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SECTION 255 AFFIDAVIT State of New York County of)) SS.:), being duly sworn, depose and say that : I/We are the owner(s) of property situate at and the borrowers of the mortgages hereinafter described:

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How to fill out 255 affidavit cema

How to fill out 255 affidavit cema:

01

Gather all necessary information and documents: Before starting the process, make sure you have all the required information and documents ready. This may include property details, loan information, and relevant contact information.

02

Complete the top section: Begin by filling out the top section of the form, which includes details such as the borrower's name, property address, and loan number. Ensure that all information is accurate and up-to-date.

03

Provide relevant loan information: In the following sections of the form, you will need to provide specific loan details. This may include the loan amount, interest rate, and any outstanding balances. Be sure to double-check the accuracy of these figures.

04

Fill out the CEMA Information section: The form will have a designated section for CEMA (Consolidation, Extension, and Modification Agreement) information. Here, you will need to provide the necessary details related to the existing mortgage and the new loan being consolidated.

05

Include contact information: It is essential to include contact information for all relevant parties involved in the transaction. This may include the borrower, the lender, and any attorneys or representatives involved. Double-check the accuracy of this information as well.

06

Review and sign the affidavit: Before submitting the form, carefully review all the information provided to ensure its accuracy. Once satisfied, affix your signature in the appropriate section, and if necessary, have it notarized. Keep a copy of the completed form for future reference.

Who needs 255 affidavit cema?

The 255 affidavit CEMA is typically required when refinancing or consolidating an existing mortgage loan. It is mainly used in real estate transactions where a Consolidation, Extension, and Modification Agreement is involved. Both the borrower and the lender may need to submit this affidavit as part of the loan application and approval process. It's best to consult with your lender or attorney to determine if the 255 affidavit CEMA is necessary for your specific situation.

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What is 255 affidavit cema?

255 affidavit cema is a form used by the New York State Department of Taxation and Finance for reporting and paying real estate transfer taxes.

Who is required to file 255 affidavit cema?

The seller and the buyer are required to file 255 affidavit cema when transferring real property in New York State.

How to fill out 255 affidavit cema?

To fill out 255 affidavit cema, both the seller and the buyer must provide information about the property being transferred, the purchase price, and any exemptions or deductions that may apply.

What is the purpose of 255 affidavit cema?

The purpose of 255 affidavit cema is to ensure that the correct amount of real estate transfer taxes are paid when property is transferred in New York State.

What information must be reported on 255 affidavit cema?

Information such as the property address, purchase price, exemptions, and deductions must be reported on 255 affidavit cema.

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