Department of Taxation and Finance
                                                                                                        TP-584-I(7/21)
             Instructions for Form TP-584
             Combined Real Estate Transfer Tax Return,
             Credit Line Mortgage Certificate, and Certification of
             Exemption from the Payment of Estimated Personal Income Tax

Highlights                                                          tax due no later than the fifteenth day after the delivery of 
A limited liability company (LLC) must disclose all owners until    the instrument effecting the conveyance, directly with:
full disclosure of ultimate ownership to the natural persons.               NYS TAX DEPARTMENT
Effective April 19, 2021, members of an LLC that are a publicly             RETT RETURN PROCESSING
traded company, a real estate investment trust (REIT), an                   PO BOX 5045
umbrella partnership real estate investment trust (UPREIT) or               ALBANY NY 12205-5045
a mutual fund, no longer have to provide names and business 
addresses of its shareholders, directors, officers, members,        Private delivery services – See Publication 55, Designated 
managers, and partners with a return. See Single and                Private Delivery Services.
multi-member LLC.
                                                                    Payment of estimated personal income tax
Purpose of Form TP-584                                              Nonresident individuals, estates, and trusts must comply with 
Form TP-584 must be used to comply with the filing                  the provisions of Tax Law § 663, estimating the personal income 
requirements of the real estate transfer tax (Tax Law Article 31);  tax on the gain, if any, from the sale or transfer of certain real 
the tax on mortgages (Tax Law Article 11), as it applies to         property, or shares of stock in a cooperative housing corporation, 
the Credit Line Mortgage Certificate; and the exemption from        in connection with the grant or transfer of a proprietary leasehold 
estimated personal income tax (Tax Law Article 22), as it applies   by the owner of the shares, where the cooperative unit 
to the sale or transfer of real property or cooperative units under represented by such shares is located in New York State. 
Tax Law § 663(a).
                                                                    Form IT-2663
Since this form is used to satisfy the filing requirements          Use Form IT-2663, Nonresident Real Property Estimated Income 
of three distinct taxes, rely on the definition of terms and        Tax Payment Form, to compute the gain (or loss) and pay the 
instructions as they pertain to each schedule.                      estimated personal income tax due from the sale or transfer of 
                                                                    certain real property. You will need to present Form IT-2663 and 
Who must file                                                       pay the full amount of estimated personal income tax due, if 
Form TP-584 must be filed for each conveyance of real property      any, to the recording officer at the time the deed is presented for 
from a grantor/transferor to a grantee/transferee.                  recording.

It may not be necessary to complete all the schedules on            Form IT-2664
Form TP-584. The nature and condition of the conveyance will        Use Form IT-2664, Nonresident Cooperative Unit Estimated 
determine which of the schedules you must complete. See the         Income Tax Payment Form, to compute the gain (or loss) 
specific instructions for completing each schedule.                 and pay the estimated personal income tax due from the 
Note: Public utility companies, regulated by the Public Service     sale or transfer of the cooperative unit. You will need to file 
Commission, and governmental agencies that are granted              Form IT-2664 and pay the full amount of estimated personal 
easements and licenses for consideration of less than $500 may      income tax due, if any, to the NYS Tax Department within 
use Form TP-584.2, Real Estate Transfer Tax Return for Public       15 days of the delivery of the instrument effecting the sale 
Utility Companies’ and Governmental Agencies’ Easements             or transfer of the cooperative unit.
and Licenses, to record these conveyances. For purposes of 
Form TP-584.2, a governmental agency is the United Nations,         Schedule D
the United States of America, the state of New York, or any of      The requirement for payment of estimated personal income tax 
their instrumentalities, agencies, or political subdivisions, or    under Tax Law § 663 does not apply to individuals, estates, 
any public corporation, including a public corporation created      or trusts who are residents of New York State at the time 
pursuant to an agreement or compact with another state or           of the sale or transfer. However, residents must complete 
Canada.                                                             Form TP-584, Schedule D, Certification of exemption from the 
                                                                    payment of estimated personal income tax. See Who must 
A conveyance of an easement or license to a public utility          complete Schedule D for more information.
company, where the consideration is $2 or less and is clearly 
stated as actual consideration in the instrument of conveyance,     In addition, the requirement may not apply to certain sales or 
does not require the filing of Form TP-584 or Form TP-584.2.        transfers even if the individual, estate, or trust is a nonresident at 
                                                                    the time of the sale or transfer. An exemption may be allowed if 
When and where to file                                              any of the following apply:
File Form TP-584 with the recording officer of the county where     •  The real property or cooperative unit being sold or transferred 
the real property being conveyed is located, no later than the        is a principal residence of the transferor/seller within the 
fifteenth day after the delivery of the instrument effecting          meaning of Internal Revenue Code (IRC) section 121.
the conveyance. However, if the instrument effecting the            •  The transferor/seller is a mortgagor conveying the mortgaged 
conveyance will not be recorded, or will be recorded later than       property to a mortgagee in foreclosure or in lieu of foreclosure 
the time required to file Form TP-584 and to pay any real estate      with no additional consideration.
transfer tax, file Form TP-584 and pay any real estate transfer     •  The transferor or transferee is an agency or authority of the 
                                                                      United States of America, an agency or authority of New York 
                                                                      State, the Federal National Mortgage Association, the Federal 
                                                                      Home Loan Mortgage Corporation, the Government National 

Page 2 of 8  TP-584-I (7/21)
  Mortgage Association, or a private mortgage insurance             Partial commercial use – The documentation requirements 
  company.                                                          apply when the applicable property is partially used for 
                                                                    commercial purposes.
