Department of Taxation and Finance
                                                                                              TP-584-NYC-I(7/21)
                  Instructions for Form TP-584-NYC
                  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

Highlights                                                          conveyance, does not require the filing of Form TP-584-NYC or 
A limited liability company (LLC) must disclose all owners until    Form TP-584.2.
full disclosure of ultimate ownership to the natural persons. 
Effective April 19, 2021, members of an LLC that are a publicly     When and where to file 
traded company, a real estate investment trust (REIT), an           File Form TP-584-NYC with the recording officer of the county 
umbrella partnership real estate investment trust (UPREIT) or       where the real property being conveyed is located, no later 
a mutual fund, no longer have to provide names and business         than the fifteenth day after the delivery of the instrument 
addresses of its shareholders, directors, officers, members,        effecting the conveyance. However, if the instrument effecting 
managers, and partners with a return. See Single and                the conveyance will not be recorded, or will be recorded later 
multi-member LLC.                                                   than the time required to file Form TP-584-NYC and to pay any 
                                                                    real estate transfer tax, file Form TP-584-NYC and pay any real 
Grandfathered conveyance                                            estate transfer tax due no later than the fifteenth day after the 
The additional base tax and the supplemental tax do not apply       delivery of the instrument effecting the conveyance, directly 
to conveyances that are made pursuant to binding written            with:
contracts entered into on or before April 1, 2019, provided              NYS TAX DEPARTMENT
the date of execution of the contract can be confirmed by                RETT RETURN PROCESSING
independent evidence.                                                    PO BOX 5045
                                                                         ALBANY NY 12205-5045
Form TP-584-NYC and all applicable taxes are due no later           Private delivery services – See Publication 55, Designated 
than the 15th day after the delivery of the deed or similar legal   Private Delivery Services.
document.
                                                                    Payment of estimated personal income tax
Purpose of Form TP-584-NYC                                          Nonresident individuals, estates, and trusts must comply 
Form TP-584-NYC must be used to comply with the filing              with the provisions of Tax Law § 663, estimating the personal 
requirements of the real estate transfer tax (Tax Law Article 31);  income tax on the gain, if any, from the sale or transfer of 
the tax on mortgages (Tax Law Article 11), as it applies to         certain real property, or shares of stock in a cooperative 
the Credit Line Mortgage Certificate; and the exemption from        housing corporation, in connection with the grant or transfer of 
estimated personal income tax (Tax Law Article 22), as it applies   a proprietary leasehold by the owner of the shares, where the 
to the sale or transfer of real property or cooperative units under cooperative unit represented by such shares is located in New 
Tax Law § 663(a).                                                   York State. 
Since this form is used to satisfy the filing requirements 
of three distinct taxes, rely on the definition of terms and        Form IT-2663
instructions as they pertain to each schedule.                      Use Form IT-2663, Nonresident Real Property Estimated Income 
                                                                    Tax Payment Form, to compute the gain (or loss) and pay the 
Who must file                                                       estimated personal income tax due from the sale or transfer of 
Form TP-584-NYC must be filed for each conveyance of real           certain real property. You will need to present Form IT-2663 and 
property from a grantor/transferor to a grantee/transferee.         pay the full amount of estimated personal income tax due, if 
                                                                    any, to the recording officer at the time the deed is presented for 
It may not be necessary to complete all the schedules on            recording.
Form TP-584-NYC. The nature and condition of the conveyance 
will determine which of the schedules you must complete. See        Form IT-2664
the specific instructions for completing each schedule.             Use Form IT-2664, Nonresident Cooperative Unit Estimated 
Note: Public utility companies, regulated by the Public Service     Income Tax Payment Form, to compute the gain (or loss) 
Commission, and governmental agencies that are granted              and pay the estimated personal income tax due from the 
easements and licenses for consideration of less than $500 may      sale or transfer of the cooperative unit. You will need to file 
use Form TP-584.2, Real Estate Transfer Tax Return for Public       Form IT-2664 and pay the full amount of estimated personal 
Utility Companies’ and Governmental Agencies’ Easements             income tax due, if any, to the NYS Tax Department within 
and Licenses, to record these conveyances. For purposes of          15 days of the delivery of the instrument effecting the sale 
Form TP-584.2, a governmental agency is the United Nations,         or transfer of the cooperative unit.
the United States of America, New York State, or any of their 
instrumentalities, agencies, or political subdivisions, or any      Schedule D
public corporation, including a public corporation created          The requirement for payment of estimated personal income tax 
pursuant to an agreement or compact with another state or           under Tax Law § 663 does not apply to individuals, estates, 
Canada.                                                             or trusts who are residents of New York State at the time 
                                                                    of the sale or transfer. However, residents must complete 
A conveyance of an easement or license to a public utility          Form TP-584-NYC, Schedule D, Certification of exemption from 
company, where the consideration is $2 or less and is               the payment of estimated personal income tax. See Who must 
clearly stated as actual consideration in the instrument of         complete Schedule D for more information.

