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| Next revision | Previous revision |
| new_jersey_notes [2023/06/02 14:26] – created raju | new_jersey_notes [2024/01/27 10:37] (current) – raju |
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| | ==== government websites ==== |
| | * https://www.511nj.org/home - NJDOT's traffic information website. For real-time travel information. |
| | * https://njhousing.gov/ - New Jersey housing and mortgage financing agency |
| | * https://covid19.nj.gov/ - NJ corona virus information hub |
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| | ==== maps ==== |
| | * new jersey county map - http://www.digital-topo-maps.com/county-map/new-jersey.shtml |
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| ==== mansion tax ==== | ==== mansion tax ==== |
| * Buyer has to pay a 1% tax if the price is more than $1,000,000. | * Buyer has to pay a 1% tax if the price is more than $1,000,000. |
| >Regardless of whether the spouses are receiving one or two deeds into each spouse's name, the intent of the parties matters. The intent is clearly that the spouses purchase the one property together. The performance of separate contracts resulting in separate deeds is merely a fiction to attempt to circumvent the intention of the law. The total consideration is the combined consideration of each deed together. "Consideration" is defined in part as "the entire compensation paid or to be paid for the transfer of title." If the total consideration or selling price exceeds $1,000,000, the grantees or buyers must remit the 1% fee. | >Regardless of whether the spouses are receiving one or two deeds into each spouse's name, the intent of the parties matters. The intent is clearly that the spouses purchase the one property together. The performance of separate contracts resulting in separate deeds is merely a fiction to attempt to circumvent the intention of the law. The total consideration is the combined consideration of each deed together. "Consideration" is defined in part as "the entire compensation paid or to be paid for the transfer of title." If the total consideration or selling price exceeds $1,000,000, the grantees or buyers must remit the 1% fee. |
| </WRAP> | </WRAP> |
| | * https://www.state.nj.us/treasury/taxation/realtytransfees.shtml -> "Additional Fee on Certain Transfers of Real Property Over $1,000,000" has some information on this. |
| | * https://www.state.nj.us/treasury/taxation/documents/pdf/guides/Buying-or-Selling-a-Home-in-New-Jersey.pdf mentions about this but does not go into details. |
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