Bulletin: NY000527

The NYS Department of Taxation and Finance (“DOF”) has recently revised Form TP-584, Combined Real Estate Transfer Tax Return, Credit Line Mortgage Certificate, and Certification of Exemption from the Payment of Estimated Personal Income Tax and TP-584-I instructions.  The revised forms have a print date of (4/13) (links for sample forms are attached for your ready reference).

DOF will be mailing the County Clerk's Offices copies of the revised Form TP-584 and Form TP-584-I shortly. The County Clerk's Offices will begin distributing the forms and they can also be requested by emailing: nystaxforms@tax.ny.gov. 

The modifications made to the forms are minor and the county clerk's offices will continue to accept the prior version of Form TP-584 for 60 days after 4-15-2013. 

Here are a few highlights of the revisions that were made to the form.  As part of your review, please look for the following prior to submitting an original form from your office for recording:

• A check box was added to the TP-584 for Grantor/Transferor and Grantee/Transferee for "Single member LLC."   If this box is checked by either the grantor or grantee, then the single member of the LLC must complete the added name and identification number box for the single member.
• The grantor must now list the Statewide Information System Code (SWIS Code) for the property under the location and description of property conveyed on the TP-584.   The SWIS Code for the property can usually be found on the property tax bill, or by contacting the county assessment office.   In addition, the instructions direct filers to visit a State web site http://orpts.tax.ny.gov/cfapps/MuniPro/swis/index.cfm? to access the list of property SWIS codes.
   
• On page 4 of the TP-584, referees’ are instructed that if the property being conveyed is pursuant to a foreclosure proceeding, they should proceed to Part II, check the second box under exemptions for nonresident transferor(s)/seller(s) and sign at the bottom. 

For conveyances to be recorded in the New York City boroughs of Manhattan, Bronx, Brooklyn or Queens, it is clarified on the TP-584 that checks are to be made payable to the NYC Department of Finance.   For Richmond County (Staten Island) checks should be made payable to the county clerk.

TP-584 (4/13) click to view

Instructions for Form TP-584 (4/13) click to view

If you have any questions relating to this or other bulletins, please contact a Stewart Title Insurance Company Legal Services Representative at 212-922-0050.