Page 2 of 9  TP-584-NYC-I (7/21)
In addition, the requirement may not apply to certain sales or         an individual. RRP, LLC’s single member is ABC Partnership. 
transfers even if the individual, estate, or trust is a nonresident at ABC Partnership has four individual partners and one partner, 
the time of the sale or transfer. An exemption may be allowed if       RRP2, LLC, that is a multiple-member LLC. RRP2, LLC has 
any of the following apply:                                            three individual members. Provide all required documentation for:
•  The real property or cooperative unit being sold or transferred     •  all managers and other authorized persons of RRP, LLC;
  is a principal residence of the transferor/seller within the         •  ABC Partnership;
  meaning of Internal Revenue Code (IRC) section 121.
                                                                       •  ABC Partnership’s four individual partners;
•  The transferor/seller is a mortgagor conveying the mortgaged 
  property to a mortgagee in foreclosure or in lieu of foreclosure     •  RRP2, LLC; 
  with no additional consideration.                                    •  RRP2, LLC’s three individual members; 
•  The transferor or transferee is an agency or authority of the       •  all officers and directors of ABC Partnership; and 
  United States of America, an agency or authority of New York         •  all officers, directors, and managers of RRP2, LLC.
  State, the Federal National Mortgage Association, the Federal 
  Home Loan Mortgage Corporation, the Government National              Partial commercial use – The documentation requirements 
  Mortgage Association, or a private mortgage insurance                apply when the applicable property is partially used for 
  company.                                                             commercial purposes.
To claim any of the above exemptions, nonresidents of New              Example: On September 13, 2019, MP, LLC, a multiple-member 
York State must complete Schedule D. See Who must complete             LLC, is the grantor in a deed transfer of a four-family house. 
Schedule D for more information.                                       Three of the units are used as residences, and one unit is used 
                                                                       for commercial purposes as a retail store. The documentation 
Schedule D does not need to be completed if the interest               requirements apply.
being transferred is anything other than a fee simple interest 
in real property or a cooperative unit, or if the property is being    Location and description of property conveyed 
transferred by anyone or any entity other than an individual,          Provide the location and description of the interest in 
estate, or trust. However, Schedules A, B, and C must still            real property being conveyed by entering the tax map 
be completed to satisfy the transfer tax and mortgage tax              designation, the Statewide Information System Code 
requirements.                                                          (SWIS Code), and address as they appear in your deed, 
                                                                       lease, or other instrument that conveys the interest in 
Instructions for Schedule A                                            real property. If you do not know your SWIS Code, go to 
                                                                       http://orpts.tax.ny.gov/cfapps/MuniPro/swis/index.cfm?  
Name and address box                                                   You may also obtain the SWIS Code from your tax bill or by 
Print or type the name, address, and Social Security number            contacting the assessor’s office where the property is located. 
(SSN) or employer identification number (EIN) of the grantor           Also include the name of the city or village, town, and county 
and grantee as they appear in your deed, lease, or other               where the property conveyed is located.
instrument that conveys the interest in real property. If additional 
space is needed, attach a schedule in the same format to               Type of property conveyed 
Form TP-584-NYC and include the name, address, and SSN or              Indicate the type of property being conveyed by marking an X in 
EIN of all the grantors and grantees. If the grantor or grantee        the appropriate box. If you are conveying a one- to three-family 
is a single member limited liability company (LLC), enter the          house, a residential cooperative apartment, or a residential 
name and taxpayer identification number (SSN or EIN or both)           condominium unit, you may be entitled to the continuing lien 
for both the LLC and the single member (also see Single and            deduction. See Continuing lien deduction for more information.
multi-member LLC). If the conveyance is pursuant to a mortgage 
foreclosure or any other action governed by the Real Property          Date of conveyance 
Actions and Proceedings Law, the defaulting mortgagor or 
debtor is the grantor.                                                 Enter the date the instrument effecting the conveyance was 
                                                                       delivered from the grantor to the grantee. The date of the 
Single and multi-member LLC                                            instrument is presumed to be the date of delivery of the 
                                                                       instrument.
If the grantor or grantee is an LLC and the property being 
conveyed is a building containing up to four family dwelling           If the conveyance was made pursuant to a binding written 
units, Form TP-584-NYC cannot be accepted for filing unless            contract executed on or before April 1, 2019, mark an X in 
accompanied by documentation that identifies all members,              the box below the Date of conveyance boxes and attach 
managers, and other authorized persons of the LLC. If any              independent evidence to Form TP-584-NYC.
member of the LLC is itself an LLC or other business entity, 
other than a publicly traded entity, a real estate investment          Percentage of real property conveyed which is residential 
trust (REIT), an umbrella partnership real estate investment           real property 
trust (UPREIT), or a mutual fund, a list of all shareholders,          Enter the percentage of the entire real property conveyed that is 
directors, officers, members, managers, and/or partners of that        residential real property (see Definition of terms for real estate 
LLC or other business entity must also be provided until ultimate      transfer tax).
ownership by natural persons is disclosed. See Definition of 
terms for the real estate transfer tax, for the meanings of natural    Condition of conveyance 
person and authorized person.                                          Mark an  Xin the boxes indicating the conditions that apply. If 
The required documentation must include the following                  items e, f, or  gare marked, Form TP-584.1, Real Estate Transfer 
information for each individual and entity:                            Tax Return Supplemental Schedules, must be attached to 
                                                                       Form TP-584-NYC with the appropriate schedule completed.
•  name; and
•  address of the business or individual.
Example: On September 16, 2019, RRP, LLC, a single-member 
LLC, is the grantor in a deed transfer of a two-family house to 

