New York Statutes
§ 1438-D — Liability for tax
* § 1438-d. Liability for tax.
1.The real estate transfer tax shall\nbe paid by the grantee. If the grantee has failed to pay the tax imposed\npursuant to this article or if the grantee is exempt from such tax, the\ngrantor shall have the duty to pay the tax. Where the grantor has the\nduty to pay the tax because the grantee has failed to pay the tax, such\ntax shall be the joint and several liability of the grantee and the\ngrantor.\n 2. For the purpose of the proper administration of this article and to\nprevent evasion of the tax hereby imposed, it shall be presumed that all\nconveyances are subject to the tax. Where the consideration includes\nproperty other than money, it shall be presumed that the consideration\nis the fair market value of the real property or interest therein. T
Free access — add to your briefcase to read the full text and ask questions with AI
New York § 1438-D (Liability for tax) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 1438-A
Definitions§ 1438-B
Imposition of tax§ 1438-C
Payment of tax§ 1438-D
Liability for tax§ 1438-E
Exemptions§ 1438-F
Credit§ 1438-H
Designation of agents§ 1438-I
Liability of recording officer§ 1438-J
Refunds§ 1438-L
Judicial review§ 1438-M
Apportionment§ 1438-N
Miscellaneous§ 1438-O
Returns to be secret