWorkflow.com INSTRUCTIONS FOR FILING FORM RTF-1, AFFIDAVIT OF CONSIDERATION FOR USE BY SELLER STATEMENT OF CONSIDERATION AND REALTY TRANSFER FEE PAYMENT ARE PREREQUISITES FOR DEED RECORDING No county recording officer shall record any deed evidencing transfer of title to real property unless (a) the consideration is recited in the deed, or (b) an Affidavit by one or more of the parties named in the d
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