- RER Exemption Checker -

Residential Property Criteria

Is the property residential (1-4 family units, condos, dual-use properties, shares in cooperative housing), or vacant land intended for home construction, located anywhere in the US (50 states), DC, Puerto Rico, US territories, or Native American lands?

Legal Entity or Trust Criteria

Is ANY buyer (or transferee) a legal entity or trust?

Note: This includes any type of entity such as LLCs, corporations, partnerships, estates, associations, statutory trusts, or trusts managed by trustees.

Cash Transaction Criteria

Is the property being purchased WITHOUT FINANCING from a lender with a regulated AML program (like a bank or credit union).

Note: Select yes for hard money loans or seller financing because these are NOT typically regulated lenders.

Exemptions

Do ANY of these other exemptions apply to your transaction:

• Transfer is due to a death (will, trust, inheritance) ⓘA transfer resulting from the death of an individual, whether pursuant to the terms of a will, the terms of a trust, the operation of law (such as transfers resulting from intestate succession, surviving joint owners, and transfer-on-death deeds), or by contractual provision (such as transfers resulting from beneficiary designations). These transfers are exempt from reporting.
• Divorce/dissolution settlement ⓘA transfer incident to divorce or dissolution of a marriage or civil union (such as transfers required by a divorce settlement agreement) is exempt from reporting.
• No-cost transfer to seller's or spouse's own trust ⓘA transfer for no consideration made by an individual, either alone or with their spouse, to a trust of which that individual, that individual’s spouse, or both, are the settlors or grantors. These transfers are exempt from reporting.
• Transfer to bankruptcy estate ⓘTransfer of property to a bankruptcy estate as part of bankruptcy proceedings. These transfers are exempt from reporting.
• Court-ordered or supervised transfer ⓘAny transfer ordered by or supervised by a U.S. court, including probate, guardianship, or other judicial proceeding is exempt from reporting.
• Easement (no property transfer) ⓘA transfer that is a grant, transfer, or revocation of an easement is exempt. Exemption does not include transfer of the underlying property.
• 1031 exchange to Qualified Intermediary ⓘA transfer to a qualified intermediary for the purposes of a like-kind exchange for purposes of Section 1031 of the Internal Revenue Code is exempt.
• Buyer is exempt regulated entity or its subsidiary (hover for list) ⓘ Includes any of these:
  1) Securities reporting issuer (public company);
  2) Bank;
  3) Credit union;
  4) Depository institution holding company;
  5) Money services business;
  6) Broker or dealer in securities;
  7) Securities exchange or clearing agency;
  8) Other Exchange Act registered entity;
  9) Insurance company;
  10) State-licensed insurance producer;
  11) Commodity Exchange Act registered entity;
  12) Public utility;
  13) Financial market utility;
  14) Registered investment company;
  15) Subsidiary of any of the above.
• Buyer is government authority ⓘBuyer is any federal, state, local, tribal, or foreign government entity or agency.
• Trust is a securities reporting issuer or has a public company trustee ⓘExempt if the trust itself is a securities reporting issuer, or if any trustee is a securities reporting issuer. A subsidiary of such a trust is also exempt.
• No reporting person involved in transfer (hover for list)ⓘExempt from reporting if none of the following parties are involved in assisting the transfer:
  1) Closing or settlement agent named on the closing or settlement statement;
  2) Preparer of the closing or settlement statement;
  3) Person who files with the recordation office the deed or other transfer instrument;
  4) Underwriter of the owner's title insurance policy;
  5) Person who disburses the greatest amount of funds for the transfer;
  6) Person who evaluates the status of title;
  7) Preparer of the deed or, if no deed, the instrument that transfers ownership (for co-op shares, the stock certificate preparer).