A New York Quitclaim Deed form transfers property ownership or interest from the owner (the grantor) to another person (the grantee). A quitclaim deed does not require a title search on the property, so there is no guarantee that the title is free of any claims, liens, or encumbrances.
How to File
Filing a quitclaim deed in New York requires drafting the form carefully, notarizing signatures, and submitting it to the county clerk. Completing each step accurately helps protect your ownership rights.
Step 1 – Obtain Quitclaim Deed Form
Select the appropriate form and fill it out in its entirety. Either with the help of a property attorney, or by using a New-York specific quitclaim deed template, you can ensure the proper completion of all necessary fields.
Step 2 – Fill in the Preparer’s Details
Enter the document preparer’s name and address on the first page. Underneath this, in the section titled “After Recording Return To,” enter the name and address of the person who will receive the paperwork when the County Clerk’s Office is finished recording. This is typically the buyer.
Step 3 – Document Consideration
Write out the total amount paid for the property transfer spelled out in words and numerically.
Step 4 – Write Grantor’s Information
List the full name and address of the seller, known as the grantor. Ensure that the name used here matches exactly the grantor’s signature completed later.
Step 5 – Enter Grantee’s Details
List the full name and address of the buyer, known as the Grantee.
Step 6 – Fill in Property County
Write the county where the property is located.
Step 7 – Note Property Legal Description
Enter a detailed legal description of the property and include the physical address of the property.
Step 8 – Get Deed Notarized
The grantor will sign the deed in front of a notary public, taking care that the name in the signature exactly matches the printed version of their name above. The notary will attach an acknowledgment that certifies the signature.
Step 9 – Fill Out Tax Forms
Fill out the appropriate tax forms. For properties in New York City, use TP-584-NYC and RP-5217NYC. For properties in counties outside New York City, use TP-584 and RP-5217.
Step 10 – File Your New York Quitclaim Deed Form
File the quitclaim deed and necessary tax forms with the New York county clerk’s office in the county where the property is located (CLNY Ch. 50 Art. 9 § 291). Pay the appropriate recording fees and taxes based on the county’s rules.
Costs and Fees
Transferring property via a quitclaim deed in New York usually involves county recording fees and a real estate transfer tax. Being aware of these costs beforehand can help you avoid surprises later.
Filing Fees
Quitclaim deed filing fees in New York vary depending on the specific county. But generally, the fee for filing a quitclaim deed form is $125 for residential or farmland and $250 for all other property types. Find the New York county clerk’s office for the county in which the property exists to look up the exact filing fees for your purposes.
Taxes
Those involved in a New York property transfer must complete forms TP-584-NYC and RP-5217NYC for property located in New York City and TP-584 and RP-5217 for properties in counties outside New York City.
1. Documentary Transfer Tax (DTT)
A New York transfer tax applies when the consideration of the property to be transferred exceeds $500. Some types of property transfers are tax-exempt, such as gifts and bequests, transfers into trusts, and transfers that merely change the character of the property, such as adding or removing a spouse.
If you are unsure whether your quitclaim deed is tax-exempt, you should consult a property attorney.
Who Pays the Transfer Tax?
The grantor generally pays the transfer tax, although the grantee can pay it if a signed contract between the two states they will. If the grantor doesn’t pay or is exempt from the transfer tax, the grantee must then pay it.
A mansion tax, or additional base and supplemental taxes for properties exceeding certain values above $1 million, is entirely the responsibility of the grantee. If the grantee does not or is exempt from applicable additional and supplemental mansion taxes, then the grantor must pay them.
Exemptions to Transfer Tax
Exemptions from the New York transfer tax include:
- A US government entity
- A New York State entity
- A foreign government, or its representative, when the property will be used exclusively for diplomatic or consular purposes
If a government entity transfers property to a non-government entity, the non-government entity must file a return and pay the transfer tax.
Tax Rates
The tax rate is $2 for each $500 of consideration. There are additional taxes where the consideration exceeds certain amounts starting at $1 million, including:
- When consideration of a residential property exceeds $3 million, an additional $1.25 for each $500, or fractional part thereof in base tax applies.
- When consideration for a non-residential property is $2 million or more, an additional $1.25 for each $500, or fractional part thereof in base tax applies.
