Frequently
Asked
Questions
National Granite Title Insurance Agency prides itself on being easy to do business with. The information provided here will help you get the high-quality service you expect from National Granite.
Table of Contents
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What Services are available from National Granite Title Insurance Agency?
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What are the new recording procedures for New York City closings?
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I have comments, praise or questions. Can I send it to you On Line?
How do I contact National Granite Title Insurance Agency?
Send email by clicking here 
info@nationalgranite.com
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National Granite Title Insurance Agency, Inc. 155 North Main Street New City, New York 10956 (845) 639-1415 fax (845) 639-1239
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Serving New Jersey - Licensed and All Work Done In House! |
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National Granite Title Insurance Agency, Inc. 350
Fifth Avenue — Suite 3304 New
York, New York 10118 (212) 665-0644 fax (212) 587-0322 |
National Granite Title Insurance Agency, Inc. 50
Main Street — Suite 1026 White
Plains, New York 10606 (914) 682-7611 fax (914) 682-7641 |
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National Granite Title's Web Privacy Policy
Please click here to view the Privacy Policy for nationalgranite.com. This link will open a new browser window with the Policy in Adobe Acrobat format.
What is a Title?
A Title is a valid claim to ownership of real property, evidenced by deed,
certificate of title, or bill of sale. A lender will extend mortgage
financing to a buyer only if the seller holds uncontested ownership of the
property in question. Most states treat a mortgage as a lien against the
title held by the lender, or mortgagee.
A Title Insurance Company is a firm that verifies ownership of real property, often done in connection with a conveyance of real property from seller to buyer. The valid owner is determined through a thorough examination of property records in a Title Search. The company issues a title certificate, based on its examination.
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What Services are available from National Granite Title Insurance Agency?
National Granite Title Insurance Agency is a full service firm offering prompt, courteous, professional service. Our in house Counsel with over 30 years experience in Real Estate is an expert who is available to answer your real estate questions and assist you in resolving Title issues. Click here to visit our Services page. To view National Granite's informational flyer, click here (this Acrobat pdf document will open in a new window).
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What are the rules for the new TP584 form?
Under Tax Law Section 663 (effective September 1, 2003), non resident individuals, non-resident estates, and non-resident trusts who are conveying a fee interest in real property, must submit form IT 2663 to the State Tax Department and obtain a “Certification For Recording of Deed” (the Certification) from the Department before the deed can be recorded. To make sure that sellers comply with the new §663, the State amended Form TP-584 by adding a Schedule D. Click here to see National Granite's Title Counsel's Memorandum. Click here to go to National Granite's Forms Library to see the new TP584 form. There is a new IT 2663 for for 2006!
What are the new recording procedures for New York City closings?
Beginning July 5, 2004, all Real Property Transfer forms must be created electronically through ACRIS, New York City's Automated City Register Information System. As a courtesy to help our clients prepare the forms in draft form, National Granite will continue to provide the forms on its website. Note, however, that the only forms acceptable to the County Clerks in the City of New York are those prepared on the City's ACRIS system. You can visit the ACRIS website by clicking here. You can visit National Granite's Forms Library by clicking here.
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What are 1031 Like Exchanges?
A “Like Kind Exchange” under Internal Revenue Code §1031 can be used by a seller of real property to defer, and in some cases avoid, the payment of income taxes that would be currently due if the sale resulted in a gain for the seller. A seller is normally obligated to report as income any gain derived from the sale of real property in the tax year that the sale was completed. §1031 makes an exception to this requirement. In general, §1031 provides that no gain or loss is recognized where real property that was held for business use or for investment purposes is exchanged for like kind property.
Exchanges under §1031 are common, but they are also complex and difficult. A primary reason for the difficulty is that it is rare for a seller to find a buyer who has qualified real property to exchange or, for that matter, who even wishes to be involved in any manner with an exchange under §1031. The most common method of avoiding this problem is through the use of qualified intermediaries in the manner described in IRS regulation 1.1031 (k)-1(g)(4).
National Granite, through its wholly owned subsidiary
National Granite 1031 Services, Inc., can serve as a qualified
intermediary and can assist you in completing the exchange.
Can I Get Forms On Line?
Yes, you can view and print forms from National Granite's Website. And now, with Adobe Acrobat Reader 5.0 or later, you can fill in forms on line and print them in your office! You don't have to print out a blank and use a typewriter any more! We have prepared a selection of frequently used forms that are available for your use as often as you need. The forms are in industry-standard pdf format that is read with Adobe Acrobat Reader. If you don't have Acrobat, you can easily download it at no charge by following the link on our Forms page. Once you have Acrobat installed on your PC, all the forms in National Granite's Forms Library are simply a click away! Visit the Forms Library by clicking here.
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Can I Receive Title Reports via Email?
Yes, you can receive your Title Reports from National Granite in three ways: regular mail, fax and email. For email, using the latest in high-speed digital scanning technology, we prepare your Report in industry-standard pdf format that can be viewed and printed with Adobe Acrobat Reader (the same software you use with National Granite Forms) and send it to your email account. Be sure to let us know your email address and that you would like to receive your Title Reports via email!
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Can I Order a Title On Line ?
Yes, you can send us information about the Title Order by clicking here. When we receive your information, we will send you a confirmation of your order by fax or email..
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I have comments, praise or questions. Can I send it to you On Line?
We love hearing from you! You can use our Comments form to send a message directly to National Granite by clicking here. Remember that you can always send us email too...click here to send us email. Thanks!
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Copyright © 2008 National Granite Title Insurance Agency, Inc. All rights
reserved.
Revised: May 06, 2008
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