Sellers residency certification exemption 2025

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  1. Click ‘Get Form’ to open the Seller’s Residency Certification/Exemption in the editor.
  2. Begin by entering the seller's information, including names and current street address. Ensure accuracy as this identifies the seller.
  3. Next, input property information such as block and lot numbers, total consideration, and closing date. This section is crucial for tax assessment.
  4. Review the Seller’s Assurances section carefully. Check all applicable boxes that apply to your situation to confirm your exemption status.
  5. Complete the Seller’s Declaration by signing and dating the form. If a Power of Attorney is involved, ensure proper documentation is attached.
  6. Finally, submit the completed form to your settlement agent at closing for recording with the deed.

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Eligibility Active wartime service in the United States Armed Forces. Filing of an application for exemption with the local tax assessor. Honorable discharge. Legal or domiciliary New Jersey residence. New Jersey citizenship. Principal or permanent residence in the claimed dwelling. Property ownership.
A Resident of New Jersey is an individual that is domiciled in New Jersey for the tax year or an individual that maintains a permanent home in New Jersey and spends more than 183 days in the state. A Nonresident of New Jersey is an individual that was not domiciled in New Jersey.
NJ Taxation Any amount that is taxable for federal purposes is taxable for New Jersey purposes. Single filers can qualify to exclude up to $250,000. Joint filers can qualify to exclude up to $500,000. This is true regardless of age, as long as you owned and lived in the residence for 2 of the 5 years prior to the sale.
Sellers Residency Certification/Exemption Instructions Individuals, estates, trusts, or any other entity selling or transferring property in New Jersey must complete this form if they are not subject to the Gross Income Tax estimated payment requirements under N.J.S.A.
(p) Class 15E: Cemeteries and Graveyards means real property solely devoted to or held for use as a cemetery, graveyard, or burial ground. (q) Class 15F: Other Exempt means real property exempt from taxation but not described in any of the foregoing classes.
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Tax Withholding Requirements: Nonresidents are required to withhold income tax at the higher of two options: either 10.75% of the reportable gain or 2% of the total consideration. Reporting to the Division of Taxation: Various GIT/REP forms are available to report sales to the Division of Taxation.

nj seller's residency certification