Realty Transfer Tax

The Realty Transfer Fee is imposed upon the recording of deeds evidencing transfers of title to real property in the State of New Jersey.  The Fee is required to be paid upon the recording of deeds conveying title to real property in New Jersey. The most current Realty Transfer Fee law enacted is Chapter 33, Laws of 2006, which imposes a 1% fee on buyers in transfers of Class 4A “commercial property” as defined in N.J.A.C. 18:12-2.2 and also on property classes 2 “residential;” 3A “farm property (regular)” but only if the property includes a building or structure intended or suited for residential use transferred to the same grantee with the farm property; and cooperative units, that incur the 1% fee for an entire consideration recited in the deed in excess of $1 million.