                                                                                                       TP-584-NYC-I (7/21)  Page 3 of 9
Instructions for Schedule B                                                   association, trust, or other entity, 50% or more of the capital, 
                                                                              profits or beneficial interest in such partnership, association, 
Imposition of tax                                                             trust, or other entity.
Unless claiming full exemption (Schedule B, Part 4), one or               5.  Real property means every estate or right, legal or 
more of the following taxes will be due on the conveyance of real             equitable, present or future, vested or contingent, in lands, 
property located in NYC.                                                      tenements, or hereditaments, including buildings, structures, 
•  A real estate transfer tax (base tax) (Schedule B, Part 1,                 and other improvements thereon, which are located in 
line 4) is imposed on each conveyance at the time the                         whole or in part within the state of New York. It does not 
instrument effecting the conveyance is delivered by a grantor                 include rights to sepulture.
to a grantee when the consideration or value of the interest              6.  Residential real property means premises that are, or may 
conveyed exceeds $500. The base tax is computed at a rate                     be, used in whole or in part as a personal residence at the 
of two dollars for each $500 of consideration or fractional part              time of conveyance. These can be: a one- to three-family 
thereof.                                                                      house; an individual residential condominium unit; or a 
•  A tax of one dollar and twenty-five cents ($1.25) for each                 residential cooperative apartment.
$500 of consideration or fractional part thereof is due when 
the consideration for the entire conveyance of residential real           7.  Consideration means the price actually paid, or required to 
property located in NYC is $3 million or more (Schedule B,                    be paid, for the real property or interest therein; including 
Part 1, line 5a).                                                             payment for an option or contract to purchase real property 
                                                                              whether or not expressed in the deed and whether paid, 
•  An additional base tax of one dollar and twenty-five                       or required to be paid, by money, property, or any other 
cents ($1.25) for each $500 of consideration or fractional                    thing of value. It includes the cancellation or discharge of 
part thereof is due when the consideration for the entire                     an indebtedness or obligation. It also includes the amount 
conveyance of other than residential real property located in                 of any mortgage, purchase money mortgage, lien, or other 
NYC is $2 million or more (Schedule B, Part 1, line 5b). For                  encumbrance, whether or not the underlying indebtedness 
more information, see Calculation of additional base tax.                     is assumed or taken subject to.
•  An additional tax (Schedule B, Part 2) is imposed on                       a)  In the case of a creation of a leasehold interest or the 
the conveyance of residential real property where the                         granting of an option with use and occupancy of real 
consideration for the entire conveyance is $1 million or more.                property; consideration includes, but is not limited to, 
For more information, see Imposition of additional tax.                       the value of the rental and other payments attributable 
•  A supplemental tax (Schedule B, Part 3) is imposed on the                  to the use and occupancy of the real property or interest 
conveyance of residential real property, or interest therein,                 therein, the value of any amount paid for an option to 
located in NYC, where the consideration for the entire                        purchase or renew, and the value of rental or other 
conveyance is $2 million or more. The tax rate is dependent                   payments attributable to the exercise of any option to 
upon the entire conveyance amount. See Calculation of                         renew.
supplemental tax for the applicable rate chart.                               b)  In the case of a creation of subleasehold interest; 
                                                                              consideration includes, but is not limited to, the value of 
Definition of terms for the real estate transfer tax                          the sublease rental payments attributable to the use and 
  1.  Person means an individual, partnership, society,                       occupancy of the real property, the value of any amount 
      association, joint stock company, corporation, estate,                  paid for an option to renew, and the value of rental or 
      receiver, trustee, assignee, referee, or any other person               other payments attributable to the exercise of any option 
      acting in a fiduciary or representative capacity, whether               to renew, less the value of the remaining prime lease 
      appointed by a court or otherwise, any combination of                   rental payments required to be made.
      individuals, and any other form of unincorporated enterprise            c)  In the case of a transfer or an acquisition of a 
      owned or conducted by two or more persons.                              controlling interest in any entity that owns real property; 
      Person includes any                                                     consideration means the fair market value of the real 
      •  individual, corporation, partnership or LLC or                       property or interest therein, apportioned based on the 
                                                                              percentage of the ownership interest transferred or 
      •  officer or employee of any corporation (including a                  acquired in the entity.
      dissolved corporation), or a member or employee of 
      any partnership, or a member, manager, or employee                      d)  In the case of an assignment or surrender of a leasehold 
      of an LLC, who has or is under a duty to act for such                   interest or the assignment or surrender of an option or 
      corporation, partnership, LLC or individual proprietorship              contract to purchase real property; consideration does 
      in complying with any requirement of the real estate                    not include the value of the remaining rental payments 
      transfer (Tax Law Article 31).                                          required to be made pursuant to the terms of such lease, 
                                                                              or the amount to be paid for the real property pursuant 
  2.  Natural person means a human being, as opposed to an                    to the terms of the option or contract being assigned or 
      artificial person, who is the beneficial owner of the real              surrendered.
      property. A natural person does not include: a corporation or 
      partnership, natural person or persons operating a business             e)  In the case of (1) the original conveyance of shares of 
      under a doing business as (DBA), an estate such as the                  stock in a cooperative housing corporation in connection 
      estate of a bankrupt or deceased person, or a trust.                    with the grant or transfer of a proprietary leasehold by 
                                                                              the cooperative corporation or cooperative plan sponsor 
  3.  Authorized person means a person, whether or not a                      and (2) the subsequent conveyance by the owner thereof 
      member, who is authorized by the operating agreement, or                of such stock in a cooperative housing corporation in 
      otherwise, to act on behalf of an LLC or foreign LLC.                   connection with the grant or transfer of a proprietary 
  4.  Controlling interest means (a) in the case of a corporation,            leasehold for a cooperative unit other than an individual 
      either 50% or more of the total combined voting power of                residential unit; consideration includes a proportionate 
      all classes of stock of such corporation, or 50% or more of             share of the unpaid principal of any mortgages on the 
      the capital, profits, or beneficial interest in such voting stock       real property of the cooperative housing corporation 
      of such corporation, and (b) in the case of a partnership,              comprising the cooperative dwelling or dwellings. This 
                                                                              amount is determined by multiplying the total unpaid 