To claim any of the above exemptions, nonresidents of New York 
State must complete Schedule D. See Who must complete               Example: On September 13, 2019, MP, LLC, a multiple-member 
Schedule D for more information.                                    LLC, is the grantor in a deed transfer of a four-family house. 
                                                                    Three of the units are used as residences, and one unit is used 
Schedule D does not need to be completed if the interest            for commercial purposes as a retail store. The documentation 
being transferred is anything other than a fee simple interest      requirements apply.
in real property or a cooperative unit, or the property is being 
transferred by anyone or any entity other than an individual,       Location and description of property conveyed 
estate, or trust. However, Schedules A, B, and C must still 
be completed to satisfy the transfer tax and mortgage tax           Provide the location and description of the interest in real 
requirements.                                                       property being conveyed by entering the tax map designation, 
                                                                    the Statewide Information System Code (SWIS Code), and 
                                                                    address as they appear in your deed, lease, or other 
Instructions for Schedule A                                         instrument that conveys the interest in real property. 
Name and address box                                                If you do not know your SWIS Code, go to 
                                                                    http://orpts.tax.ny.gov/cfapps/MuniPro/swis/index.cfm?  
Print or type the name, address, and Social Security number         You may also obtain the SWIS Code from your tax bill or by 
(SSN) or employer identification number (EIN) of the grantor and    contacting the assessor’s office where the property is located. 
grantee as they appear in your deed, lease, or other instrument     Also include the name of the city or village, town, and county 
that conveys the interest in real property. If additional space is  where the property conveyed is located.
needed, attach a schedule in the same format to Form TP-584 
and include the name, address, and SSN or EIN of all the            Type of property conveyed 
grantors and grantees. If the grantor or grantee is a single 
member limited liability company (LLC), enter the name and          Indicate the type of property being conveyed by marking an X in 
identification number (SSN or EIN or both) for both the LLC and     the appropriate box. If you are conveying a one- to three-family 
the single member (also see Single and multi-member LLC).           house, a residential cooperative apartment, or a residential 
If the conveyance is pursuant to a mortgage foreclosure or          condominium unit, you may be entitled to the continuing lien 
any other action governed by the Real Property Actions and          deduction. See Continuing lien deduction for more information.
Proceedings Law, the defaulting mortgagor or debtor is the 
grantor.                                                            Date of conveyance 
                                                                    Enter the date the instrument effecting the conveyance was 
Single and multi-member LLC                                         delivered from the grantor to the grantee. The date of the 
If the grantor or grantee is an LLC and the property being          instrument is presumed to be the date of delivery of the 
conveyed is a building containing up to four family dwelling units, instrument.
Form TP-584 cannot be accepted for filing unless accompanied 
by documentation that identifies all members, managers, and         Percentage of real property conveyed which is residential 
other authorized persons of the LLC. If any member of the LLC       real property 
is itself an LLC or other business entity, other than a publicly    Enter the percentage of the entire real property conveyed that is 
traded entity, a real estate investment trust (REIT), an            residential real property (see Imposition of additional tax, for a 
umbrella partnership real estate investment trust (UPREIT),         definition of residential real property).
or a mutual fund, a list of all shareholders, directors, officers, 
members, managers, and/or partners of that LLC or other             Condition of conveyance 
business entity must also be provided until ultimate ownership      Mark an  Xin the boxes indicating the conditions that apply. 
by natural persons is disclosed. See Definition of terms for the    If items e, f, or  gare checked, Form TP-584.1, Real Estate 
real estate transfer tax, for the meanings of natural person and    Transfer Tax Return Supplemental Schedules, must be attached 
authorized person.                                                  to Form TP-584 with the appropriate schedule completed.
The required documentation must include the following 
information for each individual and entity:                         Instructions for Schedule B 
•  name; and                                                        Imposition of tax
•  address of the business or individual.                           A real estate transfer tax (Part 1 of this schedule) is imposed 
                                                                    on each conveyance at the time the instrument effecting the 
Example: On September 16, 2019, RRP, LLC, a single-member           conveyance is delivered by a grantor to a grantee when the 
LLC, is the grantor in a deed transfer of a two-family house to an  consideration or value of the interest conveyed exceeds $500. 
individual. RRP, LLC’s single member is ABC Partnership. ABC        The tax is computed at a rate of two dollars for each $500 of 
Partnership has four individual partners and one partner, RRP2,     consideration or fractional part thereof.
LLC, that is a multiple-member LLC. RRP2, LLC has three 
individual members. Provide all required documentation for:         An additional tax (Part 2 of this schedule) is imposed on the 
• all managers and other authorized persons of RRP, LLC;            conveyance of residential real property where the consideration 
                                                                    for the entire conveyance is $1 million or more. For more 
• ABC Partnership;                                                  information, see Imposition of additional tax.
