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This entry was published on 2014-09-22
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SECTION 471
Intent
Real Property (RPP) CHAPTER 50, ARTICLE 15
§ 471. Intent. The legislature finds and declares that the public
policy of this state favors the marketability of real property and the
transferability of interests in real property free of title defects or
unreasonable restraints on alienation. The legislature further finds and
declares that private transfer fee obligations violate this public
policy by impairing the marketability and transferability of real
property and by constituting an unreasonable restraint on alienation
regardless of the duration of the obligation to pay a private transfer
fee, the amount of a private transfer fee, or the method by which any
private transfer fee is created or imposed. Thus, the legislature finds
and declares that a private transfer fee obligation shall not run with
the title to property or otherwise bind subsequent owners of property
under any common law or equitable principle.