Always consult with a licensed New Jersey attorney whenever you are contemplating the recording of a document which affects real property ownership. The wide-ranging issues surrounding a real estate transaction and the preparation of a deed and other documents is a complicated legal matter and should be handled by an attorney-at-law. The role of the County Clerk as the Register of Deeds and Mortgages is to review the documents presented for compliance with statutory requirements and when they meet those requirements to record them in the public record. The staff of the County Clerk’s Office is not permitted to prepare legal documents or to dispense legal advice.
The following are basic recording requirements, statutory citations, Realty Transfer Fee information, Gross Income Tax information and fees necessary for recording of deeds in New Jersey. Not all items pertain to every transaction. Some requirements are not listed here. This information is provided as a guide and should not be used as a substitute for the services of an attorney.
Rita Marie Fulginiti, Cape May County Clerk
7 N. Main Street DN 109 PO Box 5000
Cape May Court House NJ 08210-5000
· Printed name and signature of the preparer on first page. (NJSA 46:15-1.1.a(6)
· Name(s) of the grantor(s) (seller). (NJSA 46:15-1.1)
· Name(s) of the grantee(s) (buyer). (NJSA 46:15-1.1)
· Complete mailing address of the grantee, including postal zip code. (NJSA 54:4-32)
· Date of deed. (NJSA 46:19-3)
· A statement of the true consideration (including the balance of any assumed mortgage) shall be contained in the deed, the acknowledgment, the proof of the execution or an attached affidavit by one of the parties to the deed or a legal representative of one of the parties. Consideration is defined as the actual amount of money and the monetary value of any other thing of value constituting the entire compensation paid for the transfer of title to the lands, tenements and other realty, including the remaining amount of any prior mortgage to which the transfer is subject or assumed. (NJSA 46:15-5(c), NJSA 46:15-6.a, NJSA 46:15-7 or 46:15-7.1)
· Municipality Name, Tax Block and Lot Number and Qualifier, if any, from the current Tax Map. If the property being conveyed is part of a subdivided property and does not yet appear as a separate item on the municipal assessor's list the words "part of" must be included with the current Tax Block and Lot number. If the property is not included at all on the municipal assessor's tax list, then the Deed must contain a statement that no property tax identification number is available. (NJSA 46:15-1.1.a(6)
· Description of the property sufficient to identify it and the nature of the interest being transferred. (NJSA 25:1-11.a.(1)
· Signature(s) of grantor(s) (the seller). (NJSA 46:15-1.1.a(2)
· Grantor(s) name(s) typed or printed beneath the signature(s). If the grantor is corporation or other entity the title of the person signing on its behalf. (NJSA 46:15-1.1.a(4)
· 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 and the consideration amount. 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, title and jurisdiction as a notary or other officer authorized to take oaths. (NJSA 46:15-1.1a(3), NJSA 46:14-2.1)
· Record and return information on the deed. (NJSA 46:19-5).
· Payment of Recording Fees: $30.00 for the 1st page plus $10.00 for each printed page after, each Affidavit of Consideration is $10.00, each GIT form submitted is $10.00, plus $10.00 tax abstract fee, per municipality. Recording fees are payable to County Clerk.
· Affidavit of Consideration for Use by Seller form (RTF-1) and/or Affidavit of Consideration for Use by Buyer form (RTF-1EE) when necessary
· Payment of New Jersey Realty Transfer Fee(s). Realty Transfer fees are payable to County Clerk. (NJSA 46:15-7, 46:15-7.1, 46:15-7.2) Please refer to the Fee Payment Policy posted on www.capemaycountygov.net
New Jersey Realty Transfer Fee Rates:
New Jersey Realty Transfer Fee Rates Effective since 8/1/2004
Rate per 500 of Consideration
Rate per 1000 of Consideration
Standard & New Construction up to $350,000.00
Standard & New Construction over $350,000.00
Partial Exemption up to $350,000.00 Senior Citizen, Blind, Disabled, Low & Moderate Income Housing
Partial Exemption over $350.000.00 Senior Citizen, Blind, Disabled, Low & Moderate Income Housing
There is an additional fee for Grantees (Buyers) of properties which transfer for more than $1,000,000.00. The fee is 1% of the entire consideration.