• ABC Partnership’s four individual partners;
• RRP2, LLC;                                                        Definition of terms for the real estate transfer tax 
• RRP2, LLC’s three individual members;                             1.  Person means an individual, partnership, society, 
                                                                        association, joint stock company, corporation, estate, 
• all officers and directors of ABC Partnership; and                    receiver, trustee, assignee, referee, or any other person 
• all officers, directors, and managers of RRP2, LLC.                   acting in a fiduciary or representative capacity, whether 
                                                                        appointed by a court or otherwise, any combination of 

                                                                                                       TP-584-I (7/21)  Page 3 of 8
    individuals, and any other form of unincorporated enterprise       d)  In the case of an assignment or surrender of a leasehold 
    owned or conducted by two or more persons.                            interest or the assignment or surrender of an option or 
   Person includes any                                                    contract to purchase real property; consideration does 
                                                                          not include the value of the remaining rental payments 
    •  individual, corporation, partnership or LLC, or                    required to be made pursuant to the terms of such lease, 
    •  officer or employee of any corporation (including a                or the amount to be paid for the real property pursuant 
    dissolved corporation), or a member or employee of                    to the terms of the option or contract being assigned or 
    any partnership, or a member, manager, or employee                    surrendered.
    of an LLC, who has or is under a duty to act for such              e)  In the case of (1) the original conveyance of shares of 
    corporation, partnership, LLC or individual proprietorship in         stock in a cooperative housing corporation in connection 
    complying with any requirement of the real estate transfer            with the grant or transfer of a proprietary leasehold by 
    (Tax Law Article 31).                                                 the cooperative corporation or cooperative plan sponsor 
2.  Natural person means a human being, as opposed to an                  and (2) the subsequent conveyance by the owner thereof 
    artificial person, who is the beneficial owner of the real            of such stock in a cooperative housing corporation in 
    property. A natural person does not include: a corporation or         connection with the grant or transfer of a proprietary 
    partnership, natural person or persons operating a business           leasehold for a cooperative unit other than an individual 
    under a DBA (doing business as), an estate such as the                residential unit; consideration includes a proportionate 
    estate of a bankrupt or deceased person, or a trust.                  share of the unpaid principal of any mortgages on the 
3.  Authorized person means a person, whether or not a                    real property of the cooperative housing corporation 
    member, who is authorized by the operating agreement, or              comprising the cooperative dwelling or dwellings. This 
    otherwise, to act on behalf of an LLC or foreign LLC.                 amount is determined by multiplying the total unpaid 
4.   Controlling interest means (a) in the case of a corporation,         principal of the mortgage by a fraction, the numerator of 
    either 50% or more of the total combined voting power of              which is the number of shares of stock in the cooperative 
    all classes of stock of such corporation, or 50% or more of           housing corporation being conveyed in connection with 
    the capital, profits, or beneficial interest in such voting stock     the grant or transfer of the proprietary leasehold, and the 
    of such corporation, and (b) in the case of a partnership,            denominator of which is the total number of shares of 
    association, trust, or other entity, 50% or more of the capital,      stock in the cooperative housing corporation.
    profits or beneficial interest in such partnership, association,  7.  Conveyance means the transfer, or transfers, of any 
    trust, or other entity.                                               interest in real property by any method; including but not 
5.  Real property means every estate or right, legal or equitable,        limited to sale, exchange, assignment, surrender, mortgage 
    present or future, vested or contingent, in lands, tenements,         foreclosure, transfer in lieu of foreclosure, option, trust 
    or hereditaments, including buildings, structures, and other          indenture, taking by eminent domain, conveyance upon 
    improvements thereon, which are located in whole or in part           liquidation or by a receiver, or transfer or acquisition of 
    within the state of New York. It does not include rights to           a controlling interest in any entity with an interest in real 
    sepulture.                                                            property. Transfer of an interest in real property includes 
                                                                          the creation of a leasehold or sublease only where (a) the 
6.  Consideration means the price actually paid, or required to           sum of the term of the lease or sublease and any options 
    be paid, for the real property or interest therein; including         for renewal exceeds 49 years, (b) substantial capital 
    payment for an option or contract to purchase real property           improvements are or may be made by or for the benefit 
    whether or not expressed in the deed and whether paid,                of the lessee or sublessee, and (c) the lease or sublease 
    or required to be paid, by money, property, or any other              is for substantially all of the premises constituting the real 
    thing of value. It includes the cancellation or discharge of          property. The conveyance of real property shall not include 
    an indebtedness or obligation. It also includes the amount            a conveyance pursuant to devise, bequest, or inheritance; 
    of any mortgage, purchase money mortgage, lien, or other              the creation, modification, extension, spreading, severance, 
    encumbrance, whether or not the underlying indebtedness is            consolidation, assignment, transfer, release or satisfaction 
    assumed or taken subject to.                                          of a mortgage; a mortgage subordination agreement; a 
   a)  In the case of a creation of a leasehold interest or the           mortgage severance agreement; an instrument given to 
    granting of an option with use and occupancy of real                  perfect or correct a recorded mortgage; or a release of lien 
    property; consideration includes, but is not limited to, the          of tax pursuant to the Tax Law or the IRC.
