Revised TP-584–From Chair, NYSBA Real Property Section

Real Property Law
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Message from the Chair:

Most of you are aware of the revised TP-584 which took effect on Monday. Just to be sure, we’re sharing the detailed information below.

Revised TP-584

The New York State Department of Taxation and Finance (DTF) has put a revised TP-584 form into effect  April 15, 2013.

Access the form at the link below:

http://www.tax.ny.gov/pdf/current_forms/property/tp584_fill_in.pdf

Most counties outside of New York City will continue to accept the current form until June 15, 2013.Westchester County anticipates that the new form will be incorporated within its PREP system today. The New York City Register expects that the new form will be incorporated within ACRIS around May 6th, 2013, but the City Register will accept the current form until June 28, 2013. There is no date yet for adoption by Richmond County.

CHANGES:

  1. DTF added new check boxes on Page 1, Schedule A for grantors or grantees which are single member LLCs. If the grantor or the grantee is a single member LLC, then the member’s name and Tax ID or Social Security Number must be entered on the form.
  2. DTF now requires the entry of the 6-digit Statewide Information System Code number (SWIS Code) on the property description. The SWIS Code number should appear on the property’s tax bill. If not, your examiner or searcher can obtain it from the County Assessor’s Office.
  3. A conveyance pursuant to a divorce or legal separation must be indicated on the new form by checking box “r” under “Condition of Conveyance.”

In all counties where documents are recorded in the County Clerk’s Office, including Richmond County, checks in payment of the transfer tax must be made payable to the County Clerk. In the counties covered by the New York City Register (Manhattan, Kings, Queens and the Bronx), checks must be made payable to the NYC Department of Finance.

Access the form at the link below:

http://www.tax.ny.gov/pdf/current_forms/property/tp584_fill_in.pdf

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