Form Tc230 - Sale Statement - 2011 (Page 2 of 2) in pdf

4. TERMS OF SALE (continued)

d.  Does seller retain an interest in property? _____ If yes, describe _______________________________________________________________

e.  Does buyer acquire personal property as part of sale? _____ If yes, state values: Subject to sales tax $ _______________ Other $ _________

f.  Is sale in form of acquisition of controlling interest in owning entity? _____ If yes, name of entity ______________________________________

_______________________________________________________________________________________________________________________

5. CIRCUMSTANCES OF SALE - Answer all yes or no. If yes, provide details.

a.  Is the sale the result of the exercise of an option? ............................................................................................................................ _____

b.  Is the sale the result of a foreclosure, auction, bankruptcy or debt collection proceeding? ................................................................. _____

c.  Is the sale the result of a death, divorce, partition or dissolution of a business? ................................................................................. _____

d.  Are sellers engaged in a course of dealing with buyers as business partners, landlords, tenants, creditors, debtors or litigants? ...... _____

e.  Was the price originally set by the contract renegotiated? ................................................................................................................. _____

f.  Did buyers buy the contract of sale, option, winning bid or other right to acquire property? ................................................................ _____

g.  Did buyers occupy part of the property prior to sale? ......................................................................................................................... _____

h.  Do buyers occupy part of the property after sale? .............................................................................................................................. _____

i.  Do sellers retain a right to occupy part of the property after sale? ...................................................................................................... _____

j.  Do buyers own, lease or occupy other property on same block or an adjacent block? ....................................................................... _____

k.  Was the property sold free and clear of leases and tenancies? ......................................................................................................... _____

l.  Has application been made to change or continue permitted use of the property? ............................................................................. _____

m. Was the contract of sale contingent on the approval of such application? ......................................................................................... _____

n.  Has the property or an interest in it been the subject of other sales in the past two years? ................................................................ _____

o.  Do buyers acquire pending assessment review proceeding(s)? ......................................................................................................... _____

Detailed answers ___________________________________________________________________________________________________

________________________________________________________________________________________________________________

6. LAND OR BUILDING LEASE OF ENTIRE PROPERTY ASSIGNED OR CANCELLED BY THIS SALE

LESSOR

IF NOT OWNER OF RECORD, DESCRIBE RELATION TO PROPERTY

Term of lease

LESSEE

INDICATE RELATION TO BUYERS OR SELLERS

From

___/____

____/____

Annual rent

 Does lessor pay any of the operating expenses or real estate taxes? _____ If yes, specify ________________________

__________________________________________________________________________________________________

___________________

7. RESUBMISSION WITHOUT ATTACHMENTS

Original submission date: _____/_____/_____

INSTRUCTIONS. Submit this form when there has been an arm’s-length sale of the property or an interest in the property during the past two years or

if there is a contract of sale in effect when the application is filed or while the application is pending. If the sale was between related persons, it may be

described on Form TC200 instead of this form. If a sale occurs after the application is filed, or if there is a new contract of sale or material change in

the terms of the sale, the sale or other change must be disclosed on this form or Form TC200 and submitted at the hearing, attached to Form TC159. If

the sale, contract, or other change occurs after the hearing, it must be disclosed before acceptance of any offer of correction, attached to Form TC159.

Always attach this form to an application for correction or affidavit form (TC159). It is not valid or effective to disclose the sale if filed separately.

DEFINITIONS. When using this form, other than in part 2, the terms buyers and sellers include persons related to the named parties. Related persons

include individuals related by blood, marriage or adoption, individuals and the business entities they control, business entities under common control,

and fiduciaries and the beneficiaries for whom they act. A person includes a corporation or other business entity. Permitted use includes subdivision,

cooperative or condominium conversion, new construction, major alteration, zoning change, or grant or transfer of a business license.

ATTACHMENTS. Attach photocopies of the following and list them on the application or affidavit: The closing statement, if any. If there is a sale-lease

back, an abstract of the lease. If the deed or contract reserves an interest to the seller, a copy of the relevant document. If the applicant requests an

allocation between real and personal property, an itemized list of the personal property and proof of valuation.

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TC230