Page 4 of 9   TP-584-NYC-I (7/21)
          principal of the mortgage by a fraction, the numerator of    consideration shall exclude the value of any lien or encumbrance 
          which is the number of shares of stock in the cooperative    remaining thereon at the time of the conveyance.
          housing corporation being conveyed in connection with 
          the grant or transfer of the proprietary leasehold, and the  In addition, Tax Law § 1405-B provides that in the case of 
          denominator of which is the total number of shares of        a resale of an individual residential cooperative unit, the 
          stock in the cooperative housing corporation.                consideration for the interest conveyed shall exclude the value 
                                                                       of any liens on certificates of stock or other evidences of an 
  8.   Conveyance means the transfer, or transfers, of any             ownership interest in, and a proprietary lease from, a corporation 
       interest in real property by any method; including but not      or partnership formed for the purpose of cooperative ownership 
       limited to sale, exchange, assignment, surrender, mortgage      of residential interest in real estate remaining thereon at the time 
       foreclosure, transfer in lieu of foreclosure, option, trust     of conveyance.
       indenture, taking by eminent domain, conveyance upon 
       liquidation or by a receiver, or transfer or acquisition of     Examples:
       a controlling interest in any entity with an interest in real   1)  A purchases a one-family residence from B for a total 
       property. Transfer of an interest in real property includes     consideration of $150,000 ($100,000 in cash and the 
       the creation of a leasehold or sublease only where (a) the      assumption of B’s existing mortgage of $50,000). Since the 
       sum of the term of the lease or sublease and any options        existing mortgage which is being assumed would constitute 
       for renewal exceeds 49 years, (b) substantial capital           a continuing lien, in determining the taxable consideration 
       improvements are or may be made by or for the benefit           for real estate transfer tax (line 3 of Form TP-584-NYC, 
       of the lessee or sublessee, and (c) the lease or sublease       Schedule B)  Acan deduct the amount of the mortgage 
       is for substantially all of the premises constituting the real  assumed ($150,000 – 50,000 = $100,000). Consequently, the 
       property. The conveyance of real property shall not include     tax is not computed on the gross consideration, but rather on 
       a conveyance pursuant to devise, bequest, or inheritance;       gross consideration less the continuing lien (that is, mortgage 
       the creation, modification, extension, spreading, severance,    assumed).
       consolidation, assignment, transfer, release or satisfaction    2) A commercial building is sold to  Afor $725,000, comprised 
       of a mortgage; a mortgage subordination agreement; a            of $400,000 in cash and the assumption by A of an existing 
       mortgage severance agreement; an instrument given to            $325,000 mortgage. Since the consideration for the 
       perfect or correct a recorded mortgage; or a release of lien    conveyance exceeds $500,000, the transfer tax must be 
       of tax pursuant to the Tax Law or the IRC.                      computed on $725,000, and the continuing lien deduction is 
  9.   Interest in the real property includes title in fee, a          not applicable.
       leasehold interest, a beneficial interest, an encumbrance, 
       development rights, air space and air rights, or any other      If a conveyance is pursuant to, or in lieu of, an action to 
       interest with the right to use or occupancy of real property;   foreclose a mortgage, lien, or other security interest; the amount 
       or the right to receive rents, profits, or other income derived of the continuing lien deduction does not include the amount 
       from real property. It also includes an option or contract to   of the debt secured by that mortgage, lien, or other security 
       purchase real property. It does not include a right of first    interest, which is the subject of the conveyance.
       refusal to purchase real property.
  10.  Grantor means the person making the conveyance of               Conveyance pursuant to a divorce or separation agreement
       real property or interest therein; or where the conveyance      A conveyance of an interest in real property from one spouse 
       consists of a transfer or an acquisition of a controlling       to the other pursuant to the terms of a divorce or separation 
       interest in an entity with an interest in real property, the    agreement may be subject to transfer tax. There is a rebuttable 
       entity with an interest in real property or a shareholder       presumption in such situation that the consideration for the 
       or partner transferring stock or partnership interest,          conveyance, which includes the relinquishment of marital 
       respectively.                                                   rights, is equal to the fair market value of the interest in the real 
                                                                       property conveyed.
 11.   Grantee means the person who obtains real property or any 
       interest therein as a result of a conveyance.                   Conveyance of a leasehold grant 
12.    Fair market value means the amount a willing buyer would        The consideration paid to the grantor for the grant of a taxable 
       pay a willing seller for the real property without deducting    lease is the present value of the right to receive the net rental 
       mortgages or other liens that the property may be taken         payments for the term of the lease.
       subject to as part of the sale or transfer.
                                                                       A discount rate equal to 110% of the federal long-term rate 
Real property situated partly within and partly outside the            compounded semiannually, that was in effect 30 days prior to the 
state                                                                  date of transfer, is required to be used in determining the present 
When real property conveyed is situated partly within and partly       value of the right to receive net rental payments for transfer tax 
outside New York State, the consideration subject to tax is the        purposes. If the taxpayer establishes (a) that a discount rate 
allocated portion of the total consideration attributable to the       greater than 110% of the federal long-term rate is appropriate in 
property situated within New York State.                               his or her particular circumstances, and (b) that using a discount 
                                                                       rate equal to 110% of the federal long-term rate results in a 
A statement signed by both the grantor and grantee must                computation of consideration that exceeds the fair market value 
be attached to Form TP-584-NYC setting forth the total                 of the real property subject to the lease or sublease, the Tax 
consideration for the conveyance and describing the method             Department will allow the use of a discount rate that results in 
used to apportion the consideration to the real property situated      a computation of consideration that is equal to the fair market 
within New York State.                                                 value of such real property.
Continuing lien deduction                                              For a lease created for a term of less than 49 years that contains 
                                                                       an option to purchase the real property, net rental payments for 
Tax Law § 1402 provides that in the case of (1) a conveyance           periods that occur after an option is no longer exercisable are 
of a one- to three-family house and an individual residential          not included in the calculation of consideration.
condominium unit, or an interest therein; or (2) conveyances 
where the consideration is less than $500,000, the taxable 

                                                                                                     TP-584-NYC-I (7/21)  Page 5 of 9
Transfer or acquisition of a controlling interest                     Conveyance for which credit for tax previously paid will be 
A transfer of a controlling interest is deemed to have occurred       claimed
when a grantor transfers a controlling interest to one or more          1.  A grantor will be allowed a credit against the tax due on the 
grantees within a three-year period.                                        conveyance of real property, to the extent the tax was paid 
                                                                            by the grantor on a prior leasehold grant of all or a portion 
An acquisition of a controlling interest is deemed to have                  of the same real property or on the granting of an option 
occurred when a grantee acquires a controlling interest from one            or contract to purchase all or a portion of the same real 
or more grantors within a three-year period.                                property, by the grantor.
Example: A acquires a 10% interest in Partnership XYZ, which              Form TP-584.1, Schedule G, Part 1, must be completed 
owns New York real property, from  Xin December 2009.                       and attached to Form TP-584-NYC to support any credit 
In March 2011,  Aacquires an additional 25% interest in                     claimed.
Partnership XYZ from X. In January, 2012,  Aacquires from     Y a       2.  A credit will be allowed upon the original conveyance 
25% interest in Partnership XYZ. Since  Aacquired a total of 50%            of shares of stock in a cooperative housing corporation 
or more of the partnership interest in Partnership XYZ within a             in connection with the grant or transfer of a proprietary 
three-year period,  Ais deemed to have acquired a controlling               leasehold by the cooperative corporation or cooperative 
interest. Therefore, a conveyance of real property byX and  Yhas            plan sponsor, provided the first conveyance of shares of 
occurred and X and Y will be liable for the payment of real estate          stock takes place within 24 months from the conveyance 
transfer tax on their respective transfers of 35% and 25% interests.        of the real property to the cooperative housing corporation. 
                                                                            The credit is limited to the proportionate part of the tax paid 
Conveyance pursuant to a mortgage foreclosure                               when the real property was conveyed to the cooperative 
A conveyance pursuant to a mortgage foreclosure or any other                housing corporation, to the extent the conveyance would 
action governed by the provisions of the Real Property Actions              have otherwise effectuated a mere change of identity, or 
and Proceedings Law, such as the enforcement of a mechanic’s                form of ownership, of the property and not a change in the 
lien pursuant to the Lien Law Article 3, is subject to tax.                 beneficial ownership.
Form TP-584.1, Schedule E, Part 1, must be completed and              Form TP-584.1, Schedule G, Part 2, must be completed and 
attached to Form TP-584-NYC in the case of such conveyances.          attached to Form TP-584-NYC to support any credit claimed.

