March 5, 2010
There has been a recent change in the law regarding the installation, performance and maintenance of carbon monoxide alarms effective 2/22/10. This new law is referred to as "Amanda's Law" and it applies to both new and existing buildings.
The premises may be exempt from the statute if there is no carbon monoxide source within or attached to the structure, but if a carbon monoxide source is later added, then compliance with the statute is required. A carbon monoxide source is any appliance, device, equipment or system that emits carbon monoxide.
There are requirements for buildings constructed on or after 1/1/2008 and there are lesser requirements for buildings constructed prior to 1/1/2008.
For more information on the new requirements, please click on the website link below.
February 12, 2010
Attached is a link which provides guidance for the relevant provisions of Tax Law Article 31 and Part 575 of the Real Estate Transfer Tax Regulations (20 NYCRR). It addresses frequently asked questions related to the additional tax, often referred to as the mansion tax.
PLEASE NOTE: The information presented in this publication does not represent a change in any policies or procedures.
January 28, 2010
Effective February 1st the recording fees For Schenectady County will change as follows;
Old Fee New Fee
Cover Page $10 $ 5
Recording Fee $25 $ 4
Additional Pages $ 3 / Per Page $ 5 / Per Page
All other fees remain in place and have not changed.
January 15, 2010
Please be advised we have updated our website calculator to be fully compliant with the new (GFE) Good Faith Estimate regulations effective January 1, 2010.
All title, recording and related charges can be easily calculated provided the user has the county where the property is located, the type of property (residential or commercial, etc.), the purchase price and loan amount, or just the loan amount if only a refinance.
The calculator is frequently updated to be fully compliant with any new regulations.
Please contact us should you have any questions, comments, or should you have any suggestions for us to update the calculator.
Click on the Calculator Link below to calculate your charges now:
December 11, 2009
Effective January 1, 2010 the Westchester County Clerks’ Office requires all Instruments submitted for recording must be accompanied by Cover Pages and certain Tax Forms created by using the Property Records Electronic Portal ("PREP") System.
http://prep.westchesterclerk.com The PREP System is a web-based application from which cover pages and tax forms are generated. The PREP forms must be signed by the parties and submitted for recording together with the original documents (Deeds, Mortgages, Sats, etc…) to the Westchester County Clerk. This system is similar to the ACRIS System presently in use in NYC (except Richmond County).
If the tax forms are prepared by someone other than the title company, the tax forms must be "assigned" in PREP to the title company in advance of the closing to enable the title company to prepare the cover page and record.
December 4, 2009
Form MT-15; Mortgage Recording Tax Return Form has been revised to reflect the change in mortgage tax rate effective December 1, 2009 for Dutchess County. The rate has been reduced to $1.05 per $100.
