Claiming a New York City Real Property Transfer Tax Exemption for Transfers to or from Housing Development Fund Companies (HDFC) – Interim Solution for using ACRIS to create NYC-RPT
Beginning August 19, 2016, taxpayers may be eligible to claim a full or partial Real Property Transfer Tax exemption for transfers of real property, or economic interests therein, to or from Housing Development Fund Companies, or entities in which a Housing Development Fund Company owns a controlling interest (collectively known as an “HDFC Transfer”) under Section 11-2106(b)(9) of the Administrative Code of the City of New York (the “HDFC Exemption”).
For additional details on how to claim a new Real Property Transfer Tax (“RPTT”) exemption for transfers of real property subject to certain affordable housing restrictions, click here.
ACRIS Tax Form Creation Changes
Effective May 18, 2015, the NYC-RPT form will be revised to include two additional GRANTOR and GRANTEE types:
No, all documents from one transaction must be submitted in the same manner, either via eRecording or via the regular submission process.
Completing a Cover Page for a UCC Financing Statement
The Document Date entered should be the same as the Cover Page preparation date, or within six months of the initial UCC filing's expiration date.
When a Flip Transaction (a transfer from party A to B, then party B to C) is involved:
The ACRIS application ís "Find Addresses and Parcels and Create Tax Forms / Create Cover Pages" functions may be unavailable during the following times due to system maintenance: