Affidavit of Consideration (RTF-1)
The RTF-1 is the seller's affidavit filed with the county clerk alongside the deed. It states the consideration paid and establishes which realty transfer fee (RTF) applies — or which exemption is being claimed.
Common exemption categories include transfers between spouses, gifts, corrective deeds, and transfers below the $100 minimum. Each exemption cites a specific NJSA section on the form.
RTF-1EE is the buyer's counterpart, required when the consideration exceeds $1,000,000 (the "mansion tax" threshold) or when claiming a buyer-side exemption.
GIT/REP: Gross Income Tax at Closing
New Jersey requires non-resident sellers to prepay estimated gross income tax on the sale. Which form applies depends on residency and the nature of the transaction:
- GIT/REP-1 — Non-resident seller, estimated tax paid at closing.
- GIT/REP-2 — Non-resident, no tax due (e.g. loss on sale) — requires supporting documentation.
- GIT/REP-3 — Seller's Residency Certification. Filed when the seller is a NJ resident, the property is a principal residence, or another statutory exemption applies.
- GIT/REP-4 — Waiver for specific transaction types (foreclosures, deed in lieu, mortgage in default).
Where these forms slow closings down
- Wrong exemption code cited on the RTF-1 — the clerk rejects the deed at recording and the transaction has to be re-signed.
- Non-resident seller assumes GIT/REP-3 applies when it doesn't — funds get held back and disbursement stalls.
- Consideration over $1M without a buyer-signed RTF-1EE — the mansion tax collection fails and the county rejects the package.
- Estate or LLC transfers where the signer's authority isn't documented on the affidavit.
This guide is educational and not legal or tax advice. Every transaction has its own facts — for specifics on your file, reach out and Nick will walk through it with you or connect you with the right resource at NU World Title.