Checklist: Preparing and Recording Your New York Quitclaim Deed
- Fill in the deed form.
- Print it out.
- Have the grantor(s) sign and get the signature(s) notarized.
- Complete a transfer tax form, Form TP-584.
- Complete and print out Form RP-5217 (or, if you are in New York City, Form RP-5217NYC).
How do I add my spouse to my deed in NY?
The simplest way to add a spouse to a deed is through a quitclaim deed. This type of deed transfers whatever ownership rights you have so that you and your spouse now become joint owners. No title search or complex transaction is necessary. The deed will list you as the grantor and you and your spouse as grantees.
What is marital property in NY?
“Marital Property” is defined by the NY Equitable Distribution Law as all property acquired by both or either spouses during the course of the marriage regardless of form title held: prior to execution of a separation agreement or prior to commencement of a matrimonial action.
What are the real estate transfer forms for New York?
Real property transfer forms A real property transfer form—RP-5217, RP-5217-NYC, or RP-5217-PDF (pilot project)—is required for all real property transfers where a deed is filed. A filing fee is also required.
Who is responsible for paying real estate transfer tax in New York?
In New York, the seller of the property is typically the individual responsible for paying the real estate transfer tax. However, if the seller doesn’t pay or is exempt from the tax, the buyer must pay.
Can a property be transferred to a surviving spouse?
The deed for the property can determine how to transfer the property to a surviving spouse. This process may be automatic, as in the case of property owned jointly with the right of survivorship. Or the process may be more complicated, requiring the use of the courts and the probate process.
When do you pay transfer tax in New York?
When real estate is conveyed for consideration exceeding $500 in New York State or $25,000 in New York City, transfer tax is levied. However, both the State and City extend the imposition of their transfer taxes to transfers of controlling interests in entities holding real property.