Conveyance to a mortgagee or lienor in lieu of foreclosure            Who must pay the real estate transfer tax 
A conveyance by a defaulting mortgagor or debtor to the               The base tax and additional base tax are paid by the grantor 
mortgagee or lienor, or its agent, nominee or any entity owned        (seller) and such tax shall not be payable, directly or indirectly, 
in whole by that mortgagee or lienor, in lieu of an action to         by the grantee except as provided in a contract between grantor 
foreclosure a mortgage or lien, in exchange for cancellation of       and grantee. However, if the grantor fails to pay the transfer tax 
the debt secured by the mortgage or lien, is subject to tax.          at the time required, or if the grantor is exempt from the tax, the 
Form TP-584.1, Schedule E, Part 2, must be completed and              grantee (buyer) shall have the duty to pay the tax.
attached to Form TP-584-NYC in the case of such conveyances.          In the case of the conveyance of residential real property, if the 
                                                                      transfer tax is paid by the buyer pursuant to a contract between 
Conveyance in lieu of or pursuant to a secured party’s                the buyer and seller, the amount of tax shall be excluded from 
enforcement of a lien                                                 the calculation subject to tax.
A conveyance in lieu of, or pursuant to, a secured party’s 
enforcement of a lien, security interest, or other rights on or       Where the grantee has the duty to pay the transfer tax because 
in shares of stock in a cooperative housing corporation or            the grantor has failed to pay, the tax becomes the joint and 
associated proprietary leases or both, upon default by a debtor,      several liability of the grantor and the grantee; provided that 
is subject to tax.                                                    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 
Form TP-584.1, Schedule E, Part 3, must be completed and              the grantee.
attached to Form TP-584-NYC in the case of such conveyances.
                                                                      The additional tax and supplemental tax are paid by the 
A conveyance in lieu of, or pursuant to, a secured party’s            grantee, at the same time and in the same manner as the real 
enforcement of a lien, security interest, or other rights on or       estate transfer tax. However, if the grantee fails to pay the tax 
in shares of stock, partnership interests, or other instruments,      at the time required, or if the grantee is exempt from the tax, the 
upon default by a debtor (that is, the transfer or acquisition of a   grantor shall have the duty to pay the tax.
controlling interest in an entity with an interest in real property), 
is subject to tax.                                                    In the case where the grantor has the duty to pay the tax 
                                                                      because the grantee has failed to pay, the tax becomes the joint 
Form TP-584.1, Schedule E, Part 4, must be completed and              and several liability of the grantor and the grantee.
attached to Form TP-584-NYC in the case of such conveyances.
                                                                      Calculation of additional base tax
Conveyance which consists of a mere change of identity or             The additional base tax of one dollar and twenty-five cents 
form of ownership or organization                                     ($1.25) for each $500 of consideration, or fractional part thereof, 
Tax Law § 1405(b)(6) provides an exemption from the real estate       is imposed on the conveyance of real property located in NYC 
transfer tax to the extent a conveyance consists of a mere            when the consideration for the entire conveyance of residential 
change of identity, or form of ownership or organization, where       real property in whole, or in part, is $3 million or more; and when 
there is no change in beneficial interest.                            the consideration for the entire conveyance of real property, 
                                                                      other than residential real property, is $2 million or more. 
Form TP-584.1, Schedule F, must be completed and attached to          Complete and attach Form TP-584.6-NYC, Real Estate Transfer 
Form TP-584-NYC in the case of such conveyances.                      Tax Return Schedule of Apportionment, when multiple properties 
                                                                      are conveyed.