    value of the rental and other payments attributable to the 
    use and occupancy of the real property or interest therein,       8.  Interest in the real property includes title in fee, a leasehold 
    the value of any amount paid for an option to purchase                interest, a beneficial interest, an encumbrance, development 
    or renew, and the value of rental or other payments                   rights, air space and air rights, or any other interest with 
    attributable to the exercise of any option to renew.                  the right to use or occupancy of real property; or the right 
                                                                          to receive rents, profits, or other income derived from real 
   b)  In the case of a creation of subleasehold interest;                property. It also includes an option or contract to purchase 
    consideration includes, but is not limited to, the value of           real property. It does not include a right of first refusal to 
    the sublease rental payments attributable to the use and              purchase real property.
    occupancy of the real property, the value of any amount 
    paid for an option to renew, and the value of rental or           9.  Grantor means the person making the conveyance of 
    other payments attributable to the exercise of any option             real property or interest therein; or where the conveyance 
    to renew, less the value of the remaining prime lease                 consists of a transfer or an acquisition of a controlling 
    rental payments required to be made.                                  interest in an entity with an interest in real property, the entity 
                                                                          with an interest in real property or a shareholder or partner 
   c)  In the case of a transfer or an acquisition of a                   transferring stock or partnership interest, respectively.
    controlling interest in any entity that owns real property; 
    consideration means the fair market value of the real             10. Grantee means the person who obtains real property or any 
    property or interest therein, apportioned based on the                interest therein as a result of a conveyance.
    percentage of the ownership interest transferred or               11. Fair market value means the amount a willing buyer would 
    acquired in the entity.                                               pay a willing seller for the real property without deducting 
                                                                          mortgages or other liens that the property may be taken 
                                                                          subject to as part of the sale or transfer.

Page 4 of 8 TP-584-I (7/21)
Real property situated partly within and partly outside the           A discount rate equal to 110% of the federal long-term rate 
state                                                                 compounded semiannually, that was in effect 30 days prior to the 
When real property conveyed is situated partly within and partly      date of transfer, is required to be used in determining the present 
outside New York State, the consideration subject to tax is the       value of the right to receive net rental payments for transfer tax 
allocated portion of the total consideration attributable to the      purposes. If the taxpayer establishes (a) that a discount rate 
property situated within New York State.                              greater than 110% of the federal long-term rate is appropriate in 
                                                                      his or her particular circumstances, and (b) that using a discount 
A statement signed by both the grantor and grantee must be            rate equal to 110% of the federal long-term rate results in a 
attached to Form TP-584 setting forth the total consideration for     computation of consideration that exceeds the fair market value 
the conveyance and describing the method used to apportion            of the real property subject to the lease or sublease, the Tax 
the consideration to the real property situated within New York       Department will allow the use of a discount rate that results in 
State.                                                                a computation of consideration that is equal to the fair market 
                                                                      value of such real property.
Continuing lien deduction 
Tax Law § 1402 provides that in the case of (1) a conveyance          For a lease created for a term of less than 49 years that contains 
of a one- to three-family house and an individual residential         an option to purchase the real property, net rental payments for 
condominium unit, or an interest therein; or (2) conveyances          periods that occur after an option is no longer exercisable are 
where the consideration is less than $500,000, the taxable            not included in the calculation of consideration.
consideration shall exclude the value of any lien or encumbrance 
remaining thereon at the time of the conveyance.                      Transfer or acquisition of a controlling interest 
                                                                      A transfer of a controlling interest is deemed to have occurred 
In addition, Tax Law § 1405-B provides that in the case of            when a grantor transfers a controlling interest to one or more 
a resale of an individual residential cooperative unit, the           grantees within a three-year period.
consideration for the interest conveyed shall exclude the value 
of any liens on certificates of stock or other evidences of an        An acquisition of a controlling interest is deemed to have 
ownership interest in, and a proprietary lease from, a corporation    occurred when a grantee acquires a controlling interest from one 
or partnership formed for the purpose of cooperative ownership        or more grantors within a three-year period.
of residential interest in real estate remaining thereon at the time  Example: A acquires a 10% interest in Partnership XYZ, which 
of conveyance.                                                        owns New York real property, from  X  in December 2009. 
Examples:                                                             In March 2011,  Aacquires an additional 25% interest in 
                                                                      Partnership XYZ from X. In January, 2012,  Aacquires from     Y a 
1)  A purchases a one-family residence from B for a total             25% interest in Partnership XYZ. Since  Aacquired a total of 50% 
   consideration of $150,000 ($100,000 in cash and the                or more of the partnership interest in Partnership XYZ within a 
   assumption of B’s existing mortgage of $50,000). Since the              -year period,  Ais deemed to have acquired a controlling 
   existing mortgage which is being assumed would constitute          three
                                                                      interest. Therefore, a conveyance of real property by X and Y has 
   a continuing lien, in determining the taxable consideration        occurred and X and Y will be liable for the payment of real estate 
   for real estate transfer tax (line 3 of Form TP-584,               transfer tax on their respective transfers of 35% and 25% interests.
