Consideration
Consideration is the value exchanged for the transfer, typically stated in the deed and used for transfer tax computations. NY deed guidance describes "consideration" as the money given in exchange for the property, although deeds often recite nominal consideration while actual financial consideration is reflected elsewhere in transaction documents and tax returns.
- Where it applies
- New York State
- When it comes up
- Closing; tax filing
- Property types
- All taxable conveyances
Read more in the Knowledge Base
- NYS and NYC Transfer Tax - Verified Net-Proceeds PlanningSellers
- Selling a Single-Family Home Outside New York CitySellers
- Selling Co-op Shares vs. Condo Units - Verified Tax and Process DifferencesSellers
- Competitive Intelligence in Leasing: Real-Time Market Monitoring forLandlords
- Building Amenities and Access RightsRenters
Title and Recording
- Assignment of Mortgage
- Bargain and Sale Deed (With Covenant Against Grantor's Acts)
- Bona Fide Purchaser (BFP)
- Borough-Block-Lot (BBL)
- Chain of Title
- City Register
- Condominium Common Charge Lien
- Conveyance
- Cover Page (NYC Recording)
- Deed
General information, not legal, tax or financial advice.