Deed Transferring Real Property into Living Trust - New York

This instrument prepared by:
[____________________________________]
[____________________________________]
[____________________________________]

After recording return to:
[____________________________________]
[____________________________________]
[____________________________________]

Send subsequent tax bills to:
[____________________________________]
[____________________________________]

Tax Map / Section-Block-Lot (SBL) No.: [____________]

SPACE ABOVE THIS LINE RESERVED FOR RECORDING OFFICER'S USE

BARGAIN AND SALE DEED — TO REVOCABLE LIVING TRUST

(With Covenant Against Grantor's Acts)

State of New York

1. GRANTOR

THIS INDENTURE, made on [__/__/____], between

[GRANTOR FULL LEGAL NAME], [a single person / a married person / spouses], residing at [____________________________________] ("Grantor"),

and the Grantee identified below.

2. GRANTEE / VESTING IN TRUSTEE

[GRANTOR FULL LEGAL NAME], as Trustee of the [TRUST NAME] dated [__/__/____], and any successor trustee then serving under that trust instrument and any amendments to it, whose address is [____________________________________] ("Grantee" or the "Trustee").

The Property is conveyed to the Trustee to be held, administered, and distributed according to the terms of the [TRUST NAME] dated [__/__/____] (the "Trust"). Title vests in the Trustee in trust and in any successor trustee without the necessity of any further conveyance, in accordance with the powers and authority granted to the Trustee under the Trust and under the laws of the State of New York, including N.Y. EPTL Article 7.

3. CONSIDERATION

This conveyance is made for no consideration (or nominal consideration of $1.00), solely for estate-planning purposes, with no change in beneficial ownership of the Property. The Grantor is the settlor and a beneficiary of the Trust during the Grantor's lifetime. No sale, purchase, or exchange has occurred.

4. GRANTING CLAUSE

WITNESSETH, that the Grantor, in consideration of the sum stated above and other good and valuable consideration paid by the Grantee, the receipt of which is acknowledged, does hereby GRANT and RELEASE unto the Grantee, as Trustee as aforesaid, and to the Grantee's successors in trust and assigns forever, all that certain plot, piece, or parcel of land, with the buildings and improvements thereon erected, situate, lying, and being in the County of [____________], State of New York (the "Property"):

Property commonly known as: [STREET ADDRESS, CITY/TOWN, NEW YORK, ZIP]

Legal Description: See Exhibit A attached hereto and incorporated by reference.

TOGETHER with all right, title, and interest, if any, of the Grantor in and to any streets and roads abutting the Property to the center lines thereof; TOGETHER with the appurtenances and all the estate and rights of the Grantor in and to the Property; TO HAVE AND TO HOLD the Property unto the Grantee, as Trustee, and the Grantee's successors in trust and assigns forever.

5. COVENANT AGAINST GRANTOR'S ACTS; SUBJECT TO

5.1 Covenant against grantor's acts (RPL § 258, Schedule E). AND the Grantor covenants that the Grantor has not done or suffered anything whereby the Property has been encumbered in any way whatever, except as set forth below.

5.2 Section 13 (Lien Law) covenant. AND the Grantor, in compliance with Section 13 of the Lien Law, covenants that the Grantor will receive the consideration for this conveyance and will hold the right to receive such consideration as a trust fund to be applied first for the purpose of paying the cost of the improvement and will apply the same first to the payment of the cost of the improvement before using any part of the total of the same for any other purpose.

5.3 Subject to. This conveyance is made subject to:

(a) Real property taxes and assessments for the current and subsequent periods, not yet due and payable;
(b) Easements, covenants, conditions, restrictions, reservations, and rights-of-way of record;
(c) Applicable zoning, building, land-use, and environmental laws and regulations; and
(d) Any mortgage or other lien of record, which the Trustee takes subject to but does not assume except as separately agreed in writing.

