2023 New York Laws › TAX - Tax › Article 31 - Real Estate Transfer Tax › 1423 - Modernization of Real Property Transfer Reporting.

§  1423.  Modernization  of  real  property  transfer  reporting.  (a)
Notwithstanding any provision of law to the contrary,  the  commissioner
is hereby authorized to implement a system for the electronic collection
of data relating to transfers of real property. In connection therewith,
the  commissioner may combine the two forms referred to in paragraph one
of this subdivision into a consolidated real property transfer  form  to
be filed with him or her electronically; provided:
(1) The two forms that may be so combined are the real estate transfer
tax  return  required  by section fourteen hundred nine of this article,
and the real property transfer report required by subdivision  one-e  of
section  three  hundred  thirty-three of the real property law. However,
the commissioner shall continue to maintain both such  return  and  such
report  as  separate  forms,  so  that a party who prefers not to file a
consolidated  real  property  transfer  form   with   the   commissioner
electronically shall have the option of filing both such return and such
report  with  the recording officer, as otherwise provided by law. Under
no circumstances shall a consolidated real  property  transfer  form  be
filed with, or accepted by, the recording officer.
(2)   Notwithstanding  the  provisions  of  section  fourteen  hundred
eighteen of this article, any information appearing  on  a  consolidated
real  property transfer form that is required to be included on the real
property transfer report required by subdivision one-e of section  three
hundred thirty-three of the real property law shall be subject to public
disclosure.
(3)  When a consolidated real property transfer form is electronically
submitted to the department by either the grantor or grantee or  a  duly
authorized  agent  thereof,  the  act  of  submitting such form shall be
deemed to be the signing of the return as required by paragraph  (v)  of
subdivision one-e of the real property law or subdivision (b) of section
fourteen  hundred nine of this article, and the requirement that all the
grantors and grantees shall sign the return shall  not  apply.  However,
the  fact that a grantor or grantee has not electronically submitted the
form shall not relieve that grantor or grantee of any liability for  the
tax imposed by this article.
(b)  When a consolidated real property transfer form is filed with the
commissioner electronically pursuant to this section,  the  real  estate
transfer  tax  imposed  under  this  article,  and  the  fee  that would
otherwise be retained by the recording officer pursuant  to  subdivision
three  of  section  three hundred thirty-three of the real property law,
shall be paid to the  commissioner  therewith.  The  commissioner  shall
retain  on  behalf of the recording officer the portion of such tax that
would otherwise have been retained by the recording officer pursuant  to
subdivision  (c)  of section fourteen hundred seven of this article, and
the portion of such fee that would otherwise have been retained  by  the
recording officer pursuant to subdivision three of section three hundred
thirty-three  of  the  real  property law. The moneys so retained by the
commissioner on behalf of the recording officer, hereinafter referred to
as the recording officer's fees, shall  be  deposited  daily  with  such
responsible  banks,  banking  houses,  or  trust  companies  as  may  be
designated by the state comptroller. Of the recording officer's fees  so
deposited,  the comptroller shall retain in the comptroller's hands such
amount as the commissioner may determine to be necessary for refunds  or
reimbursements  of  such  fees  collected  or  received pursuant to this
section,  out  of  which  the  comptroller  shall  pay  any  refunds  or
reimbursements of such fees to which persons shall be entitled under the
provisions of this section. The comptroller, after reserving such refund
and  reimbursement  fund  shall,  on  or  before the twelfth day of each
month, pay to the appropriate recording officers an amount equal to  the

recording  officer's  fees  reserved on their behalf. Provided, however,
that the commissioner is authorized  to  request  that  the  comptroller
refrain  from  making such a payment of such fees to a recording officer
until  the  commissioner  has  certified  to  the  comptroller  that the
recording officer has supplied the commissioner with the liber and  page
numbers of the recorded instruments that gave rise to such fees.
(c)  The  system  for  the  electronic submission of consolidated real
property transfer forms shall be designed so that  upon  the  successful
electronic filing of such a form and the payment of the associated taxes
and  fees,  the  party  submitting  the  same  shall be provided with an
electronic receipt  in  a  form  prescribed  by  the  commissioner  that
confirms  such filing and payment. Such party may file a printed copy of
such receipt with the recording officer  when  offering  the  associated
instrument for recording, in lieu of submitting to the recording officer
the  return, report, tax and fee that would otherwise have been required
under this article and subdivisions one-e and  three  of  section  three
hundred  thirty-three  of  the  real property law. The recording officer
shall retain such receipt for a minimum of three years, unless otherwise
directed by the commissioner, and shall provide a copy  thereof  to  the
commissioner for inspection upon his or her request.
(d)  Upon  recording  the  instrument  to  which the consolidated real
property transfer form pertains, the recording officer shall provide the
commissioner with the liber and page thereof at such time  and  in  such
manner as the commissioner shall prescribe.
(e)  The  provisions  of this section shall not be applicable within a
city or county that has implemented its own electronic  system  for  the
recording  of  deeds, the filing of the real estate transfer tax returns
and the real property transfer reports prescribed by  the  commissioner,
and  the  payment  of the associated taxes and fees, unless such city or
county shall notify the commissioner that such jurisdiction will  follow
the  system  authorized  pursuant to this section to be used therein, in
writing.