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Power of Attorney
Why Do I Need to Sign a Real Estate Transfer Tax Form in New York?

Why Do I Need to Sign a Real Estate Transfer Tax Form in New York?

Full question:

My mother has Alzheimers, she live in Yonkers Ny, I live in CT....my brother ( 1of 4 siblings) is going to be made Power of Attorney, all siblings are fine with that, although yesterday he asked me to sign a REal Estate Transfer Tax form, Grantor being my mother and Grantee me but none of my other siblings are listed.. if I were to sign this doc, does this mean I take on all the taxes due and going forward on her property? Why would I sign this if the goal is to get my brother to have POA? I do not want to take on her real estate tax liability.. He told me each sibling will sign a seperate form, but this seems odd and I am concerned what if the other do not sign do I soley take on this liability? Is this needed to allow him to get POA? Why wouldn't he soley be signing this form... Confused please advise what I should do...thank you!

Category: Power of Attorney
Date: 04/07/2025
State: Connecticut

Answer:

A real estate transfer tax form is filed when there is a transfer of property. If the mother is transferring ownership to you as a grantee, then your name will be on the real estate records as an owner who will be liable for property taxes. Typically, a person who is granted a power of attorney with authority for real estate transactions may transfer property of the principal. This is an act that may be done by an agent after the POA is created, but is not necessary to the creation of the POA. It is unclear whether the mother transferred the property or did so through an agent. I suggest you contact the recorder’s office in the county where the property is located to determine if and by whom as transfer was made or consult a local attorney who can review all the facts and documents involved.

If you have questions about the filing of multiple forms, I suggest referring to the contact information at the following link, as filing requirements vary by local area:

http://www.nystax.gov/nyshome/how_to_reach.htm

FAQs

What are the disadvantages of being a power of attorney?

Being a power of attorney (POA) can come with significant responsibilities. A POA must act in the best interest of the principal, which can lead to legal liability if they fail to do so. Additionally, the POA may face emotional stress from making difficult decisions and managing the principal's finances. There is also the risk of family conflict, especially if other relatives disagree with decisions made by the POA. It's important to understand these challenges before accepting the role.

What three decisions cannot be made by a legal power of attorney?

A legal power of attorney generally cannot make decisions regarding the principal's will or estate planning, vote on behalf of the principal in elections, or make medical decisions if a healthcare proxy is in place. Additionally, a POA cannot make decisions that the principal is not capable of making, such as those involving their own capacity or consent. Always check state laws for specific limitations.

Can a sibling challenge a power of attorney?

Yes, a sibling can challenge a power of attorney (POA) if they believe it was obtained under duress, fraud, or if the principal lacked the capacity to grant it. They may also contest the actions of the POA if they believe the agent is not acting in the principal's best interest. Legal action can be taken in court to invalidate the POA or to seek a different arrangement.

How to get power of attorney over someone with Alzheimer's?

To obtain power of attorney (POA) over someone with Alzheimer's, the individual must be legally competent at the time of signing the POA document. If they are still capable of understanding the implications of the document, you can have them sign it. If they are no longer competent, you may need to seek guardianship through the court system. It's advisable to consult with an attorney experienced in elder law for guidance.

Can a patient override power of attorney?

Yes, a patient can override a power of attorney (POA) as long as they are mentally competent. They can revoke the POA at any time by notifying the agent and, ideally, documenting the revocation in writing. If the patient is no longer competent, they cannot revoke the POA, and the agent will continue to act on their behalf until a court decides otherwise.

What is a POA not allowed to do?

A power of attorney (POA) is not allowed to make decisions that are outside the scope of authority granted in the POA document. This includes making decisions about the principal's personal care if the POA is limited to financial matters. Additionally, a POA cannot change the principal's will or make decisions that are not in the principal's best interest. Always refer to state laws for specific limitations.