6. PURPOSE; HOMESTEAD/STAR-EXEMPTION CONTINUITY; TITLE INSURANCE

6.1 Estate-planning purpose. The sole purpose of this conveyance is to fund the Grantor's revocable living trust so that the Property may pass on the Grantor's death under the terms of the Trust without probate (Surrogate's Court) administration. The Grantor reserves all rights to amend or revoke the Trust and to direct the Trustee to reconvey the Property to the Grantor at any time.

6.2 STAR / exemption continuity. The parties intend that any exemption or assessment benefit applicable to the Property — including the STAR (School Tax Relief) exemption/credit and any senior or veteran exemption — continue uninterrupted following this conveyance. Because the Grantor remains the beneficial owner and a beneficiary of the Trust, the Grantor should confirm continued eligibility with the local assessor and the New York State Department of Taxation and Finance after re-titling and re-file any required application.

6.3 Title insurance. Re-titling into a trust can affect an existing owner's title insurance policy. Before recording, ask the title insurer whether coverage continues and whether an endorsement naming the Trustee is required.

7. TRANSFER-TAX EXEMPTION AND GARN-ST GERMAIN RECITALS

7.1 New York State real estate transfer tax — exempt. New York imposes a real estate transfer tax under Tax Law § 1402 (generally $2 for each $500 of consideration). This conveyance into the Grantor's own revocable living trust, made without consideration, is exempt because it (i) effectuates a mere change of identity or form of ownership with no change in beneficial ownership under Tax Law § 1405(b)(6), and (ii) is a conveyance without consideration and not in connection with a sale under Tax Law § 1405(b)(4). The exemption must nonetheless be claimed on Form TP-584, which is filed even though no tax is due.

7.2 Required transfer filings. Even though no transfer tax is due, complete the filings applicable to the property's location:

• Form TP-584 (Combined Real Estate Transfer Tax Return), claiming the exemption (Schedule B) — outside New York City; Form TP-584-NYC within New York City.
• Form RP-5217-PDF (Real Property Transfer Report) — outside New York City.
• ACRIS — for property in Bronx, Kings, New York, or Queens County. Use the ACRIS transfer-report and e-tax workflow rather than Form RP-5217-NYC.
• Form RP-5217-NYC — for property in Richmond County (Staten Island), filed with the Richmond County Clerk.

7.3 NEW YORK CITY — separate NYC Real Property Transfer Tax (RPTT) FLAG. If the Property is located in New York City, the City imposes its own Real Property Transfer Tax in addition to the State tax. A transfer that is a mere change of identity or form of ownership is likewise exempt from the NYC RPTT under N.Y.C. Admin. Code § 11-2106(b)(8), but that exemption must be separately claimed on Form NYC-RPT (the NYC Real Property Transfer Tax Return). Do not assume the State TP-584 exemption carries over to the City. Form NYC-RPT must be filed with the City Register (or, for Staten Island, the Richmond County Clerk) for every NYC conveyance, including exempt ones.

7.4 No due-on-sale acceleration (Garn-St Germain Act). For a real-property loan secured by residential real property containing fewer than five dwelling units, 12 U.S.C. § 1701j-3(d)(8) prevents a lender from exercising a due-on-sale clause upon "a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property." If this conveyance satisfies each condition, the lender may not accelerate solely because of the transfer. The Grantor remains personally liable on any existing note. If the Property is encumbered by a credit-line mortgage, complete the Credit Line Mortgage Certificate on Form TP-584.

8. EXECUTION

IN WITNESS WHEREOF, the Grantor has executed this Bargain and Sale Deed on the date first written above.

GRANTOR:

____________________________________
[GRANTOR FULL LEGAL NAME]

____________________________________
[SPOUSE FULL LEGAL NAME], if joining

9. NOTARY ACKNOWLEDGMENT (New York — RPL § 309-a)

On the ____ day of ______________ in the year 20____, before me, the undersigned, personally appeared [GRANTOR FULL LEGAL NAME], personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument.