Page 6 of 9 TP-584-NYC-I (7/21)
Examples:                                                          Commercial Property 1 is $1.5 million, and the consideration 
                                                                   paid for Commercial Property 2 is $2.5 million. Since the 
1) A conveys to  Ba two-family house located in NYC for a          consideration paid for Commercial Property 2 is $2 million or 
   consideration of $4 million. Since the two-family house is      more, the additional base tax is imposed on the conveyance 
   residential real property located in NYC, the additional base   of that property. However, the additional base tax does 
   tax is imposed at a rate of one dollar and twenty-five cents    not apply to the house (consideration below $3 million) or 
   ($1.25) for each $500 of consideration.                         Commercial Property 1 (consideration below $2 million).
   ($4,000,000 / $500) x $1.25 = $10,000.
2)  A two-unit building located in NYC is conveyed for             Imposition of additional tax 
   consideration of $2.5 million. One unit is used for residential An additional tax is imposed on each conveyance of residential 
   purposes and the other unit is used as a retail store. No       real property, or interest therein, where the consideration for the 
   additional base tax is due since the property is used in        entire conveyance is $1 million or more. The rate of tax is one 
   whole or in part as residential real property and the entire    percent of the consideration, or part thereof, attributable to the 
   consideration is less than $3 million.                          residential real property.
3) A conveys to  Xthree single-family residences for an entire     When multiple real properties are conveyed, leave Schedule B, 
   consideration of $9.5 million. The three houses are not used    Part 2, lines 1 and 2 blank. Use Form TP-584.6-NYC to calculate 
   in conjunction with one another. Houses 1 and 2 are in NYC,     the additional tax and enter the result in Schedule B, Part 2, 
   house 3 is in Westchester County. The consideration paid for    line 3. 
   house 1 is $2.5 million. The consideration paid for house 2 is 
   $3 million. The consideration paid for house 3 is $4 million.   Examples:
   Since the consideration for house 2 is $3 million or more and   1)  A conveys to B a three-family house for a   
   the real property is in NYC, the additional base tax is imposed consideration of $1 million. Since the three-family house 
   on the conveyance of that unit. The additional base tax does    constitutes residential real property, the additional tax at a 
   not apply to house 1 or 3, since the consideration is below     rate of one percent is imposed on the conveyance.
   $3 million for house 1 and house 3 is not located in NYC.
                                                                   2)  One unit of a two-family house is used for residential 
4) A conveys to  Btwo commercial properties located in NYC.        purposes, and the other unit is used for commercial purposes 
   The consideration paid for Property 1 is $2 million and the     as a retail store. The owner sells the house for $1.5 million. 
   consideration paid for Property 2 is $1.5 million. Since the    The residential unit is valued at $500,000 while the retail 
   consideration paid for Property 1 is $2 million or more,        unit is valued at $1 million. In determining whether the 
   the additional tax is imposed on the conveyance of that         consideration for the conveyance is $1 million or more, 
   property. However, the additional base tax does not apply to    the consideration for the entire conveyance must be taken 
   Property 2.                                                     into account. In this case, the consideration for the entire 
5) X Corporation conveys to  YCorporation three commercial         conveyance ($1.5 million) exceeds $1 million. Therefore, the 
   properties located in NYC under one contract with a             conveyance is subject to the additional tax but only on the 
   consideration of $6.5 million. In determining the additional    value of the residential unit ($500,000).
   base tax due, the fair market value of each of the three        3)  A sponsor of a condominium plan conveys to X Corporation 
   properties would need to be determined. The additional base     three residential condominium units. The three units are not 
   tax is imposed on each property with a fair market value of     used in conjunction with one another. The consideration 
   $2 million or more.                                             paid for Unit 1 is $750,000. The consideration paid for Unit 2 
6) A conveys to  Ba two-family house (residential real property)   is $900,000, and the consideration paid for Unit 3 is $1.25 
   and two commercial properties (other than residential real      million. Since the consideration paid for Unit 3 is $1 million or 
   property) located in NYC. The consideration paid for the        more, the additional tax is imposed on the conveyance of that 
   two-family house is $2 million. The consideration paid for      unit. However, the additional tax does not apply to Units 1 or 2.

                                                       Supplemental tax rates
                        Entire conveyance amount                             Supplemental tax rate
             At least $2,000,000 but less than $3,000,000          One-quarter of one percent (.25%) (.0025)

             At least $3,000,000 but less than $5,000,000          One-half of one percent (.5%) (.005)

             At least $5,000,000 but less than $10,000,000         One and one-quarter percent (1.25%) (.0125)

             At least $10,000,000 but less than $15,000,000        Two and one-quarter percent (2.25%) (.0225)

             At least $15,000,000 but less than $20,000,000        Two and one-half percent (2.5%) (.025)

             At least $20,000,000 but less than $25,000,000        Two and three-quarters percent (2.75%) (.0275)

             At least $25,000,000                                  Two and nine-tenths percent (2.9%) (.029)

Calculation of supplemental tax                                    The tax rate is dependent upon the entire conveyance amount. 
A supplemental tax is imposed on each conveyance of                The tax rate is multiplied by the consideration, or part thereof, 
residential real property, or interest therein, where the          attributable to the residential real property. Complete and attach 
consideration for the entire conveyance is $2 million or more.     Form TP-584.6-NYC, when multiple properties are conveyed. 

                                                                                                     TP-584-NYC-I (7/21)  Page 7 of 9
When multiple real properties are conveyed, leave Schedule B,        Line 2 – Enter continuing lien deduction if applicable (see 
Part 3, lines 1 and 2 blank. Use Form TP-584.6-NYC to calculate      Continuing lien deduction).
the supplemental tax and enter the result in Schedule B, Part 3, 
line 3.                                                              Line 7 – Enter the amount of tax credit claimed. Complete 
                                                                     and attach Form TP-584.1, Schedule G, along with 
Examples:                                                            Form TP-584-NYC (previously filed) and proof of payment to 
1) A conveys to  Ba two-family house for consideration of $5         support the credit claimed.
   million. Since the two-family house is residential real property, 
   the supplemental tax at a rate of one and one-quarter of one      Part  4
   percent (1.25%) is due.                                           Mark an  Xin the appropriate box or boxes if you are claiming a 
2)  One unit of a two-family house is used for residential           total exemption from the transfer tax.
   purposes. The other unit is used as a retail store. The 
   owner sells the house for a consideration of $3.5 million.        Instructions for Schedule C 
   The residential unit is valued at $1.5 million while the 
   commercial unit is valued at $2 million. In determining           Who must complete Schedule C
   whether the supplemental tax is due, the consideration for        The Credit Line Mortgage Certificate must be completed and 
   the entire conveyance must be used. The consideration for         filed for all transfers of a fee simple interest in real property. 
   the entire conveyance is $3 million or more. Therefore, the       Mark an X in the appropriate box in Schedule C if this schedule 
   consideration allocated to the residential portion is subject     is required.
   to the supplemental tax at a rate of one-half of one percent 
   ($1.5 million x .5% = $7,500).
                                                                     Signatures required for Schedules A, B, 
3) X conveys to  YCorporation three residential condominium 
   units. The three units are not used in conjunction with           and C
   one another. Consideration paid for unit 1 is $1.5 million.       Both the grantors and the grantees must sign the signature 
   Consideration paid for unit 2 is $2 million. Consideration        areas on page 3. If there is not adequate space for all persons 
   paid for unit 3 is $3 million. The supplemental tax is due on     to sign, a separate signature sheet may be used and attached 
   each unit transferred for $2 million or more. Unit 2 is at least  to Form TP-584-NYC. A separate signature area is provided on 
   $2 million but less than $3 million. Therefore, it is subject     page 4 for the information contained in Schedule D.
   to supplemental tax at a rate of one-quarter of one percent 
   (.25%). Unit 3 is at least $3 million but less than $5 million.   Instructions for Schedule D
   Unit 3 is subject to supplemental tax at a rate of one-half of    Note: A separate signature area is provided for Schedules A, B, 
   one percent (.5%). Complete and attach Form TP-584.6-NYC          and C on page 3. The signature area on page 3 does not apply 
   to Form TP-584-NYC.                                               for purposes of Schedule D.

