Buy Here Pay Here Somerset Nj
There is no exemption conveying from one legal entity to another. New Jersey law states a deed transferring real property from one legal entity to another legal entity that has common ownership is subject to the Realty Transfer Fee. The consideration that the Realty Transfer Fee is calculated on includes the monetary value of stock transferred or contribution to capital by the grantor. When a value is indeterminable, the Realty Transfer Fee is calculated on the assessed value of the property being conveyed on the date of the transfer adjusted to reflect the true value as determined by the Director's Ratio established for that municipality for the current year.