An Affidavit of Consideration for Use By Seller (RTF-1) is submitted in duplicate with any deed in which a full or partial exemption is claimed from the Realty Transfer Fee. There are 16 reasons listed in the instructions for full exemption from the fee, and partial exemptions for Senior Citizens, Blind or Disabled, Low and Moderate Income Housing and New Construction. (NJSA 46:15-6.b) An Affidavit of Consideration for Use by Seller is also required when the entire consideration is not recited in the deed, the acknowledgment or proof of execution. (NJSA 46:15-6.a) An Affidavit of Consideration for Use by Seller (RTF-1) is also required on transfer of Class 4 properties (NJSA 46:15-7.2d(1)
An Affidavit of Consideration for Use by Buyer (RTF-1EE) submitted in duplicate is required when
a. consideration is in excess of $1,000,000.00
b. when transferring Class 4A property as defined in N.J.A.C. 18:12-2.2
c. when the grantee (buyer) claims an exemption from payment of the Realty
d. when the entire consideration is not recited in the Deed, the
acknowledgment or proof of execution. (NJSA 46:15-7.2.d(2) and (3)
Cape May County/Municipal Codes for use on forms RTF-1 and RTF-1EE:
0501 Avalon Borough
0502 Cape May City
0503 Cape May Point Borough
0504 Dennis Township
0505 Lower Township
0506 Middle Township
0507 North Wildwood City
0508 Ocean City
0509 Sea Isle City
0510 Stone Harbor Borough
0511 Upper Township
0512 West Cape May Borough
0513 West Wildwood Borough
0514 Wildwood City
0515 Wildwood Crest Borough
0516 Woodbine Borough
· Gross Income Tax forms necessary to the transaction (at least one is required; more than one may be required for a transaction) (NJSA 54A:8-10d)
Ø Seller's Residency Certification/Exemption (form GIT/REP-3)
Ø Nonresident Seller's Tax Declaration (form GIT/REP-1) with payment of estimated tax payable to State of NJ-Div. of Taxation
ØNonresident Seller's Tax Prepayment Receipt (form GIT/REP-2). This form requires payment in advance of NJ Div. of Taxation, Seal of the Director, Division of Taxation and date.
ØWaiver of Seller's Filing Requirement of GIT/REP Forms and Payment (form GIT/REP-4). Requires Seal of the Director, Division of Taxation and date.
ØWaiver of Seller's Filing Requirement of GIT/REP Forms and Payment for Corrected Deed with No Consideration (form GIT/REP-4a).
· Payment of Estimated Gross Income Tax payable to the State of NJ-Div. of Taxation when applicable (GIT/REP-1)
New Jersey Gross Income Tax Information and Forms
Additional requirements for Condominium Unit Deeds:
Name of the condominium, the book and page recording reference to the master deed and the proportionate undivided interests in the common elements appurtenant to unit all as set forth in the master deed (NJSA 46:8B-10(d)
Additional requirements for New Construction Deeds:
Affidavit of Consideration for Use by Seller (RTF-1) submitted in duplicate is required for New Construction Deeds. In addition the words "NEW CONSTRUCTION" must be printed clearly in upper case lettering at the top of the first page of the deed. (NJSA 46:15-6.c)
Additional requirements for Minor Subdivision Deeds:
Signatures and approval dates from Municipal Planning Board and Cape May County Planning Board (NJSA 40:55D-47)
When an application is made to the Sheriff for the sale of any real property, whether under execution or pursuant to any writ, judgment or order, an Affidavit of Consideration for Sheriff's Deeds (RTF-8) must be supplied to the Sheriff. This affidavit lists, under oath, the name of any other mortgagees and other holders of encumbrances and the current balance of all prior mortgages, liens or encumbrances constituting consideration. The Sheriff's Affidavit is not an exemption from the Realty Transfer Fee.
Make checks for document recording fees and transfer tax 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 08210-5000