Penalties                                                            Who must complete Schedule D
Any grantor or grantee failing to file a return or to pay any tax    This schedule is to be executed upon the sale or transfer of a 
within the time required shall be subject to a penalty of 10% of     fee simple interest in real property or a cooperative unit located 
the amount of tax due, plus an interest penalty of 2% of such        in New York State by an individual, estate, or trust claiming 
amount for each month of delay, or fraction thereof, following the   exemption from the estimated personal income tax provisions 
expiration of the first month after such return was required to be   under Tax Law § 663.
filed or the tax became due. However, the interest penalty shall 
not exceed 25% in the aggregate.                                     New York State residents – If you are a resident of New York 
                                                                     State at the time of the sale or transfer, you must complete 
If the Commissioner of Taxation and Finance determines that          Part 1 (see Specific instructions for Schedule D).
such failure or delay was due to reasonable cause and not due 
to willful neglect, the commissioner shall remit, abate, or waive    New York State nonresidents – If you are a nonresident 
all of the penalty and the interest penalty.                         of New York State at the time of sale or transfer, you must 
                                                                     complete Part 2 (see Specific instructions for Schedule D).
Interest 
Daily compounded interest will be charged on the amount of the       Multiple transferors/sellers
tax due not paid within the time required.                           Each grantor/transferor listed in Schedule A (or an attachment 
If it is determined that the tax has been overpaid and               to Form TP-584-NYC) who does not meet the requirements to 
Form TP-592.2, Real Estate Transfer Tax Claim for Refund, or         claim exemption from the payment of estimated personal income 
Form TP-592.2-NYC,Real Estate Transfer Tax      Claim for Refund     tax as stated in Part 1 or Part 2 must either:
on Conveyances of Real Property Located in New York City, is         •  for sale or transfer of real property, present Form IT-2663 
submitted within two years from the date of payment, interest        and pay the full amount of estimated personal income tax due, 
shall be allowed and paid on the refund at the rate set pursuant     if any, to the recording officer at the time the deed is presented 
to Tax Law § 1416.                                                   for recording; or
                                                                     •  for sale or transfer of a cooperative unit, file Form IT-2664 
Line instructions for Schedule B                                     and pay the full amount of estimated personal income tax 
                                                                     due, if any, to the NYS Tax Department within 15 days of the 
Part 1                                                               delivery of the instrument effecting the sale or transfer of the 
Line 1 – Enter the amount of consideration. If in                    cooperative unit.
Schedule A, items e, f, or  gwere marked, complete the               Real property situated partly within and partly outside 
applicable Schedule E, F, or G of Form TP-584.1, that must           New York State – When the real property being sold or 
be attached to Form TP-584-NYC. If you are claiming a total          transferred is situated partly within and partly outside of 
exemption from tax, mark an X in the Exemption claimed box.          New York State, only the property situated inside New York State 
Do not complete lines 2 through 8. Instead, go to Part 4 on          is subject to the requirements of Tax Law § 663.
page 2.

Page 8 of 9 TP-584-NYC-I (7/21)
Definition of terms for Schedule D                                    Resident individual
Transferor/seller means the individual, estate, or trust listed       For purposes of estimated personal income tax under Tax Law 
as a grantor/transferor in Schedule A (or an attachment to            § 663, you are a New York State resident if at the time of the 
Form TP-584-NYC) making:                                              sale or transfer of real property or cooperative unit:
•  the sale or transfer of a fee simple interest in real property, or a)  Your domicile is New York State; or
•  the sale, conveyance, or other disposition of shares of stock      b)  You maintain a permanent place of abode in New York State 
  in a cooperative housing corporation in connection with the         for substantially all of the tax year and spend 184 days or 
  grant or transfer of a proprietary leasehold by the owner of        more in New York State during the tax year*; whether or not 
  the shares, where the cooperative unit represented by such          you were domiciled in New York State (unless you were in 
  shares is located in New York State.                                active service in the military).
Sale or transfer of real property means the change of ownership       *Any part of a day is a day for this purpose.
of a fee simple interest in real property by any method.
                                                                      Nonresident individual
Sale or transfer of a cooperative unit means the sale,                For purposes of estimated personal income tax under Tax Law 
conveyance or other disposition of shares of stock in a               § 663, you are a New York State nonresident if at the time of the 
cooperative housing corporation in connection with the grant or       sale or transfer of real property or cooperative unit you were not 
transfer of a proprietary leasehold.                                  a resident.
Cooperative housing corporation means a corporation that              For more information on residency, visit our website (see Need 
has only one class of stock that entitles the shareholder to          help?).
live in a house or an apartment (cooperative unit) in a building 
or on property owned or leased by the corporation. Housing            Resident estate and trust
cooperatives can be, but are not limited to single-family 
homes, duplexes, townhouses, apartments, dormitories, land            For purposes of estimated personal income tax under Tax Law 
subdivisions with sites and utilities, mobile home parks, and         § 663, if a decedent was domiciled in New York State at the 
marinas.                                                              time of his or her death, his or her estate is a resident estate 
                                                                      and any trust created by his or her will is a resident trust. If an 
Cooperative unit means the physical space represented                 irrevocable trust consists of property of a person domiciled 
by shares of stock in a cooperative housing corporation in            in New York State when such property was transferred to the 
connection with a proprietary leasehold.                              irrevocable trust, it is a resident trust. The term resident trust 
                                                                      also includes (1) any revocable trust consisting of property 
Proprietary leasehold means an agreement between a                    of a person domiciled in New York State at the time such 
cooperative tenant-stockholder and the cooperative housing            property was transferred to the trust if it has not later become 
corporation that defines the rights and obligations of each party     irrevocable and (2) any revocable trust that has later become 
regarding use and occupancy of the cooperative unit.                  irrevocable if the trust consists of property of a person domiciled 
Principal residence means your main home within the meaning           in New York State when it became irrevocable. The residence of 
of IRC section 121 and for which you can exclude the gain for         the fiduciary does not affect the status of an estate or trust as a 
federal income tax purposes. Usually the home you live in most        resident or nonresident.
of the time is your main home and can be, but is not limited to: a 
house, houseboat, mobile home, condominium, or cooperative            Nonresident estate or trust 
apartment.                                                            For purposes of estimated personal income tax under Tax Law 
                                                                      § 663, a nonresident estate or trust means an estate or trust that 
New York State resident and nonresident defined                       is not a resident estate or trust at the time of the sale or transfer 
You may have to pay personal income tax as a New York State           of real property or cooperative unit.
resident even if you are not considered a resident for other 
purposes. For personal income tax purposes, your resident             Specific instructions for Schedule D
status depends on where you are domiciled and where you 
maintain a permanent place of abode.                                  Part  1– New York State residents
In general, your domicile is the place you intend to have as your     New York State resident transferors/sellers listed in Schedule A 
permanent home. Your domicile is, in effect, the state where          (or in an attachment to Form TP-584-NYC), must sign Part 1 to 
your permanent home is located. It is the place you intend to         certify that the transferor/seller is a resident of New York State 
return to whenever you may be away (as on vacation abroad,            (as defined above) at the time of sale or transfer of the real 
business assignment, education leave, or military assignment).        property or cooperative unit. If one or more transferors/sellers 
                                                                      listed in Schedule A is a New York State resident, each 
You can have only one domicile. Your domicile is not changed          resident transferor/seller must sign Part 1. If more signature 
until you can demonstrate that you have abandoned your                space is needed, please photocopy Schedule D and submit 
previous domicile and established a new permanent domicile.           as many schedules as necessary to accommodate all resident 
                                                                      transferors/sellers.
If you move to a new location but intend to stay there only for a 
limited amount of time (no matter how long), your domicile does       If the property is being conveyed by a referee pursuant to a 
not change.                                                           foreclosure proceeding, do not complete Part 1, but proceed 
                                                                      to Part 2, and mark an   in the second box indicating that 
A permanent place of abode is a residence (a building or                                  X
                                                                      the transferor/seller is a mortgagor conveying the mortgaged 
structure where a person can live) you permanently maintain,          property to a mortgagee in foreclosure, or in lieu of foreclosure 
whether you own it or not, and usually includes a residence your      with no additional consideration. The referee should then sign at 
spouse owns or leases.                                                the bottom. 
                                                                      Note: A resident of New York State is not required to pay estimated 
                                                                      personal income tax under Tax Law § 663. However, a resident 
                                                                      may still be required to pay estimated personal income tax under 

