Property OwnershipGeneralHARD
New York transfer taxes are paid by:
Correct Answer
B) The seller, with mansion tax paid by buyer
Seller pays transfer tax; buyer pays mansion tax on properties over $1 million.
Answer Options
A
The buyer onlyB
The seller, with mansion tax paid by buyerC
Split equallyD
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Related Topics & Key Terms
Related Topics:
closing-costs-allocationreal-estate-closing-processnew-york-real-estate-regulations
Key Terms:
Real Property Transfer Taxmansion taxseller obligationsbuyer closing costsNew York Tax Law Section 1402
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