   Schedule B)  Acan deduct the amount of the mortgage 
   assumed ($150,000 – 50,000 = $100,000). Consequently, the 
   tax is not computed on the gross consideration, but rather on      Conveyance pursuant to a mortgage foreclosure
   gross consideration less the continuing lien (that is, mortgage    A conveyance pursuant to a mortgage foreclosure or any other 
   assumed).                                                          action governed by the provisions of the Real Property Actions 
                                                                      and Proceedings Law, such as the enforcement of a mechanic’s 
2)  A commercial building is sold to  Afor $725,000, comprised        lien pursuant to the Lien Law Article 3, is subject to tax.
   of $400,000 in cash and the assumption by A of an existing 
   $325,000 mortgage. Since the consideration for the                 Form TP-584.1, Schedule E, Part 1, must be completed and 
   conveyance exceeds $500,000, the transfer tax must be              attached to Form TP-584 in the case of such conveyances.
   computed on $725,000, and the continuing lien deduction is 
   not applicable.                                                    Conveyance to a mortgagee or lienor in lieu of foreclosure 
If a conveyance is pursuant to, or in lieu of, an action to           A conveyance by a defaulting mortgagor or debtor to the 
foreclose a mortgage, lien, or other security interest; the amount    mortgagee or lienor, or its agent, nominee or any entity owned 
of the continuing lien deduction does not include the amount          in whole by that mortgagee or lienor, in lieu of an action to 
of the debt secured by that mortgage, lien, or other security         foreclosure a mortgage or lien, in exchange for cancellation of 
interest, which is the subject of the conveyance.                     the debt secured by the mortgage or lien, is subject to tax.
                                                                      Form TP-584.1, Schedule E, Part 2, must be completed and 
Conveyance pursuant to a divorce or separation agreement              attached to Form TP-584 in the case of such conveyances.
A conveyance of an interest in real property from one spouse 
to the other pursuant to the terms of a divorce or separation         Conveyance in lieu of or pursuant to a secured party’s 
agreement may be subject to transfer tax. There is a rebuttable       enforcement of a lien
presumption in such situation that the consideration for the          A conveyance in lieu of, or pursuant to, a secured party’s 
conveyance, which includes the relinquishment of marital              enforcement of a lien, security interest, or other rights on or 
rights, is equal to the fair market value of the interest in the real in shares of stock in a cooperative housing corporation or 
property conveyed.                                                    associated proprietary leases or both, upon default by a debtor, 
                                                                      is subject to tax.
Conveyance of a leasehold grant 
The consideration paid to the grantor for the grant of a taxable      Form TP-584.1, Schedule E, Part 3, must be completed and 
lease is the present value of the right to receive the net rental     attached to Form TP-584 in the case of such conveyances.
payments for the term of the lease.                                   A conveyance in lieu of, or pursuant to, a secured party’s 
                                                                      enforcement of a lien, security interest, or other rights on or 
                                                                      in shares of stock, partnership interests, or other instruments, 

                                                                                                        TP-584-I (7/21)  Page 5 of 8
upon default by a debtor (that is, the transfer or acquisition of a   of conveyance: a one- to three-family house; an individual 
controlling interest in an entity with an interest in real property), residential condominium unit; or a residential cooperative 
is subject to tax.                                                    apartment. The rate of tax is one percent of the consideration, or 
                                                                      part thereof, attributable to the residential real property.
Form TP-584.1, Schedule E, Part 4, must be completed and 
attached to Form TP-584 in the case of such conveyances.              The additional tax is to be paid by the grantee, at the same 
                                                                      time and in the same manner as the real estate transfer tax. 
Conveyance which consists of a mere change of identity or             However, if the grantee fails to pay the tax at the time required, 
form of ownership or organization                                     or if the grantee is exempt from the tax, the grantor shall have 
Tax Law § 1405(b)(6) provides an exemption from the real estate       the duty to pay the tax.
transfer tax to the extent a conveyance consists of a mere            Examples:
change of identity, or form of ownership or organization, where 
there is no change in beneficial interest.                            1)  A conveys to  Ba three-family house for a   
                                                                      consideration of $1 million. Since the three-family house 
Form TP-584.1, Schedule F, must be completed and attached to          constitutes residential real property, the additional tax at a 
Form TP-584 in the case of such conveyances.                          rate of one percent is imposed on the conveyance.
                                                                      2)  One unit of a two-family house is used for residential 
Conveyance for which credit for tax previously paid will be           purposes, and the other unit is used for commercial purposes 
claimed                                                               as a retail store. The owner sells the house for $1.5 million. 
1.  A grantor will be allowed a credit against the tax due on the     The residential unit is valued at $500,000 while the retail 
 conveyance of real property, to the extent the tax was paid by       unit is valued at $1 million. In determining whether the 
 the grantor on a prior leasehold grant of all or a portion of the    consideration for the conveyance is $1 million or more, 
 same real property or on the granting of an option or contract       the consideration for the entire conveyance must be taken 
 to purchase all or a portion of the same real property, by the       into account. In this case, the consideration for the entire 
 grantor.                                                             conveyance ($1.5 million) exceeds $1 million. Therefore, the 
 Form TP-584.1, Schedule G, Part 1, must be completed and             conveyance is subject to the additional tax but only on the 
 attached to Form TP-584 to support any credit claimed.               value of the residential unit ($500,000).
