What is the realty transfer tax in new jersey?

54A:8-8 through 8-10 require that nonresident sellers, transferors, and grantors, pay estimated gross income tax in the amount of 2% of the consideration paid on their sale of real property in New Jersey.

MADISON COMMERCIAL REAL ESTATE SERVICES Generally, in New Jersey, the Seller pays the Transfer Tax. Please see State of NJ RTF-1EE affidavit of consideration for use by buyer for more information and for more instructions.

The grantee is required to remit additional transfer fee of 1% of the consideration when the entire consideration is in excess of $1,000,000 - and the property

Payment of the RTF is a prerequisite for recording the deed, and it should be noted that in addition to the transfer fee paid by the sellers, a 1% fee must be paid by

New Jersey RTF due on the sale of any property. • Collected when the deed is recorded in the State of New Jersey. • Seller obligation. • Due on all deeds for