Real Property, Trust and Estate Law Section

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Realty Transfer Fee

By James F. Foley posted 09-30-2013 11:26 AM

  
The Affidavit of Consideration for Use by the Seller sets forth in instruction number 9, Partial Exemption from the Realty Transfer Fee, that "'Senior citizen" means any resident of this State of the age of 62 or over."  A living trust does not meet this description, and your client does not qualify for the reduced Realty Transfer Fee.

Jim Foley

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