Is All of this legal to file a quikclaim deed, is this just for new jersey?

Purpose: To convey or transfer title to a freehold interest in real property.



Recording Requirements:



1. Name(s) of the grantor(s) (seller).

(N.J.S.A. 46: 46:15-1.1)



2. Name(s) of the grantee(s) (buyer).

(N.J.S.A. 46:15-1.1)



3. Complete mailing address of the grantee, including zip code.

(N.J.S.A 54:4-32)



4. Date of deed.

(N.J.S.A. 46:19-3)



5. The amount of consideration must be clearly stated

in the body of the deed, acknowledgment, or affidavit

of consideration (if necessary),

plus the balance of any assumed mortgage.

(N.J.S.A. 46:15-5)



6. New Jersey Realty Transfer Tax is due.





New Jersey Realty Transfer Tax Rates Effective 8/1/2004 Consideration Amount Rate per 500 of Consideration Rate per 1000 of Consideration

Standard %26amp; New Construction up to 350,000 1st 150,000 2.00 4.00

150,000.01-200,000 3.35 6.70

200,000.01 + 3.90 7.80



Standard %26amp; New Construction over 350,000 1st 150,000 2.90 5.80

150,000.01-200,000 4.25 8.50

200,000.01-550.000 4.80 9.60

550,000.01-850,000 5.30 10.60

850.000.01-1M 5.80 11.60

1,000,000.01 + 6.05 12.10



Partial Exemption up to 350,000 Senior Citizen, Blind, Disabled, Low %26amp; Moderate Income Housing 1st 150,000 0.50 1.00

150,000.01 + 1.25 2.50



Partial Exemption over 350.000 Senior Citizen, Blind, Disabled, Low %26amp; Moderate Income Housing 1st 150,000 1.40 2.80

150,000.01-550,000 2.15 4.30

550,000.01-850,000 2.65 5.30

850,000.01-1M 3.15 6.30

1,000,000.01 + 3.40 6.80



There is an additional fee for Grantees of properties which transfer for more than $1,000,000. The fee is 1% of the entire consideration.

For more information go to http://www.state.nj.us/treasury/taxation/



An Affidavit of Consideration (RTF-1) is required for exemption or partial exemption from New Jersey Realty Transfer tax. An Affidavit of Consideration (RTF-1) is now required to be affixed to and recorded with all deeds transferring "new construction" in addition to the existing claims for a partial exemption. "NEW CONSTRUCTION" must now be printed clearly in upper case lettering on the top of the first page of deeds transferring new construction as well as on the Affidavit of consideration. A duplicate copy of any Affidavit of Consideration is required at the time the deed is presented to the County Clerk for recording; the duplicate can be a photostatic copy. A separate Affidavit of Consideration (RTF-1EE) is required for transfers over $1 million. For printable forms go to http://www.state.nj.us/treasury/taxation/



7. Name of municipality with the block and lot number from the current tax map.

(N.J.S.A. 46:15-1.1)



8. Signature(s) of grantor(s).

(N.J.S.A. 46:15-1.1(2)).



9. Name(s) of grantor(s) must appear typed or printed beneath

signature(s).

(N.J.S.A. 46:15-1.1(4)).



10. Grantor(s) signature(s) must be fully acknowledged by a notary

public or other officer authorized by law to take oaths.

Acknowledgment must include the name of the state and county

where the acknowledgment is taken, full date, name(s) of the

person(s) signing the deed. If the grantor is a corporation or

other entity there must be a statement that the maker was authorized

to execute the instrument on behalf of the entity and that the maker

executed the instrument as the act of the entity. Notary or other

officer taking the acknowledgment must sign the acknowledgment and

print his/her name and title.

(N.J.S.A. 46:15-1.1(3), N.J.S.A. 46:14-2.1).



11. Printed name and signature of preparer must appear on the first page.

(N.J.S.A. 46:15-1.1(6)).



12. Record and return information on document.

(N.J.S.A. 46:19-5).



13. Effective 8/1/2004 Chapter 55, P.L. 2004 now requires nonresident individuals, estates or trusts that sell or transfer real property in New Jersey to make an estimated Gross Income Tax payment prior to the recording of the deed. Each deed requires one or more of three Gross Income Tax Forms (GIT/REP-1, GIT/REP-2 and/or GIT/REP-3) For information call (609)292-6400. For forms go to http://www.state.nj.us/treasury/taxation/



Fee: Regular Fees - $30.00 for the 1st page plus $10.00 for each printed page after, Affidavit of Consideration is $10.00, each GIT form submitted is $10.00, plus $10.00 tax abstract fee, per municipality.



Comment: If consideration is less than $100.00, an affidavit of consideration is required or payment of $2.00 tax.



Make checks payable to

Cape May County Clerk

and deliver document and fees to

7 N. Main Street DN 109

PO Box 5000

Cape May Court House NJ 08210-5000Is All of this legal to file a quikclaim deed, is this just for new jersey?
So what is your question? Is this legal? or Is this required?



What is it that you are asking?



All this information is needed to determine WHO the property is going to, WHO is giving it, WHY it is being given, HOW MUCH the transfer tax is, and IF it is a legal transaction.Is All of this legal to file a quikclaim deed, is this just for new jersey?
This is for conveyance of a normal deed, not a QUITCLAIM deed.



For a quitclaim, all you do is quit your claims on a property and record it. Think of it as a release.



It can read like this. Mr. XXXX ZZZZ quits releases all claims on property (legal discription) commonly known as 1234 Somewhere St.



Sign and notarize it. Then record it.



You don't even have to have an interest in the property file a quitclaim on it



Good Luck