§ 663. Estimated tax on sale or transfer of real property by\nnonresident. (a) Upon the sale of real property within the state by a\nnonresident taxpayer, the nonresident shall estimate the personal income\ntax liability on the gain, if any, from such sale or transfer. In\naddition, upon the sale, conveyance or other disposition of shares of\nstock in a cooperative housing corporation in connection with the\ntransfer of a proprietary leasehold by the owner thereof and subject to\nthe provisions of article thirty-one of this chapter, the nonresident\nshall estimate the personal income tax liability on the gain, if any,\nfrom such sale, conveyance or other disposition.\n (b) Such estimation shall be done upon a form prescribed by the\ncommissioner, utilizing an estimated tax rate equal to the highest rate\nof tax for the taxable year set forth in section six hundred one of this\narticle.\n (c) This section shall not apply where:\n (1) The real property being sold or transferred is a principal\nresidence of the seller or transferor within the meaning of section 121\nof the Internal Revenue Code;\n (2) The seller or transferor is a mortgagor conveying the mortgaged\nproperty to a mortgagee in foreclosure or in a transfer in lieu of\nforeclosure with no additional consideration; or\n (3) The transferor or transferee is an agency or authority of the\nUnited States of America, an agency or authority of the state of New\nYork, the Federal National Mortgage Association, the Federal Home Loan\nMortgage Corporation, or the Government National Mortgage Association,\nor a private mortgage insurance company; or\n (4) The proprietary leasehold being transferred in connection with the\nsale, conveyance or other disposition of the shares of stock in a\ncooperative housing corporation is a principal residence of the seller\nor transferor within the meaning of section 121 of the Internal Revenue\nCode;\n (d) A recording officer shall not record or accept for recording any\ndeed unless one of the following conditions is satisfied:\n (1) it is accompanied by a receipt issued by the commissioner\nindicating that the estimated tax required by this section has been paid\nto the commissioner either electronically or as otherwise prescribed by\nhim or her;\n (2) it is accompanied by a form prescribed by the commissioner\npursuant to subsection (b) of this section and the payment of any\nestimated tax shown as payable on such form; or\n (3) such receipt or form includes a certification by the transferor\nthat this section is inapplicable to the sale or transfer.\n (e) Every recording officer shall act as an agent of the commissioner\nfor purposes of collecting the estimated personal income tax, if any,\nshown to be payable upon the form prescribed pursuant to subsection (b)\nof this section. The commissioner, by regulation, shall prescribe one or\nmore methods for the recording officer's collection of such estimated\ntax. Every recording officer shall remit to the commissioner any funds\ncollected and any returns filed with such recording officer under this\nsection on such days as the commissioner shall set by regulation\nconsistent with the provisions of section fourteen hundred ten of this\nchapter for the remission of the tax imposed under article thirty-one of\nthis chapter. Every recording officer also shall follow such procedures\nand keep such records in respect to the implementation of this section\nas the commissioner may prescribe.\n (f) A recording officer shall not be liable under this section for any\ninaccuracy in any statement on the form prescribed pursuant to\nsubsection (b) of this section or in the amount of estimated personal\nincome tax he or she shall collect under this section so long as he or\nshe shall collect the estimated personal income tax shown as payable on\nsuch form.\n (g) If a deed is recorded notwithstanding an omission or inaccuracy in\nthe form prescribed pursuant to subsection (b) of this section or i
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