New York City Real Estate Attorney Natalia Sishodia Explains How to Transfer a Title in New York

December 06, 2022 at 17:05

New York City real estate attorney Natalia Sishodia ( releases a new article explaining the different transfer taxes involved when transferring a title. The lawyer mentions that transfer taxes are generally the second highest closing cost of real estate property transfers in New York. New York laws require a written legal instrument when transferring real estate property to someone else.

“When you’re a property owner, the element that shows you have control of the property is the title. Having a title in your name proves that you have ownership of the property. Once a property owner wants to get rid of their stake in a particular property, the real estate title transfer is the legal process for transferring ownership from one party to another,” the New York City real estate attorney says.

New York City real estate attorney

The lawyer mentions that in New York, real property is transferred by means of a deed. After the deed is signed and completed, the process is technically complete. To provide protection against other claims to the ownership of the property, the deed will need to be recorded in the county where the property is located.

Attorney Natalia Sishodia adds that there are many different kinds of deeds. When transferring property, the kind of deed a person will have to use depends on what rights are being transferred and who will be transferring the rights. These deeds must be carefully drafted and recorded in order to be enforceable.

In the article, the attorney says, “In addition to the preparation of a deed, sellers must also be aware of transfer taxes imposed on the conveyance of real property. New York State imposes a real estate transfer tax on conveyances of real property or interest when the consideration exceeds $500. The tax is computed at a rate of two dollars for each $500 of consideration, which is 0.4%.”

Lastly, the real estate attorney emphasizes the importance of having a skilled attorney when it comes to dealing with matters such as investing in properties. An experienced lawyer may be able to help the client understand their rights and make guided decisions about their purchase.

About Sishodia PLLC

Sishodia PLLC’s team of professional New York foreign investment lawyers pride themselves on their ability to give the most comprehensive advice and guidance possible to their clients. The lawyers at Sishodia PLLC take time to fully understand each client’s unique goals and circumstances, minimizing potential risks and issues. Call them today at (833) 616-4646 for a consultation.

Sishodia PLLC | Real Estate Attorney and Estate Planning Lawyer | Asset Protection Law Firm | 1031 Exchange - NYC

600 Third Avenue 2nd Floor, 600 3rd Ave Second Floor, New York, NY 10016, United States

(833) 616-4646


For more information about Sishodia PLLC, contact the company here:

Sishodia PLLC
Natalia Sishodia
Sishodia PLLC
600 Third Avenue 2nd Floor, New York, NY 10016, United States