Section 1449-EEEEE. Exemptions

1.  The  following  shall  be exempt from
  payment of the real estate transfer tax:
    (a) The state of New York, or any of its agencies,  instrumentalities,
  political  subdivisions,  or  public  corporations  (including  a public
  corporation created pursuant to agreement or compact with another  state
  or the Dominion of Canada).
    (b)  The  United  Nations, the United States of America and any of its
  agencies and instrumentalities.
    The exemption of  such  governmental  bodies  or  persons  shall  not,
  however, relieve a grantee from them of liability for the tax.
    2. The tax shall not apply to any of the following conveyances:
    (a)  Conveyances  to the United Nations, the United States of America,
  the state of New York, or any of their  instrumentalities,  agencies  or
  political  subdivisions  (or  any public corporation, including a public
  corporation created pursuant to agreement or compact with another  state
  or the Dominion of Canada);
    (b)  Conveyances  which  are  or  were  used to secure a debt or other
  obligation;
    (c) Conveyances  which,  without  additional  consideration,  confirm,
  correct, modify or supplement a prior conveyance;
    (d)  Conveyances  of real property without consideration and otherwise
  than in connection with a sale, including conveyances  conveying  realty
  as bona fide gifts;
    (e) Conveyances given in connection with a tax sale;
    (f)  Conveyances  to  effectuate  a mere change of identity or form of
  ownership or  organization  where  there  is  no  change  in  beneficial
  ownership,  other  than conveyances to a cooperative housing corporation
  of the real property comprising the cooperative dwelling or dwellings;
    (g) Conveyances which consist of a deed of partition;
    (h) Conveyances given pursuant to the federal bankruptcy act;
    (i) Conveyances of real property which consist of the execution  of  a
  contract  to  sell  real  property  without the use or occupancy of such
  property or the granting of an option to purchase real property  without
  the use or occupancy of such property; and
    (j)  Conveyances  of  an  option or contract to purchase real property
  with the use or occupancy of such property where  the  consideration  is
  less than two hundred thousand dollars and such property was used solely
  by  the  grantor as his personal residence and consists of a one, two or
  three-family house, an individual residential condominium  unit  or  the
  sale  of  stock  in a cooperative housing corporation in connection with
  the grant or transfer of a proprietary leasehold covering an  individual
  residential cooperative unit.