Free Rp 5217Nyc Form

The RP-5217NYC form is essential for documenting real property transfers in New York City. It shares similarities with several other documents used in real estate transactions. Here are eight documents that are comparable to the RP-5217NYC form:

• Deed: This legal document transfers ownership of real property from one party to another. Like the RP-5217NYC, it must be filed with the City Register or Richmond County Clerk.
• Property Transfer Tax Return: This form is used to report the transfer of real estate for tax purposes. It includes details about the property and the transaction, similar to the information required on the RP-5217NYC.
• Notice of Sale: This document informs interested parties of a pending sale of property. It serves a similar purpose to the RP-5217NYC by providing essential transaction details.
• Title Report: A title report examines the history of ownership and any claims against the property. It complements the RP-5217NYC by ensuring that the transfer is valid and free from disputes.
• Mortgage Agreement: This document outlines the terms of a loan secured by real property. It is related to the RP-5217NYC as both involve the transfer and financing of real estate.
• Closing Statement: Also known as a settlement statement, this document summarizes the financial aspects of the property transaction. It parallels the RP-5217NYC in detailing the sale’s financial terms.
• Affidavit of Title: This sworn statement confirms the seller's ownership and the absence of liens or encumbrances. It is similar to the RP-5217NYC in ensuring the accuracy of property information during the transfer.
• Real Estate Purchase Agreement: This contract outlines the terms of the sale between the buyer and seller. It shares similarities with the RP-5217NYC by documenting the essential details of the property transfer.

Filling out the RP-5217NYC form can be a straightforward process, but many people make common mistakes that can lead to delays or complications. One frequent error is failing to provide complete property information. It’s essential to include the full physical address, including the street name, borough, and zip code. Omitting any part of this information can create confusion and may result in the form being rejected.

Another mistake often made involves the buyer and seller names. It’s important to list the last name or company name first, followed by the first name. If there are multiple buyers or sellers, attaching an additional sheet with their names is necessary. Forgetting to do this can lead to incomplete documentation and potential issues down the line.

People sometimes overlook the tax billing address as well. If future tax bills are to be sent to a different address than the buyer’s, it must be clearly indicated on the form. Neglecting to specify this can result in tax bills being sent to the wrong location, which can create headaches for all parties involved.

Additionally, many individuals fail to accurately count the number of parcels being transferred. The number entered in the form should match the “Borough-Block-Lot/Roll Identifiers” provided later in the document. If the number of parcels does not align, it could raise questions during processing.

Another common error is related to the property size. When completing this section, it’s crucial to enter only front feet and depth, or acres, but not both. This can lead to confusion regarding the size of the property being transferred, which may cause issues with the transaction.

Furthermore, individuals often forget to check the appropriate boxes for ownership type and property use. If the property is a condominium or new construction, these boxes must be checked. Failing to do so may lead to misunderstandings about the nature of the property being transferred.

People also tend to skip over the sale information section. It’s vital to provide the sale contract date and check any applicable conditions regarding the transfer. This information helps clarify the nature of the transaction and can prevent complications during the filing process.

Lastly, not reviewing the entire form before submission can lead to minor errors that could have been easily corrected. Taking a moment to double-check all entries ensures that the form is complete and accurate, which can save time and effort in the long run.

1. What is the RP-5217NYC form?

   The RP-5217NYC form, also known as the Real Property Transfer Report, is a document required for all real property transfers within New York City. This form is essential for recording the details of the transfer, including the property location, buyer and seller information, and the type of property being transferred. It became mandatory as of January 1, 2003, and must accompany all deeds and correction deeds filed with the City Register or Richmond County Clerk.

2. What are the fees associated with filing the RP-5217NYC form?

   When submitting the RP-5217NYC form, there is a filing fee that varies depending on the type of property. For qualifying residential properties—primarily 1-, 2-, and 3-family homes and residential condominiums—the fee is $125. For all other properties, the fee increases to $250. However, it is important to note that state and county agencies, as well as their officers, are exempt from this fee under Section 8017 of the Civil Practice Law and Rules.