                                                                                                TP-584-NYC-I (7/21)  Page 9 of 9
Tax Law § 685(c), but not as a condition of recording a deed for 
the sale or transfer of real property.                              Need help?

Part  2– Nonresidents of New York State                             Visit our website atwww.tax.ny.gov
New York State nonresident transferors/sellers listed in            •  get information and manage your taxes online
Schedule A (or an attachment to Form TP-584-NYC) must sign 
Part 2 to certify that the transferor/seller is a nonresident of    •  check for new online services and features
New York State at the time of the sale or transfer, and to claim 
exemption from payment of estimated personal income tax as          Telephone assistance
provided for under Tax Law § 663. Mark an X in the box of the       Mortgage and Transfer Tax Information Center: 518-457-8637
exemption which applies to this sale or transfer of real property 
or cooperative unit. If any one exemption applies to a transferor/  To order forms and publications:              518-457-5431
seller, that transferor/seller is not required to pay estimated     Text Telephone (TTY) or TDD                   Dial 7-1-1 for the  
personal income tax to New York State under Tax Law § 663.            equipment users                New York Relay Service
If more signature space is needed, photocopy Schedule D and 
submit as many schedules as necessary to accommodate all 
nonresident transferor/sellers.
Note: If there are one or more transferors/sellers listed in 
Schedule A (or an attachment to Form TP-584-NYC), each 
transferor/seller who is claiming exemption from the payment 
of estimated personal income tax under Tax Law § 663 must 
sign Part 2. Each nonresident transferor/seller who does not 
meet one of the exemptions as listed in Part 2 must complete a 
separate Form IT-2663 or Form IT-2664. For more information, 
see Multiple transferors/sellers.

Nonresident exemption for principal residence 
If the real property or cooperative unit being sold or transferred 
qualifies in total as the principal residence of a nonresident 
transferor/seller listed in Schedule A (or an attachment to Form 
TP-584-NYC), only the transferor/seller who can claim this real 
property or cooperative unit as a principal residence (within the 
meaning of IRC section 121) at the time of the sale or transfer 
can sign and certify the exemption from the estimated personal 
income tax provision under Tax Law § 663(c)(1).
Note: Real property or a cooperative unit that qualifies in total 
as the principal residence of the transferor/seller qualifies for 
the exemption even if part of the gain is not excluded under 
IRC section 121 because the gain exceeds the amount of the 
exclusion provided for in that section.
Transferors/sellers listed in Schedule A (or an attachment to 
Form TP-584-NYC) who cannot claim this real property or 
cooperative unit as their principal residence at the time of sale 
or transfer should not sign Part 2. The transferors/sellers must 
instead complete a separate Form IT-2663 or Form IT-2664. For 
more information, see Payment of estimated personal income 
tax.

Property used in part as a principal residence
If a portion of the real property or cooperative unit being sold or 
transferred qualifies as the principal residence of a nonresident 
transferor/seller listed in Schedule A (or an attachment to 
Form TP-584-NYC) and a portion of the real property or 
cooperative unit does not qualify, do not sign Part 2. Instead, 
each nonresident transferor/seller listed in Schedule A (or an 
attachment to Form TP-584-NYC) must complete a separate 
Form IT-2663 or Form IT-2664.
Privacy notification
New York State Law requires all government agencies that 
maintain a system of records to provide notification of the legal 
authority for any request for personal information, the principal 
purpose(s) for which the information is to be collected, and 
where it will be maintained. To view this information, visit our 
website, or, if you do not have Internet access, call and request 
Publication 54, Privacy Notification. See Need help? for the Web 
address and telephone number.