- When consideration of a residential property is $2 million or more, a supplemental tax with an incremental rate between .25% and 2.9% based on the purchase price applies. Exact tax rates can be found in Form TP-584-NYC-I, which also gives Instructions for Form TP-584-NYC.
2. US Gift Tax (Form 709)
There is no New York-specific gift tax, so parties involved in a New York quitclaim deed must only consider the federal gift tax. Using IRS form 709, the grantor, who pays the gift tax unless the grantee agrees to pay in writing, can find the amount they may owe in gift tax. A gift tax only applies if the full monetary value of the property is not received in return for its transfer.
3. Capital Gains Tax
In New York, capital gains are taxed as personal income tax. Federally, capital gains tax applies to a grantee who later sells a gifted property for more than the adjusted basis amount (IRS Topic No. 409). IRS Publication 551 helps grantees calculate the adjusted basis amount of property gifted to them.
New York Quitclaim Deed Requirements
New York has clear rules about how a quitclaim deed must be prepared and recorded. Following them closely can help you avoid recording rejections and delays.
Legal Framework
The Consolidated Laws of New York (CLNY) Ch. 50 Art. 8 and Art. 9 cover all laws surrounding quitclaim deeds in New York. Regulations specific to New York quitclaim deeds include particular language and formatting requirements in the document’s body.
Legal Description
A legal description of the property being transferred in New York should:
- Match the description of previous deeds
- Include the map and plat number
- Have the surveyor’s description
- Note the lot number and street address
A previous deed may only contain the development lot number and have the legal description attached as an exhibit. Be sure your quitclaim deed has the entire description.
Signing
In order to be valid, a New York quitclaim deed must be signed by the following parties:
- The person giving the property, or the grantor
- A notary public, who attaches a jurat or acknowledgment to certify the signature
The person or entity receiving the property, or grantee, does not have to sign. Also, no witnesses are required (CLNY Ch. 50 Art. 9 § 306).
Terminology
New York law sets out very specific language requirements for quitclaim deeds. The model template included in CLNY Ch. 50 Art. 8 § 258 Sched. G reads:
This indenture, made the ……. day of ……….., two thousand and ………., between ……………, (insert residence), party of the first part, and ………….., (insert residence), party of the second part:
Witnesseth, that the party of the first part, in consideration of ………… dollars, lawful money of the United States, paid by the party of the second part, does hereby remise, release, and quitclaim unto the party of the second part, …………… and assigns forever, all (description), together with the appurtenances and all the estate and rights of the party of the first part in and to said premises.
To have and to hold the premises herein granted unto the party of the second part, ………… and assigns forever.
In witness whereof, the party of the first part has hereunto set his hand and seal the day and year first above written.
In presence of: (notary name)
For a corporation (discussed in Sched. H), the suggested format and language is similar, except it ends in the following: “In witness whereof, the party of the first part has caused its corporate seal to be hereunto affixed and these presents to be signed by its duly authorized officer the day and year first above written.”
While using this language is guaranteed to be lawful, this section does not prevent or invalidate the use of other forms. No matter what form or language is used, make sure the printed grantor name exactly matches the name in your signature, or the document may be invalid.
Additional Documents
New York quitclaim deed laws require you to file several documents alongside the deed itself, including:
- New York State Counties: Real Property Transfer Report (Form RP-5217) and Combined Real Estate Transfer Tax Return, Credit Line Mortgage Certificate, and Certification of Exemption from the Payment of Estimated Personal Income Tax (Form TP-584)
- New York City Only (Bronx, Brooklyn, Manhattan, Queens, Staten Island): Real Property Transfer Report (Form RP-5217NYC) and Combined Real Estate Transfer Tax Return, Credit Line Mortgage Certificate, and Certification of Exemption from the Payment of Estimated Personal Income Tax for the Conveyance of Real Property Located in New York City (Form TP-584-NYC)
Filing
To file a New York quitclaim deed properly:
- File the deed and all related forms at the New York county clerk’s office where the property is located (CLNY Ch. 50 Art. 9 § 291).
- In most counties, you must pay a nominal recording or filing fee, usually per page. These fees are posted on the county website.
