Inquiry
Hello! I have some questions regarding deed records in the "real property master" dataset. For context, I am grouping these records by bbl using "real property legals" and also joining party information using "real property parties":
- Why are there sometimes multiple deeds filed on one day for a given tax lot?
- When the last deed transaction date shows multiple deeds filed on the same day, how can we determine the current property owner of the tax lot?
- What does a 'docamount' value of 0 on a deed signify, specifically when the deed is filed the same day as other deeds with non-zero 'docamount' values?
- How are 'documentid' values ordered, if at all?
Assigned Agencys Response
The answers are as follows:
Why are there sometimes multiple deeds filed on one day for a give tax lot?
This is the nature of property sales and is controlled by the buyers and sellers and not the Department of Finance so we would not be able to list all reasons. Note that there is no requirement to record a deed when the property sells although transfer taxes returns must still be filed. With that said two common occurrences are:
Flips where party A sells the property to party B who then sells the property to party C. By looking at the document dates on the two deeds you can tell how long B help the property and often that will imply what B did with the property.
Settlement of an estate. In this case party A passes away and leaves the property to party B. Party B then only records the deed associated with this transfer then he sells to party C immediately prior to the recording for the deed from B to C.
When the last deed transaction date shows multiple deeds file on the same day, how can we determine the current property owner of the tax lot?
Generally speaking one should order by the document date from newest to oldest, next by CRFN from highest to lowest and finally by document id from highest to lowest. Note that the document id ordering is only useful for documents without CRFN which are those documents recorded prior to 1/1/2003 and brought into ACRIS from systems pre-dating ACRIS.
What does a ‘docamount’ value of 0 on a deed signify, specifically when the deed is filed the same day as other deeds with non-zero ‘docamount’ value?
As noted in the Data Dictionary for the Real Property Master dataset, the Document Amount field is the “Total Consideration for Transfers and Principal debt or obligation for Mortgages”. For deeds you can think of the Document Amount as the sales price. With this in mind, a Document Amount of 0 means the property was transferred with any money changing hands. There can be many reason for a $0 consider, but normally it means the transfer is not an “arms-length” transaction among unrelated parties. The reason most commonly associated with multiple deeds recorded the same day, some of which have non-zero consideration, is the settlement of an estate as mentioned earlier. When party B inherits the property from party A, no money changes hand; however when B sells to C, it is for a non-zero amount.
How are ‘documentid’ values ordered, if at all?
There are three formats of Document ID in ACRIS. These are:
YYYYMMDDsssssttt = the format of documents record since 1/1/2003 where YYYY is the 4 digit year, MM is the 2 digit month, DD is the 2 digit day, sssss is a 5 digit sequence number within a day and ttt is a 3 digit sequence number within an ACRIS transaction. Document IDs in this format are assigned when the document submitter prepares the documents for recording. Documents with common ACRIS cover page transaction number, YYYYMMDDsssss, are submitted together and recorded in the order specified by sss. There is no significance to the ordering of the ACRIS cover page transaction numbers. Two submitters could prepare the documents for recording on the same day so share the YYYYMMDD portion of the document id, but could actually submit and have their documents recorded weeks or even months apart.
FT_Bssssssssssss = the format of documents whose index data was converted to ACRIS from the system immediately pre-dating ACRIS. In this format FT_ prefix is fixed, B is the property borough and ssssssssssss is a sequence number that increases with recording date.
BK_Btttttttttttt = the format of older documents whose microfilm images where indexed and imported into ACRIS. In this format the BK_ prefix is fixed, B is the property borough and tttttttttttt is a sequence number that increases with recording date. Note that BK_ documents are older than FT_ documents.
With this in mind, ordering FT_ and BK_ Document IDs has significance, but ordering Document IDs staring with 20 does not. For documents with Document ID starting with 20, use the CRFN which is a number with format YYYYrrrrrrrrr where YYYY is the year and rrrrrrrrr is a 9 digit padded sequence number which is reset each year and is monotonically increasing with recording date and time.
Regards,
DOF