Virtual Underwriter

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Bulletin: NY000403

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Bulletin: NY000403

Bulletin Document
V 1
Date: June 10, 2009
To: All New York State Office Counsel, Managers and Agents
RE: The New York City Real Property Transfer Tax Return

The New York City Real Property Transfer Tax Return has been revised effective June 8, 2009 to add a new Schedule "I", captioned "Transfers Pursuant To A Separation Agreement, Marital Settlement Agreement Or Divorce Decree". According to an announcement posted on the Department of Finance's web site, at http://nyc.gov/html/dof/html/jump/acris.shtml:  

"Changes to the E-Tax application Real Property Transfer Tax Return (RPT) section Effective June 8, 2009

"Starting June 8, 2009 ACRIS customers that use the E-Tax application will see a new schedule in the Real Property Transfer Tax Return (RPT) section. The new schedule, Schedule I, will be required if the Condition of Transfer is "Transfer pursuant to martial settlement agreement or divorce decree". If the Condition of Transfer is "Other", the new schedule will be optional. For all other Conditions of Transfer, the new schedule will not be displayed. The Schedule I will be grouped together with other Alpha schedules and will be placed between Schedule H and M".

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

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