3. What information is required on the RP-5217NYC form?

   The RP-5217NYC form requires a variety of information to ensure accurate processing. Key sections include:

   • Property Information: This includes the physical location of the property, the names of the buyer(s) and seller(s), and the tax billing address if different from the buyer's address.
   • Number of Parcels: You must indicate how many assessment roll parcels are being transferred.
   • Property Use: You need to check a box that best describes the property's use at the time of sale, such as residential, commercial, or vacant land.

   Completing the form accurately is crucial, as any errors could lead to delays or complications in the transfer process.

4. Where can I get assistance if I have questions about the RP-5217NYC form?

   If you have questions regarding the RP-5217NYC form, you can contact the New York State Office of Real Property Services, Data Management Unit, at (518) 473-7222. For procedural inquiries about filing the form, it is recommended to reach out to New York City’s ACRIS Help Desk for guidance. They can provide specific assistance related to the filing process and any technical issues you may encounter.

Misconceptions about the RP-5217NYC form can lead to confusion and errors in property transactions. Here are ten common misunderstandings:

1. All property transfers require the RP-5217NYC form. While most transfers do, there are specific exemptions. For example, certain government entities may not need to file this form.
2. The RP-5217NYC form is only for residential properties. This is incorrect. The form is used for all real property transfers, including commercial and industrial properties.
3. Only the buyer needs to fill out the form. This is a misconception. Both the buyer and seller need to provide information, ensuring the accuracy of the transaction details.
4. Filing fees apply to all property transfers. Not true. Government entities are exempt from the filing fees associated with this form.
5. The form must be submitted in person. This is misleading. The RP-5217NYC form can often be submitted electronically, depending on local regulations.
6. Only one copy of the form is needed. In reality, multiple copies may be required for different parties involved in the transaction.
7. Incorrect information can be easily corrected later. This is risky. Providing accurate information upfront is crucial, as errors can complicate the transfer process.
8. The RP-5217NYC form is optional for private sales. This is false. Even private sales must include this form to document the transfer properly.
9. All sections of the form must be completed for every transfer. Some sections may not apply to certain transactions. It’s important to only fill out relevant sections.
10. The form is the same for all New York State properties. This is incorrect. The RP-5217NYC form is specific to New York City and has different requirements than forms used in other parts of the state.

Understanding these misconceptions can help ensure that property transactions proceed smoothly and legally. Accurate and complete information is essential for all parties involved.

The RP-5217NYC Real Property Transfer Report is essential for documenting property transfers in New York City. Here are key takeaways to keep in mind when filling out and using this form:

• Required Submission: An original RP-5217 form must accompany all deeds and correction deeds when filing with the City Register or Richmond County Clerk.
• Filing Fees: As of June 1, 2009, a fee of $125 applies to qualifying residential properties, while a fee of $250 is required for all other property types.
• Exemptions: State and county agencies, along with their officers, are exempt from filing fees under Section 8017 of the Civil Practice Law and Rules.
• Accuracy is Key: Ensure that all transfer information is complete and accurate. Use clear typing or printing to avoid any confusion.
• City Use Section: Sections C1 to C5 are reserved for city personnel and should not be filled out by the buyer or seller.
• Property Location: Provide the actual physical address of the property being transferred, including street name, borough, and zip code.
• Buyer and Seller Names: Enter the names of the buyer(s) and seller(s) in the specified format, starting with the last name or company name.
• Tax Billing Address: If future tax bills should go to a different address than the buyer's, indicate that address in the form.
• Parcel Count: Accurately state the number of assessment roll parcels being transferred. This number should align with the identifiers listed elsewhere in the form.
• Property Use Classification: Select the box that best describes the property's use at the time of sale. This classification helps in understanding the property's intended use.

For any questions about the form, contact the NYS Office of Real Property Services. If you need help with the filing process, reach out to New York City’s ACRIS Help Desk. Being thorough and precise will streamline the transfer process and help avoid delays.