Customarily the New Jersey Transfer Tax is paid by the seller and the Mansion Tax on residential or commercial purchases of $1 million or more is paid by the buyer.
*Senior Citizens selling primary residences, blind or disabled persons, and sellers of low or affordable income homes with resale controls or restrictions are entitled to partial exemptions. New construction no longer qualifies for an exemption. Other circumstances can result in a full exemption.
Discuss this with a New Jersey Attorney at Law.
For more information see http://www.state.nj.us/treasury/taxation/pdf/other_forms/lpt/rtfexempt.pdf
or discuss this matter with your New Jersey attorney at law.