Realty Transfer Fee
New Jersey imposes a Realty Transfer Fee (RTF) on the seller of real property for recording a deed for the sale. The RTF is calculated based on the amount of consideration recited in the deed, or in certain instances, the assessed valuation of the property conveyed, divided by the Director’s Ratio. The RTF applies to every conveyance of title to real property in New Jersey, unless the deed or transfer meets an exemption. An Affidavit of Consideration for Use by Seller, Form RTF-1 , must be filed with any deed in which a full or partial exemption is claimed from the RTF.
When an application is made to the sheriff of any county for the sale of any real property, whether under execution or pursuant to any writ, judgment or order, a completed Affidavit of Consideration for Sheriff’s Deeds (RTF-8 ) must be supplied to the sheriff. This affidavit lists the name of any other mortgagees and other holders of encumbrances and the current balance of all prior mortgages, liens, or encumbrances constituting consideration. The RTF-8 is not an exemption from the RTF.