Validity Requirements
In New York, to be considered valid, quitclaim deeds:
- Must be in writing
- Must conform to the requirements of the appropriate county or city
- Must be signed by the grantor, where the name used in the signature exactly matches the printed name of the grantor
- Must be notarized
- Must be accompanied by the proper additional forms
Content Requirements
In the content portion of a quitclaim deed for New York, grantors must list:
- The date the document was signed, is considered the effective date
- The grantor’s name and mailing address
- The grantee’s name and mailing address
- The amount of money, if any, to be exchanged or a nominal (symbolic) small amount in its place
- The legal description of the property included in the previous deed
- The name of the notary acknowledging the document
Quitclaim Deeds vs. Other Property Transfer Methods in New York
| Quitclaim Deed | When two parties who know each other, like family members, exchange property in New York, they may use a quitclaim deed. Using a quitclaim deed in a stranger exchange of property is risky, as it does not protect the grantee from any problems with the title like financial issues associated with it or inaccuracies. |
| Grant Deed | Grant deeds offer a bit more protection to grantees, as they protect against two potential issues. Number one, the grantor could not have transferred the property to someone else previously. Number two, the current owner could not have racked up any debts or legal claims affecting the transfer of the property. |
| Warranty Deed | New York warranty deeds come in two types — general warranty deeds and specialty warranty deeds. General warranties offer maximum protection to grantees by warranting against all title defects from the property's beginning. Specialty warranties only cover defects caused by the grantor during their ownership. |
| Title Insurance | In New York, title insurance protects property owners against any unknown defects in the title at the time of transfer. For owner's, title insurance policies can cover up to the full original sales price of the property. The grantees of a quitclaim deed may purchase a title insurance policy from the grantor. |
| Estate Planning Deeds | Transfer on death deeds (TODDs), while commonly used in other states for estate planning, are not permissible in New York. Instead, New Yorkers use a "life estate deed" to reserve a "life estate." This means that the grantor deeds the property to the grantee while maintaining their right to occupy the property until death. |
| Co-ownership | In New York, you can hold property with a co-owner in three ways. A tenancy by the entirety allows spouses to co-own a property as one entity. A joint tenancy means two people co-own a property with equal rights and obligations. Tenants in common are two or more parties sharing property ownership in equal or different amounts. |
Sample New York Quitclaim Deed
View a free example of a New York quitclaim deed. Use our document editor to customize it and download it in your preferred format, either PDF or Word.
Frequently Asked Questions
When might a quitclaim deed be necessary?
Quitclaim deeds are often used in non-traditional property transfers, such as gifts or court orders. Common scenarios include transferring property between family members, adding a spouse to the property title after marriage, divorce settlements, and transferring property into a trust.
How to correct a New York quitclaim deed?
To correct a typo on a New York quitclaim deed, you would typically need to prepare and record a new document, known as a “Correction Deed” or “Corrective Quitclaim Deed.” Here’s a general process on how to do it:
- Identify the Error: Clearly identify the typo or error in the original quitclaim deed. It’s important to understand whether the mistake is minor (like a typographical error) or significant (which might affect the legal description of the property or the grantee’s name).
- Prepare the Correction Deed: Draft a new deed, specifically a corrective quitclaim deed, that clearly states the correction from the original deed. This new deed should reference the original deed by its recording date and book/page number or document number, describe the error being corrected, and then state the correct information.
- Include a Statement of Correction: The corrective deed should include a statement indicating that its sole purpose is to correct the error in the original deed. This statement should specify what the error was and the corrected information.
- Signatures: The person or persons who originally signed the quitclaim deed (the grantor(s)) must sign the corrective deed in front of a notary public. The requirements for witnesses can vary by county, so it’s important to check with the local county clerk or recorder’s office.
- Notarization: The corrective deed must be notarized. This involves the grantor(s) signing the document in the presence of a notary public who then notarizes the deed.
- Recording: Once properly executed, the corrective deed needs to be recorded with the county clerk’s office or the appropriate local land records office where the property is located. There may be a recording fee.
- Check Local Requirements: It’s important to check with the local county clerk or recorder’s office for any specific requirements or forms they may have for filing a corrective deed. Some counties might have specific forms or additional requirements.
Will a quitclaim deed release me from a mortgage obligation?
A quitclaim deed influences solely the ownership title of the property and does not impact any debt or loan responsibilities of either spouse. Regardless of how property is divided in your divorce, both parties remain accountable for settling any shared debts.