____________________________________
(Signature and office of individual taking acknowledgment)

Notary Public, State of New York
My commission expires: ______________

(Affix notarial stamp)

10. RECORDING AND TAX-FORM INSTRUCTIONS

1. Where to record.
   - Outside New York City: Record with the County Clerk of the county where the Property is located (RPL § 291).
   - In New York City (Bronx, Brooklyn/Kings, Manhattan/New York, Queens): Record with the NYC City Register (via the ACRIS system).
   - Staten Island (Richmond County): Record with the Richmond County Clerk.
2. State transfer-tax return — Form TP-584 (or TP-584-NYC in NYC). File with the recording officer no later than the 15th day after delivery of the deed. Claim the exemption (Schedule B) under Tax Law § 1405(b)(6) and/or § 1405(b)(4); no State tax is due on a no-consideration transfer into the grantor's own revocable trust.
3. Real Property Transfer Report. Outside New York City, file Form RP-5217-PDF with the deed and pay the filing fee. For Bronx, Kings, New York, or Queens County, complete the ACRIS transfer-report workflow. For Richmond County, file Form RP-5217-NYC with the Richmond County Clerk.
4. NYC Real Property Transfer Tax — Form NYC-RPT (NYC only). File Form NYC-RPT and claim the mere-change-of-form exemption under N.Y.C. Admin. Code § 11-2106(b)(8). See Section 7.3 — the City exemption is separate from the State exemption.
5. Recording fees. Pay the per-page recording fee and any county/city surcharges.
6. Update collateral records. After recording, (a) obtain written instructions from the property/casualty insurer on how the owner, Trustee, Trust, and lender should appear on the policy; (b) confirm STAR and any senior/veteran exemption with the local assessor; (c) furnish a recorded copy and an abstract/certification of the Trust to the title company; and (d) record the deed before any closing on a sale or refinance.

EXHIBIT A — LEGAL DESCRIPTION

[INSERT THE COMPLETE LEGAL DESCRIPTION EXACTLY AS IT APPEARS ON THE GRANTOR'S CURRENT VESTING DEED — metes-and-bounds; or block/lot with the Tax Map Section-Block-Lot (SBL) designation; or, in New York City, the Borough, Block, and Lot (BBL). Include the street address for reference only. Attach surveys or additional pages as needed.]

____________________________________

____________________________________

____________________________________

Sources and References

• N.Y. Real Prop. Law § 258 — statutory short forms of deeds, including the bargain and sale deed with covenant against grantor's acts (Schedule E).
• N.Y. Real Prop. Law § 291 — recording of conveyances with the recording officer of the county where the property is located.
• N.Y. Real Prop. Law § 309-a — uniform form of certificate of acknowledgment within the state.
• N.Y. Lien Law § 13 — trust-fund covenant recited in deeds.
• N.Y. Tax Law § 1402 — imposition of the New York State real estate transfer tax.
• N.Y. Tax Law § 1405(b)(6) — exemption: conveyance effecting a mere change of identity or form of ownership with no change in beneficial ownership.
• N.Y. Tax Law § 1405(b)(4) — exemption: conveyance without consideration and not in connection with a sale (bona fide gifts).
• Form TP-584 / TP-584-NYC — Combined Real Estate Transfer Tax Return (claim exemption; file even when no tax is due).
• Form RP-5217-PDF / ACRIS / Form RP-5217-NYC — location-specific Real Property Transfer Report filing.
• N.Y.C. Admin. Code § 11-2106(b)(8) — New York City RPTT exemption for a mere change of identity or form; claimed on Form NYC-RPT.
• N.Y. EPTL Article 7 — trusts.
• 12 U.S.C. § 1701j-3(d)(8) — limited due-on-sale protection when every residential-property, continuing-beneficiary, and occupancy-right condition is met.

This document is provided for informational purposes only and does not constitute legal advice. Consult a licensed New York attorney before executing or recording this deed. Within New York City, confirm the separate NYC RPTT exemption (Form NYC-RPT) and the location-specific ACRIS or Richmond County filing package.