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RTF-1 (Rev. 7/14/10) MUST SUBMIT IN DUPLICATE STATE OF NEW JERSEY AFFIDAVIT OF CONSIDERATION FOR USE BY SELLER (Chapter 49, P.L.1968, as amended through Chapter 33, P.L. 2006) (N.J.S.A. 46:15-5 et.

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A Standard Document affidavit of title for use by a purchaser or borrower in a real property purchase or mortgage loan transaction in New Jersey. This Standard Document has integrated notes with important explanatory and drafting tips.

The taxpayer may file a claim under oath for refund at any time within four years after the payment of any original Realty Transfer Fee. Claims received beyond the four-year filing period will not be approved.

The CITT is only imposed if the real property is classified as "4A Commercial" and if the consideration or other valuation of the real property is greater than $1,000,000. The buyer is exempt from the CITT if they pay the additional fee on certain transfers of real property over $1,000,000.

The Claim for Refund (Form A-3730) must be filed with documents, such as invoices, receipts, proof of payment of tax, and exemption certificates. These documents must be provided in a format suitable to determine the correctness of the grounds for the refund and the amount of the refund or credit.

The State of New Jersey imposes a Realty Transfer Fee (RTF) on the seller whenever there is a transfer of title by deed. The fee is based on the sales price of the property, and the seller is required to pay the fee at the time of closing.

The CITT is only imposed if the real property is classified as "4A Commercial" and if the consideration or other valuation of the real property is greater than $1,000,000. The buyer is exempt from the CITT if they pay the additional fee on certain transfers of real property over $1,000,000.

It's important to know this law prohibits any county officer from recording any deed unless accompanied by this form and estimated tax payment. Later, when you file your New Jersey tax return, the actual capital gain tax you owe will be deducted from your estimated tax payment—with the remainder refunded to you.

While many real estate taxes can be deducted at the end of the year, transfer taxes in new jersey are not able to be deducted. Neither the seller or buyer can deduct transfer taxes on their taxes.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232