State Codes and Statutes

Statutes > New-york > Tax > Article-31-f > 1449-dddd

* §  1449-dddd.  Liability  for  tax.  1. The real estate transfer tax  shall be paid by the grantee. If the grantee has failed to pay  the  tax  imposed  pursuant  to this article or if the grantee is exempt from such  tax, the grantor shall have the duty to pay the tax. Where  the  grantor  has  the  duty  to pay the tax because the grantee has failed to pay the  tax, such tax shall be the joint and several liability  of  the  grantee  and the grantor.    2. For the purpose of the proper administration of this article and to  prevent evasion of the tax hereby imposed, it shall be presumed that all  conveyances are taxable. Where the consideration includes property other  than  money,  it  shall  be  presumed that the consideration is the fair  market  value  of  the  real  property  or   interest   therein.   These  presumptions  shall prevail until the contrary is proven, and the burden  of proving the contrary shall be on the person liable for payment of the  tax.    * NB Repealed December 31, 2025

State Codes and Statutes

Statutes > New-york > Tax > Article-31-f > 1449-dddd

* §  1449-dddd.  Liability  for  tax.  1. The real estate transfer tax  shall be paid by the grantee. If the grantee has failed to pay  the  tax  imposed  pursuant  to this article or if the grantee is exempt from such  tax, the grantor shall have the duty to pay the tax. Where  the  grantor  has  the  duty  to pay the tax because the grantee has failed to pay the  tax, such tax shall be the joint and several liability  of  the  grantee  and the grantor.    2. For the purpose of the proper administration of this article and to  prevent evasion of the tax hereby imposed, it shall be presumed that all  conveyances are taxable. Where the consideration includes property other  than  money,  it  shall  be  presumed that the consideration is the fair  market  value  of  the  real  property  or   interest   therein.   These  presumptions  shall prevail until the contrary is proven, and the burden  of proving the contrary shall be on the person liable for payment of the  tax.    * NB Repealed December 31, 2025

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Tax > Article-31-f > 1449-dddd

* §  1449-dddd.  Liability  for  tax.  1. The real estate transfer tax  shall be paid by the grantee. If the grantee has failed to pay  the  tax  imposed  pursuant  to this article or if the grantee is exempt from such  tax, the grantor shall have the duty to pay the tax. Where  the  grantor  has  the  duty  to pay the tax because the grantee has failed to pay the  tax, such tax shall be the joint and several liability  of  the  grantee  and the grantor.    2. For the purpose of the proper administration of this article and to  prevent evasion of the tax hereby imposed, it shall be presumed that all  conveyances are taxable. Where the consideration includes property other  than  money,  it  shall  be  presumed that the consideration is the fair  market  value  of  the  real  property  or   interest   therein.   These  presumptions  shall prevail until the contrary is proven, and the burden  of proving the contrary shall be on the person liable for payment of the  tax.    * NB Repealed December 31, 2025