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.
The party transferring or conveying title to the property (the seller) is generally responsible for the payment of the tax. There are some jurisdictions that dictate who pays the tax but for the most part, there is no mandate and itâs up to the buyer and seller to negotiate who makes the payment. In Florida, the seller traditionally pays the transfer tax or documentary stamp. Depending on local market conditions, transfer taxes can become a negotiating point during closing.