Have you amended your pleadings to bring a cause a action for an alleged violation of the Rule 11 Agreement? How do you respond to the case law that holds that amending your pleadings is required prior to filing a motion to enforce the Rule 11 Agreement?
Typically, transfer taxes are payable by the seller. However, if the seller does not pay or is exempt from the tax, the buyer often becomes liable. New York State. The New York State Real Estate Transfer Tax (RETT) is imposed on real property conveyances at a rate of $2 per $500 of consideration. For certain qualified transfers to Real Estate Investment Trusts (REITs) the tax is reduced to $1 per $500 of consideration.
Posted December 2, 2014 6:46pm. Technically, the seller is supposed to pay the tax. However, if the seller does not pay the tax, then the buyer must pay the tax. The Tax Department has a summary explanation here: http://www.tax.ny.gov/bus/transfer/rptidx.htm.