Fill and Sign the Non Profit Corporation to Limited Liability Form

© 2016 - U.S. Legal Forms, Inc. NEW JERSEY BARGAIN AND SALE DEED [Non-Profit Corporation to Limited Liability Company - Covenant as to Seller’s Acts] Control Number: NJ-027-78 I. TIPS ON COMPLETING THE FORMS The form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand. It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible. By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner. II. INFORMATION ON FILING THIS DEED Form RTF-1, “Affidavit of Consideration for Use By Seller,” must be annexed to and recorded with all deeds when entire consideration is not recited in deed or the acknowledgement or proof of the execution; when the grantor claims a total or partial exemption from the fee; Class 4 property that includes commercial, industrial, or apartment property; and for transfers of “new construction. For detailed instruction see the form and attached instructions at: http://www.state.nj.us/treasury/taxation/pdf/other_forms/lpt/rtfexempt.pdf A Realty Transfer Fee is generally required when real property is transferred by deed. Certain transactions are exempt from this fee. New Jersey Statutes § 46:15-10 – Exemptions from realty transfer tax, provides: The fee imposed by this act shall not apply to a deed:1. For a consideration, as defined in section 1(c), of less than $100.00; 2. By or to the United States of America, this State, or any instrumentality, agency, or subdivision thereof; 3. Solely in order to provide or release security for a debt or obligation; 4. Which confirms or corrects a deed previously recorded; 5. On a sale for delinquent taxes or assessments; 6. On partition; 7. By a receiver, trustee in bankruptcy or liquidation, or assignee for the benefit of creditors; 8. Eligible to be recorded as an "ancient deed" pursuant to R.S.46:16-7; 9. Acknowledged or proved on or before July 3, 1968; 10. Between husband and wife, or parent and child; 11. Conveying a cemetery lot or plot; 12. In specific performance of a final judgment; 13. Releasing a right of reversion; 14. Previously recorded in another county and full realty transfer fee paid or accounted for, as evidenced by written instrument, attested by the grantee and acknowledged by the county recording officer of the county of such prior recording, specifying the county, book, page, date of prior recording, and amount of realty transfer fee previously paid; 15. By an executor or administrator of a decedent to a devisee or heir to effect distribution of the decedent's estate in accordance with the provisions of the decedent's will or the intestate laws of this State; 16. Recorded within 90 days following the entry of a divorce decree which dissolves the marriage between the grantor and grantee; 17. Issued by a cooperative corporation, as part of a conversion of all of the assets of the cooperative corporation into a condominium, to a shareholder upon the surrender by the shareholder of all of the shareholder's stock in the cooperative corporation and the proprietary lease entitling the shareholder to exclusive occupancy of a portion of the property owned by the corporation. III. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the subject state. All information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you consult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney. THESE MATERIALS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OR PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEG AL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Grant, Bargain and Sale Deed - 1 - BARGAIN & SALE DEED (Covenant as to Seller’s Acts) (Non-Profit Corporation to L.L.C.) Prepared by: ________________________ This Deed is made on __________________, 200______, BETWEEN ______________________________ , a non-profit corporation of the state of New Jersey having it’s principle office at ________________________________________________, referred to as the Grantor, AND ______________________________ , a limited liability company of the state of New Jersey whose address is ________________________________________________, referred to as the Grantee. Transfer of Ownership. The Grantor grants and conveys the property described below to the Grantee. This transfer is made for the sum of __________________ Dollars ($________________________). The Grantor acknowledges receipt of this money. Tax Map Reference. The property conveyed herein is known as Lot ____________, Block ____________ as shown on the Tax Map of the Municipality of ________________________ No property tax identification number is available on the date of this Deed. (Check Box if Applicable.) Property Description. The property consists of the land and all the buildings and structures on the land in the Municipality of ________________________, County of ________________________, and State of New Jersey. The legal description is: SEE SCHEDULE “A” ANNEXED HERETO. Being the same land and premises which became vested in [grantor], by Deed dated __________________, and recorded on __________________, in the land records office of the Register of Deeds for __________________ County, New Jersey. The street address of the Property is: ____________________________________. 4. Type of Deed. This Deed is called a Grant, Bargain and Sale Deed. 5. Promises by Grantor. The Grantor promises that the Grantor has done no act to encumber the property. This is called a “covenant as to grantor’s acts” (N.J.S.A. 46:4-6). This promises means t hat the Grantor has not allowed anyone else to obtain legal rights which affect the property (such as by making a mortgage or allowing a judgment to be entered against the Grantor). 6. Signatures . The Grantor signs this Deed as of the date at the top of the first page. Grant, Bargain and Sale Deed - 2 - Witnessed or Attested by:      SignatureSignature Type or Print Name Type or Print Name SignatureSignature Type or Print Name Type or Print Name STATE OF ____________ COUNTY OF __________________ SS: I CERTIFY that on __________________, ____________________________________, personally came before me and this person acknowledged under oath, to my satisfaction that: (a) this person is the ____________ secretary of ________________________ the corporation named in this Deed; (b) this person is the attesting witness to the signing of this Deed by the proper corporate officer who is ________________________, the ____________ President of the corporation; (c) this Deed was signed and delivered by the corporation as its voluntary act duly authorized by a proper resolution of its Board of Directors; (d) this person knows the proper seal of the corporation which was affixed to this Deed; (e) this person signed this proof to attest to the truth of these facts; and (f) the full and actual consideration paid or to be paid for the transfer of title is $____________. Signed and sworn before me on __________________ Notary Public BARGAIN AND SALE DEED ________________________, a non-profit corporation, Grantor TO ________________________, a limited liability company, Grantee DATED: __________________, 200______ Record and Return to: [name] [company] [street address] [city, state and zip] Grant, Bargain and Sale Deed - 3 - SCHEDULE “A”