New Jersey § 46:15-7

§ 46:15-7.

a. In addition to all other fees imposed under P.L.1968, c. 49 ( C.46:15-5 et seq. ), there is imposed a fee upon the grantee of a deed for the transfer of real property: (1) that is classified pursuant to the requirements of N.J.A.C.18:12-2.2 as Class 2 “residential”; (2) (a) that includes property classified pursuant to the requirements of N.J.A.C.18:12-2.2 as Class 3A: “farm property (regular)” but only if the property includes a building

or structure intended or suited for residential use, and (b) any other real property, regardless of class, that is effectively transferred

to the same grantee in conjunction with the property described in subparagraph (a)

of this paragraph; (3) that is a cooperative unit as defined in section 3 of P.L.1987, c. 381 ( C.46:8D-3 ); or (4) that is classified pursuant to the requirements of N.J.A.C.18:12-2.2 as Class 4A “commercial properties” that is transferred for consideration in excess

of $1,000,000 recited in the deed, which fee shall be an amount equal to 1 percent

of the entire amount of such consideration, which fee shall be collected by the county

recording officer at the time the deed is offered for recording and remitted to the

State Treasurer not later than the 10th day of the month following the month of collection

for deposit into the General Fund. b. (1) The fee imposed by subsection a. of this section shall not apply to a deed

if the grantee of the deed for the transfer of real property is an organization determined

by the federal Internal Revenue Service to be exempt from federal income taxation

pursuant to paragraph (3) of subsection (c) of section 501 of the federal Internal Revenue Code

of 1986 , 26 U.S.C. s.501 . (2) The fee imposed by subsection a. of this section shall not apply to a deed if

the transfer of real property is incidental to a corporate merger or acquisition and

the equalized assessed value of the real property transferred is less than 20% of

the total value of all assets exchanged in the merger or acquisition. A grantee shall claim this exemption from imposition of the fee at the time the

deed is offered for recording by filing with the county recording officer such information,

in addition to the affidavit of consideration filed by one or more of the grantee

parties named in the deed or by the grantee's legal representative pursuant to subsection

d. of this section, as the Director of the Division of Taxation in the Department

of the Treasury may prescribe as to constitute a filing of a protest of the assessment

of the fee and by paying any other recording fees not exempted pursuant to this paragraph. This additional information shall be forwarded by the county recording officer to

the director along with the grantee's affidavit of consideration, and shall be deemed

to be and have the effect of a protest of a finding by the director of a deficiency

of payment of the fee filed on the date on which the deed is recorded. (3) The fee imposed by subsection a. of this section shall not apply to a deed if

the transfer of real property is entered into on or after January 1, 2021 and is an

intercompany transfer between combined group members as part of the unitary business,

as those terms are used in section 4 of P.L.1945, c. 162 ( C.54:10A-4 ). c. The fee imposed by subsection a. of this section shall be subject to the provisions

of the State Uniform Tax Procedure Law, R.S.54:48-1 et seq. ; provided however, that notwithstanding the provisions of subsection a. of R.S.54:49-14 , a taxpayer may file a claim under oath for refund at any time within 90 days after

the payment of any original fee and that subsection b. of R.S.54:49-14 shall not apply to any additional fee assessed. d. (1) If a transfer includes property classified pursuant to the requirements of N.J.A.C.18:12-2.2 as Class 4 property of any type, an affidavit of consideration shall be filed by

one or more of the grantor parties named in the deed or by the grantor's legal representative

declaring the consideration and shall be annexed to and recorded with the deed as

a prerequisite for the recording of the deed. The filing of an affidavit of consideration pursuant to this paragraph shall be

in addition to the filing, if any, pursuant to paragraph (2) of this subsection. (2) Whether or not the transfer is exempt, pursuant to subsection b. of this section

or any other provision of law, from payment of the fee pursuant to subsection a. of

this section, if a transfer includes property otherwise subject to subsection a. of

this section, then an affidavit of consideration shall be filed by one or more of

the grantee parties named in the deed or by the grantee's legal representative declaring

the consideration and shall be annexed to and recorded with the deed as a prerequisite

for the recording of the deed. The filing of an affidavit of consideration pursuant to this paragraph shall be

in addition to the filing, if any, pursuant to paragraph (1) of this subsection. (3) An affidavit of consideration filed pursuant to paragraph (1) or paragraph (2)

of this subsection shall clearly and entirely state the consideration, the county

and municipality in which the property is situate, and the block and lot description

of the real property conveyed. (4) One copy of each affidavit of consideration filed and recorded with deeds pursuant

to this subsection shall be forwarded by the county recording officer to the Director

of the Division of Taxation in the Department of the Treasury on the tenth day of

the month following the month of the filing of the deed.