SMPR E-Recording
Posted on March 18, 2020 by Melissa Clement All checks that would normally be made payable to the County Clerk, should now be made payable to SMPR Title Agency, Inc. The health of our community – our employees, our customers, our vendors, and our colleagues in the County Clerk’s Office – is of paramount importance. SMPR has taken […]
New Disclosure Requirement for LLC Buying or Selling 1 to 4 Family Residential Property
IMPORTANT NOTICE September 2019 EFFECTIVE IMMEDIATELY – On September 13, 2019, Tax Law Section 1409 and NYC Admin Code Section 11-2105 were amended to change the information that must be included on the TP-584 and NYC RPT forms that accompany deeds that are recorded where a limited liability company (“LLC”) is either a Grantor or […]
New Disclosure Requirement for LLC Buying or Selling 1 to 4 Family Residential Property
IMPORTANT NOTICE September 2019 EFFECTIVE IMMEDIATELY – On September 13, 2019, Tax Law Section 1409 and NYC Admin Code Section 11-2105 were amended to change the information that must be included on the TP-584 and NYC RPT forms that accompany deeds that are recorded where a limited liability company (“LLC”) is either a Grantor or […]
Changes to the TP-584
Posted on December 18, 2019 by Melissa Clement EFFECTIVE IMMEDIATELY: The NYS Department of Tax and Finance has released a new TP-584, Combined Real Estate Transfer Tax Return and TP-584 NYC. Effective January 1, 2020, the County Clerks’ Offices will not accept the old forms. Please utilize the TP-584 and TP-584-NYC for properties located in New York which […]
WHAT DOES TAX REFORM HAVE TO DO WITH TITLE INSURANCE?
The answer is “Plenty!” Congress’ passage of the Tax Cuts and Jobs Act of 2017 established the Opportunity Zone community development tax incentive program. Intended to encourage long-term investment and economic development in financially distressed areas of the United States,[1] the program will allow reinvestment of unrealized capital gains into certified Opportunity Funds dedicated to investing […]
JUMPING ON BOARD THE BLOCKCHAIN REVOLUTION
Posted on March 21, 2018 by Justin Clement March 2018 -Lynn Schwartz “If you don’t like something change it. If you can’t change it, change your attitude.” Maya Angelou Many of us resist change, fearful of disrupting the status quo. While attorneys may not enthusiastically embrace the rapidly developing technology known as blockchain, they need to understand that blockchain […]