Affidavit Of Consideration For Use By Buyer {RTF-1EE}

RTF-1EE (Rev. 2/19/07) MUST SUBMIT IN DUPLICATE STATE OF NEW JERSEY AFFIDAVIT OF CONSIDERATION FOR USE BY BUYER (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 buyer $ ___________________________ Date ________________ By _____________________________ MUNICIPALITY OF PROPERTY LOCATION _______________________ (1) PARTY OR LEGAL REPRESENTATIVE (See Instructions #3 and #4 on reverse side) _________XXX-XX-X ___ ___ ___ Last 3 Digits in Grantee's Social Security Number Deponent, ______________________________, being duly sworn according to law upon his/her oath, (Name) deposes and says that he/she is the_______________________ in a deed dated _______________ transferring (Grantee, 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, #5, and #11 on reverse side) Entire consideration is in excess of $1,000,000: PROPERTY CLASSIFICATION CHECKED BELOW SHOULD BE TAKEN FROM THE OFFICIAL TAX LIST (A PUBLIC RECORD) OF THE MUNICIPALITY WHERE THE REAL PROPERTY IS LOCATED IN THE YEAR THAT THE TRANSFER IS MADE. (A) When Grantee is required to remit the 1% fee, complete below: Class 2 - Residential Class 3A - Farm property (Regular) and any other real property transferred to same grantee in conjunction with transfer of Class 3A property (B) When Grantee is not required to remit the 1% fee, complete below: Property class. Circle applicable class(es): 1 Class 4A ­ Commercial Properties (if checked, calculation on (C) required below) Class 4C - Residential Cooperative Unit (4 Families or less) 4B 4C 15 Property classes: 1-Vacant Land, 4B-Industrial properties, 4C-Apartments (other than cooperative unit), 15-Public Property Exempt Organization pursuant to federal Internal Revenue Code of 1986 Incidental to corporate merger or acquisition and equalized assessed valuation less than 20% of total value of all assets exchanged in merger or acquisition (If checked, calculation in (C) below required and MUST ATTACH COMPLETED RTF-4) __________________________________________________________________________________________________________ (C) REQUIRED CALCULATION OF EQUALIZED ASSESSED VALUATION FOR ALL CLASS 4A COMMERCIAL PROPERTY TRANSACTIONS: (See Instructions #6 and #7 on reverse side) Total Assessed Valuation ÷ Director's Ratio = Equalized Valuation $_____________________ ÷ ____________% = $________________ If Director's Ratio is less than 100%, the equalized valuation will be an amount greater than the assessed valuation. If Director's Ratio is equal to or in excess of 100%, the assessed valuation will be equal to the equalized value. __________________________________________________________________________________________________________ (3) TOTAL 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. ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ (4) Deponent makes Affidavit of Consideration for Use by Buyer to induce county clerk or register of deeds to record the deed and accept the fee submitted herewith pursuant to 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 ___________________________ Grantee Name __________________________________ Deponent Address _______________________________ Grantee 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 Buyer recorded with deeds to: 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 it may not be altered or amended without prior approval of the Director. For further 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-1EE, AFFIDAVIT OF CONSIDERATION FOR USE BY BUYER CONSIDERATION STATEMENT AND REALTY TRANSFER FEE PAYMENT 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 for Use by Buyer by one or more of the parties named in the deed or by their legal representatives declaring the consideration is annexed for recording with the deed, and (c) for conveyances and transfers of property for which the total consideration recited in the deed is not in excess of $350,000, a fee is remitted at the rate of $2.00/$500 of consideration or fractional part thereof not in excess of $150,000; $3.35/$500 of consideration or fractional part thereof in excess of $150,000 but not in excess of $200,000; and $3.90/$500 of consideration or fractional part thereof in excess of $200,000. For transfers of property for which the total consideration recited in the deed is in excess of $350,000, a fee is remitted at the rate of $2.90/$500 of consideration or fractional part not in excess of $150,000; $4.25/$500 of consideration or f