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John Deverdi…, Home Owner in 02038

Real estate transfer tax paid late by title company, now state coming after me for late fee and penalty

Asked by John Deverdits, 02038 Wed Aug 8, 2012

Hi, I sold a house in Nassau county on Long Island, NY Jan 2010. A month ago I get a letter from NYS that since the transfer tax was paid almost a year late, I owe them $800 in interest and penalty. I've contacted my attorney who handled the closing who contacted the buyer's atty and title underwriter, but the actual title company doesn't seem to be in business any more. What are my chances of having the $800 be paid by the title underwriter and is there anything I could do increase those chances. I contacted NYS and they gave me an extra week or so whereas my lawyer tells me it's going to take months before and if I see anything back from the underwriter, but at the same time tells me not to pay it. I'm risking having a collection company come after me for this, as well as it affect my credit score, anyone have any advice on how best to handle this?

Thanks in advance.

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The title company is responsible for the late charges. Check your HUD-1 to see who it was. The title companies put the insurance with larger companies. NYS can tell you who they put the insurance through or if the buyer or their attorney takes out the title policy, it is usually on the front page.
0 votes Thank Flag Link Thu Aug 9, 2012
Your attorney can best advise; if unsatisfied, consider consulting with another who specializes in real estate...
0 votes Thank Flag Link Thu Aug 9, 2012
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