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ny state transfer taxes of a quit claim deed

Posted on: 15th Jul, 2011 07:28 pm
my husband and i are getting divorced and i am in the process of refinancing the mortgage. we live in nyc. is he responsible for paying a transfer tax? is it half the existing mortgage i am refinancing plus the money i'm giving him to buy him out? filing a quit claim deed. is there a way around not having him responsible for paying the transfer taxes?
hi rotondi,

it is not mandatory for him to pay the transfer tax. you can pay the transfer tax on his behalf. once you refinance the mortgage, you'll be solely responsible for paying off the mortgage in full.
Posted on: 15th Jul, 2011 09:49 pm
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