Deeds and Mortgages
An original deed form must be completed, signed and notarized. We suggest you that you consult an attorney for assistance. Forms can also be purchased at many legal supply stores. The form must comply with New York State requirements, which include, but are not limited to: legal description of the property (including township), names and addresses (including street and number) of all parties on the document. We suggest that you type the information on the document or use black ink if written.
Please note that all acknowledgments require the following Uniform Certificate of Acknowledgment.
On the ______day of ___________, in the year _________, before me, the undersigned, personally appeared, ___________________________________, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individuals(s) acted, executed the instrument
A TP-584 Combined Real Estate Transfer Tax Return must be completed and signed where indicated.
A IT-2663 Application for Certification of recording of deed and non-estimated income tax. May be required for a non-resident seller of New York State to complete.
An RP-5217 form must be completed and signed. (Available at the Clerk’s Office) [Not for deed of Oil and Gas or Mineral Rights]
Filing Instructions at www.tax.ny.gov
Cost Information : www.tax.ny.gov
MANDATORY Online Generated Real Property Transfer Report : www.tax.ny.gov
- NYS Transfer Tax is due at the time of filing. This tax is based on the purchase price of the property. The rate is $4.00 per thousand or fraction thereof.
- Printable Real Estate Transfer Tax Rates Schedule.
- Recording fee for a deed: a deed costs $45.00 ($25 recording fee plus $20 cover page) with an additional $3.00 for each page.
Example for a two sided deed: $45.00 for deed plus $6.00 for two pages. Total cost for recording $51.00.
- The TP-584 Combined Real Estate Transfer Tax Return costs $5.00
- The RP-5217 filing fee of $125.00 required for qualifying residential or farm property and $250.00 for all other property.
A more detailed explanation and cost information can be found at www.tax.ny.gov
- Cost Information : www.tax.ny.gov
- MANDATORY Online Generated Real Property Transfer Report : www.tax.ny.gov
The original deed will then be recorded in our office and mailed back to you in approximately two weeks.
Recording a Mortgage in the Allegany County Clerk’s OfficeTo record a mortgage, you must have the original mortgage document completed, signed and acknowledged by a notary public with a proper New York State acknowledgment form. The document must have a legal description of the property to include the township.
Recording fee for a mortgage: a mortgage costs $45.00 ($25 recording fee plus $20 cover page) with an additional $3.00 for each page.
Example for a five page mortgage: $45.00 for mortgage plus $15.00 for five pages. Total cost for recording $60.00.
The NYS Mortgage Tax is due at the time of recording. The mortgage tax in Allegany County is 1% of the mortgage amount. It is broken down into three separate taxes as follows:
- Basic Tax = .50%
- Additional Tax = .25%
- Special Additional Tax = .25%
- Note: the first $10,000.00 of the principal amount of the mortgage is not subject to the additional tax if the mortgage creates a lien on real property improved or to be improved by a 1 or 2 family residence or dwelling.
- Note: Tax is computed upon the amount secured rounded off to the nearest $100.00
If an exemption is claimed for the Mortgage Tax the mortgage must be accompanied by an affidavit in duplicate. The Affidavit must state the exemption and must be signed and sworn to by a notary public. The fee to file the affidavit is $5.00.