Posted by sonkatNJ on 7/6/08 1:02pm
Msg #254287

Need Help from New York Notaries

In the closing package does the borrowers fill in all the information in the several pages of the Real Estate Transfer Tax Return and the Affidavit of Compliance with Smoke Detectors? Or do they just sign where it indicates? I'd appreciate any help very much.

Reply by Rick_NY on 7/6/08 3:46pm
Msg #254292

On the TP-584 tax return, I just have them sign in the correct spots and have the title co fill in the blanks. Too easy to goof it up and you don't need or want that liability.

I fill out the smoke detector affidavit, a notarized form, it's very simple.

Is the property outside of the five boroughs of New York City?

Reply by sonkatNJ on 7/7/08 7:47am
Msg #254306

Yes, it is. It's in Highland Mills 10930. They are closing today at the Jersey shore in my area. Thanks very much for the info.

Reply by MikeC/NY on 7/6/08 9:32pm
Msg #254303

What Rick said.

The TP584 (Transfer Tax Return) probably can't be filled out by the borrower unless they have an accountant standing next to them. Depending on the type of loan and existing mortgage, the tax may or may not be due. Filling out that form incorrectly can have unintended financial consequences; check with the TC on how they want it handled (if the transfer tax is due, it will be listed on the HUD-1 and the BO SHOULD already be aware of it). Usually the TC just wants the BO to sign the form as indicated, and they'll take care of the rest - but I suggest you double check with them.

The Smoke Detector Affidavit should be filled out and notarized, if possible. Obviously, if they don't have smoke detectors, they can't sign the form. I have rarely seen that affidavit in the packages I've done, and if I remember correctly it references a NYC ordinance. If the property isn't in NYC, it may not be an issue - but again, check with the TC to be sure.

Reply by Rick_NY on 7/7/08 8:16am
Msg #254308

Smoke detector and Carbon monoxide affidavits

"What Mike said," plus:

FYI, a smoke detector affidavit is incorporated into the RPT-NYC transfer form, a 20 page notarial disaster (many signatures and precious little space for notary signature and stamps). You're lucky it's a non-NYC deal.

NYS has a combo smoke/CO detector affidavit. If the TC is on top of its game, it should be included.

Here it is courtesy of Stewart Title of New York's web site. As Mike suggested, if it's not in the package, you might give a courtesy call to the TC to inquire about it.

http://www.stewartaffiliates.com/download/645/Affidavit/smoke_carbon_affidavit.doc

Have fun "down the shore!"

Reply by MikeC/NY on 7/7/08 11:01am
Msg #254331

Re: Smoke detector and Carbon monoxide affidavits

These are only required when the property is conveyed, so the TC may not include it on purpose.

Reply by sonkatNJ on 7/7/08 2:23pm
Msg #254357

Re: Smoke detector and Carbon monoxide affidavits

I can't thank you all enough for your information. Have a great day.