2.  A credit will be allowed upon the original conveyance             3)  A sponsor of a condominium plan conveys to X Corporation 
 of shares of stock in a cooperative housing corporation              three residential condominium units. The three units are not 
 in connection with the grant or transfer of a proprietary            used in conjunction with one another. The consideration 
 leasehold by the cooperative corporation or cooperative plan         paid for Unit 1 is $750,000. The consideration paid for 
 sponsor, provided the first conveyance of shares of stock            Unit 2 is $900,000, and the consideration paid for Unit 3 
 takes place within 24 months from the conveyance of the              is $1.25 million. Since the consideration paid for Unit 3 is 
 real property to the cooperative housing corporation. The            $1 million or more, the additional tax is imposed on the 
 credit is limited to the proportionate part of the tax paid when     conveyance of that unit. However, the additional tax does not 
 the real property was conveyed to the cooperative housing            apply to Units 1 or 2.
 corporation, to the extent the conveyance would have 
 otherwise effectuated a mere change of identity, or form of          Penalties 
 ownership, of the property and not a change in the beneficial        Any grantor or grantee failing to file a return or to pay any tax 
 ownership.                                                           within the time required shall be subject to a penalty of 10% of 
                                                                      the amount of tax due, plus an interest penalty of 2% of such 
Form TP-584.1, Schedule G, Part 2, must be completed and              amount for each month of delay, or fraction thereof, following the 
attached to Form TP-584 to support any credit claimed.                expiration of the first month after such return was required to be 
                                                                      filed or the tax became due. However, the interest penalty shall 
Who must pay the real estate transfer tax                             not exceed 25% in the aggregate.
The real estate transfer tax is to be paid by the grantor (seller) 
and such tax shall not be payable, directly or indirectly, by the     If the Commissioner of Taxation and Finance determines that 
grantee except as provided in a contract between grantor and          such failure or delay was due to reasonable cause and not due 
grantee. However, if the grantor fails to pay the transfer tax at     to willful neglect, the commissioner shall remit, abate, or waive 
the time required, or if the grantor is exempt from the tax, the      all of the penalty and the interest penalty.
grantee (buyer) shall have the duty to pay the tax.
                                                                      Interest 
In the case of the conveyance of residential real property, if the    Daily compounded interest will be charged on the amount of the 
transfer tax is paid by the buyer pursuant to a contract between      tax due not paid within the time required.
the buyer and seller, the amount of tax shall be excluded from 
the calculation of consideration subject to tax.                      If it is determined that the tax has been overpaid and 
                                                                      Form TP-592.2, Real Estate Transfer Tax Claim for Refund, is 
Where the grantee has the duty to pay the transfer tax because        submitted within two years from the date of payment, interest 
the grantor has failed to pay, the tax becomes the joint and          shall be allowed and paid on the refund at the rate set pursuant 
several liability of the grantor and the grantee; provided that       to Tax Law § 1416.
in the event of such failure, the grantee shall have a cause of 
action against the grantor for recovery of payment of such tax by 
the grantee.                                                          Line instructions for Schedule B
Imposition of additional tax                                          Part 1 
An additional tax is imposed on each conveyance of residential        Line 1 – Enter the amount of consideration. If in 
real property, or interest therein, where the consideration for       Schedule A, items e, f, or  gwere checked, complete the 
the entire conveyance is $1 million or more. Residential real         applicable Schedule E, F, or G of Form TP-584.1, that must be 
property means the following premises that are, or may be,            attached to Form TP-584. If you are claiming a total exemption 
used in whole or in part as a personal residence at the time          from tax, mark an X in the Exemption claimed box. Do not 
                                                                      complete lines 2 through 6. Instead, go to Part 3 on page 2.

Page 6 of 8  TP-584-I (7/21)

Line 2 – Enter continuing lien deduction if applicable (see        Definition of terms for Schedule D
Continuing lien deduction).                                        Transferor/seller means the individual, estate, or trust listed 
Line 5 – Enter the amount of tax credit claimed. Complete and      as a grantor/transferor in Schedule A (or an attachment to 
attach a copy of Form TP-584.1, Schedule G, along with a           Form TP-584) making:
copy of the original Form TP-584 (previously filed) and proof of   •  the sale or transfer of a fee simple interest in real property, or
payment to support the credit claimed.                             •  the sale, conveyance, or other disposition of shares of stock 
                                                                     in a cooperative housing corporation in connection with the 
Part  3                                                              grant or transfer of a proprietary leasehold by the owner of 
Mark an  Xin the appropriate box or boxes if you are claiming a      the shares, where the cooperative unit represented by such 
total exemption from the transfer tax.                               shares is located in New York State. 
                                                                   Sale or transfer of real property means the change of ownership 
Instructions for Schedule C                                        of a fee simple interest in real property by any method.
