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Get 253 Affidavit Ny

AFFIDAVIT OF EXEMPTION UNDER SECTION 253 (1-a) OF THE TAX LAW STATE OF NEW YORK COUNTY OF ) )ss.: ) , being duly sworn, deposes and says: I am the mortgagee, the owner and holder of the hereinafter.

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How to fill out the 253 Affidavit Ny online

The 253 Affidavit Ny is a crucial document for mortgagees in New York seeking exemption from specific mortgage taxes. This guide provides a clear, step-by-step approach to completing the affidavit online, ensuring users can navigate the process confidently.

Follow the steps to complete the 253 Affidavit Ny accurately.

  1. Click 'Get Form' button to access the affidavit and open it for editing.
  2. In the first section, enter the name of the individual making the affidavit, who is referred to as the deponent. This should include your full name.
  3. Fill out the county section where the affidavit is being signed. Ensure that you specify both the county name and the location.
  4. Under the details of the mortgagor, input the name of the person or entity who borrowed the funds, referred to as the Mortgagor. Make sure to be precise and correct.
  5. Next, enter the name of the mortgagee, or the lender. This is the entity that will hold the mortgage.
  6. Indicate the date on which the mortgage was created. This is essential for the legitimacy of the affidavit.
  7. State the principal sum of the mortgage. This figure should represent the total amount borrowed.
  8. Provide the amount of mortgage tax being tendered with the affidavit. This should reflect the calculated tax due.
  9. Certify the mortgagee's status as a natural person and affirm that the mortgaged premises meet the criteria for exemption, specifically mentioning it contains six or fewer residential units.
  10. In the final section, sign the affidavit. You will also need to indicate the date of signing, and ensure you have a notary public present to witness the signing and provide their details.

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The NYC Mortgage Recording Tax (MRT) is 1.8% for loans below $500k and 1.925% for loans of $500k or more. The MRT is the largest buyer closing cost in NYC.

Take the principal of your mortgage, which is the total amount you are borrowing from a lender, and divide it by 100. Next, round up the quotient to the nearest whole number. Take the result and multiply it by your state's specific mortgage recording tax rate.

In NYC, the buyer pays a mortgage recording tax rate of 1.8% if the loan is less than $500,000 and 1.925% if more than $500,000 or more. Buyers of commercial property pay 2.55%. These rates are what the buyer is responsible for. Your mortgage lender will also contribute 0.25%.

If the value is $500,000 or less, the rate is 1.425% of the price. If the value is more than $500,000 the rate is 2.625%.

This template is a Section 255 Affidavit, which is used in New York to confirm that the portion of debt secured by a consolidation, extension, and modification agreement (CEMA), for which mortgage recording tax has already been paid, is exempt from mortgage recording tax pursuant to NY CLS Tax § 255.

In NYC, the buyer pays a mortgage recording tax rate of 1.8% if the loan is less than $500,000 and 1.925% if more than $500,000 or more. Buyers of commercial property pay 2.55%. These rates are what the buyer is responsible for. Your mortgage lender will also contribute 0.25%.

Deponent certifies that the mortgagee is a natural person, and that the mortgaged premises consists of real property improved by a structure containing six or fewer residential dwelling units, each with separate cooking facilities.

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© Copyright 1997-2026
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
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
Your Privacy Choices
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Help Portal
Legal Resources
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
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
altaFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
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 1997-2026
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232