Typically the New Jersey Transfer Tax
is paid by the seller and the Mansion Tax on residential or commercial
purchases of $1 million or more is paid by the buyer.
*Senior Citizens selling primary residences, blind or disabled
persons, and sellers of low or affordable income homes with resale
controls or restrictions
are entitled to partial exemptions. New construction no longer qualifies
for an exemption. Other circumstances can result in a full exemption.
Discuss this with a New Jersey Attorney.
For more information see http://www.state.nj.us/treasury/taxation/pdf/other_forms/lpt/rtfexempt.pdf
or discuss this matter with your New Jersey attorney.