Who must complete Schedule C                                       Sale or transfer of a cooperative unit means the sale, 
The Credit Line Mortgage Certificate must be completed and         conveyance or other disposition of shares of stock in a 
filed for all transfers of a fee simple interest in real property. cooperative housing corporation in connection with the grant or 
Mark an  Xin the appropriate box in Schedule C if this schedule    transfer of a proprietary leasehold.
is required.
                                                                   Cooperative housing corporation means a corporation that 
                                                                   has only one class of stock that entitles the shareholder to 
Signatures required for Schedules A, B,                            live in a house or an apartment (cooperative unit) in a building 
and C                                                              or on property owned or leased by the corporation. Housing 
Both the grantors and the grantees must sign Form TP-584           cooperatives can be, but are not limited to single-family 
on page 3. If there is not adequate space for all persons to       homes, duplexes, townhouses, apartments, dormitories, land 
sign, a separate signature sheet may be used and attached to       subdivisions with sites and utilities, mobile home parks, and 
Form TP-584. A separate signature area is provided on page 4       marinas.
for the information contained in Schedule D.                       Cooperative unit means the physical space represented 
                                                                   by shares of stock in a cooperative housing corporation in 
Instructions for Schedule D                                        connection with a proprietary leasehold.
Note: A separate signature area is provided for Schedules A, B,    Proprietary leasehold means an agreement between a 
and C. The signature area on page 3 of Form TP-584 does not        cooperative tenant-stockholder and the cooperative housing 
apply for purposes of Schedule D.                                  corporation that defines the rights and obligations of each party 
                                                                   regarding use and occupancy of the cooperative unit.
Who must complete Schedule D
This schedule is to be executed upon the sale or transfer of a     Principal residence means your main home within the meaning 
fee simple interest in real property or a cooperative unit located of IRC section 121 and for which you can exclude the gain for 
in New York State by an individual, estate, or trust claiming      federal income tax purposes. Usually the home you live in most 
exemption from the estimated personal income tax provisions        of the time is your main home and can be, but is not limited to: a 
under Tax Law § 663.                                               house, houseboat, mobile home, condominium, or cooperative 
                                                                   apartment.
New York State residents – If you are a resident of New York 
State at the time of the sale or transfer, you must complete       New York State resident and nonresident defined
Part 1 (see Specific instructions for Schedule D).                 You may have to pay personal income tax as a New York State 
New York State nonresidents – If you are a nonresident             resident even if you are not considered a resident for other 
of New York State at the time of sale or transfer, you must        purposes. For personal income tax purposes, your resident 
complete Part 2 (see Specific instructions for Schedule D).        status depends on where you are domiciled and where you 
                                                                   maintain a permanent place of abode.
Multiple transferors/sellers                                       In general, your domicile is the place you intend to have as your 
Each grantor/transferor listed in Schedule A (or an attachment     permanent home. Your domicile is, in effect, the state where 
to Form TP-584) who does not meet the requirements to claim        your permanent home is located. It is the place you intend to 
exemption from the payment of estimated personal income tax        return to whenever you may be away (as on vacation abroad, 
as stated in Part 1 or Part 2 of Schedule D must either:           business assignment, education leave, or military assignment).
•  for sale or transfer of real property, present Form IT-2663,    You can have only one domicile. Your domicile is not changed 
and pay the full amount of estimated personal income tax due,      until you can demonstrate that you have abandoned your 
if any, to the recording officer at the time the deed is presented previous domicile and established a new permanent domicile.
for recording; or
                                                                   If you move to a new location but intend to stay there only for a 
•  for sale or transfer of a cooperative unit, file Form IT-2664,  limited amount of time (no matter how long), your domicile does 
and pay the full amount of estimated personal income tax           not change.
due, if any, to the NYS Tax Department within 15 days of the 
delivery of the instrument effecting the sale or transfer of the   A permanent place of abode is a residence (a building or 
cooperative unit.                                                  structure where a person can live) you permanently maintain, 
                                                                   whether you own it or not, and usually includes a residence your 
Real property situated partly within and partly outside            spouse owns or leases. 
New York State – When the real property being sold or 
transferred is situated partly within and partly outside of 
New York State, only the property situated inside New York State 
is subject to the requirements of Tax Law § 663.

                                                                                                            TP-584-I (7/21)  Page 7 of 8
Resident individual                                                   Tax Law § 685(c), but not as a condition of recording a deed for 
For purposes of estimated personal income tax under Tax Law           the sale or transfer of real property.
§ 663, you are a New York State resident if at the time of the 
sale or transfer of real property or cooperative unit:                Part 2 – Nonresidents of New York State
a)  Your domicile is New York State; or                               New York State nonresident transferors/sellers listed 
b)  You maintain a permanent place of abode in New York State         in Schedule A (or an attachment to Form TP-584) 
   for substantially all of the tax year and spend 184 days or        must sign Part 2 to certify that the transferor/seller is a 
   more in New York State during the tax year*; whether or not        nonresident of New York State at the time of the sale or transfer, 
   you were domiciled in New York State (unless you were in           and to claim exemption from payment of estimated personal 
   active service in the military).                                   income tax as provided for under Tax Law § 663. Mark an X in 
                                                                      the box of the exemption which applies to this sale or transfer of 
   *Any part of a day is a day for this purpose.                      real property or cooperative unit. If any one exemption applies 
                                                                      to a transferor/seller, that transferor/seller is not required to 
Nonresident individual                                                pay estimated personal income tax to New York State under 
For purposes of estimated personal income tax under Tax Law           Tax Law § 663. If more signature space is needed, photocopy 
§ 663, you are a New York State nonresident if at the time of the     Schedule D and submit as many schedules as necessary to 
sale or transfer of real property or cooperative unit you were not    accommodate all nonresident transferors/sellers.
a resident.
                                                                      Note: If there are one or more transferors/sellers listed 
For more information on residency, visit our website (see Need        in Schedule A (or an attachment to Form TP-584), each 
Help? .)                                                              transferor/seller who is claiming exemption from the payment 
                                                                      of estimated personal income tax under Tax Law § 663 must 
Resident estate and trust                                             sign Part 2. Each nonresident transferor/seller who does not 
For purposes of estimated personal income tax under Tax Law           meet one of the exemptions as listed in Part 2 must complete a 
§ 663, if a decedent was domiciled in New York State at the           separate Form IT-2663 or Form IT-2664. For more information, 
time of his or her death, his or her estate is a resident estate      see Multiple transferors/sellers.
and any trust created by his or her will is a resident trust. If an 
irrevocable trust consists of property of a person domiciled          Nonresident exemption for principal residence 
in New York State when such property was transferred to the           If the real property or cooperative unit being sold or transferred 
irrevocable trust, it is a resident trust. The term resident trust    qualifies in total as the principal residence of nonresident 
also includes (1) any revocable trust consisting of property          transferors/sellers listed in Schedule A (or an attachment to 
of a person domiciled in New York State at the time such              Form TP-584), only the transferors/sellers who can claim this 
property was transferred to the trust if it has not later become      real property or cooperative unit as a principal residence (within 
irrevocable and (2) any revocable trust that has later become         the meaning of IRC section 121) at the time of the sale or 
irrevocable if the trust consists of property of a person domiciled   transfer can sign and certify the exemption from the estimated 
in New York State when it became irrevocable. The residence of        personal income tax provision under Tax Law § 663(c)(1).
the fiduciary does not affect the status of an estate or trust as a 
resident or nonresident.                                              Note: Real property or a cooperative unit that qualifies in total 
                                                                      as the principal residence of the transferor/seller qualifies for 
Nonresident estate or trust                                           the exemption even if part of the gain is not excluded under 
For purposes of estimated personal income tax under Tax Law           IRC section 121 because the gain exceeds the amount of the 
§ 663 a nonresident estate or trust means an estate or trust that     exclusion provided for in that section.
is not a resident estate or trust at the time of the sale or transfer Transferors/sellers listed in Schedule A of Form TP-584 (or an 
of real property or cooperative unit.                                 attachment to Form TP-584) who cannot claim this real property 
                                                                      or cooperative unit as their principal residence at the time of sale 
Specific instructions for Schedule D                                  or transfer should not sign Part 2. The transferors/sellers must 
                                                                      instead complete a separate Form IT-2663 or Form IT-2664. For 
Part 1 – New York State residents                                     more information, see Payment of estimated personal income 
New York State resident transferors/sellers listed in Schedule A      tax.
(or an attachment to Form TP-584), must sign Part 1 to certify 
that the transferor/seller is a resident of New York State (as        Property used in part as a principal residence
defined above) at the time of sale or transfer of the real property   If a portion of the real property or cooperative unit being 
or cooperative unit. If one or more transferors/sellers listed        sold or transferred qualifies as the principal residence of 
in Schedule A is a New York State resident, each resident             nonresident transferors/sellers listed in Schedule A (or an 
transferor/seller must sign Part 1. If more signature space is        attachment to Form TP-584) and a portion of the real property 
needed, photocopy Schedule D and submit as many schedules             or cooperative unit does not qualify,do notsign Part 2. Instead, 
as necessary to accommodate all resident transferors/sellers.         each nonresident transferor/seller listed in Schedule A (or 
                                                                      an attachment to Form TP-584) must complete a separate 
If the property is being conveyed by a referee pursuant to a          Form IT-2663 or Form IT-2664.
foreclosure proceeding, do not complete Part 1, but proceed 
to Part 2, and mark an  Xin the second box indicating that            Privacy notification –New York State Law requires all 
the transferor/seller is a mortgagor conveying the mortgaged          government agencies that maintain a system of records to 
property to a mortgagee in foreclosure, or in lieu of foreclosure     provide notification of the legal authority for any request for 
with no additional consideration. The referee should then sign at     personal information, the principal purpose(s) for which the 
the bottom.                                                           information is to be collected, and where it will be maintained. 
                                                                      To view this information, visit our website, or, if you do not 
Note: A resident of New York State is not required to pay estimated   have Internet access, call and request Publication 54, Privacy 
personal income tax under Tax Law § 663. However, a resident          Notification. See Need help? for the Web address and telephone 
may still be required to pay estimated personal income tax under      number.

Page 8 of 8 TP-584-I (7/21)

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