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This entry was published on 2014-09-22
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SECTION 472
Definitions
Real Property (RPP) CHAPTER 50, ARTICLE 15
§ 472. Definitions. 1. "Transfer" means the sale, gift, conveyance,
assignment, inheritance, or other transfer of an ownership interest in
real property located in this state.

2. "Private transfer fee" means a fee, charge or any portion thereof,
required by a private transfer fee obligation and payable, directly or
indirectly, upon the transfer of an interest in real property, or
payable for the right to make or accept such transfer, regardless of
whether the fee or charge is a fixed amount or is determined as a
percentage of the value of the property, the purchase price, or other
consideration given for the transfer. The following are not private
transfer fees for purposes of this section:

(a) Any consideration payable by the transferee to the transferor for
the interest in real property being transferred, including any
subsequent additional consideration for the property payable by the
transferee based upon any subsequent appreciation, development, or sale
of the property, provided such additional consideration is payable on a
one-time basis only and the obligation to make such payment does not
bind successors in title to the property. For the purposes of this
subparagraph, an interest in real property may include a separate
mineral estate and its appurtenant surface access rights.

(b) Any commission payable to a licensed real estate broker for the
transfer of real property pursuant to an agreement between the broker
and the transferor or the transferee, including any subsequent
additional commission for that transfer payable by the transferor or the
transferee based upon any subsequent appreciation, development, or sale
of the property.

(c) Any interest, charges, fees, or other amounts payable by a
borrower to a lender pursuant to a loan secured by a mortgage against
real property, including, but not limited to, any fee payable to the
lender for consenting to an assumption of the loan or a transfer of the
real property subject to the mortgage, any fees or charges payable to
the lender for estoppel letters or certificates, and any shared
appreciation interest or profit participation or other consideration and
payable to the lender in connection with the loan.

(d) Any rent, reimbursement, charge, fee, or other amount payable by a
lessee to a lessor under a lease, including, but not limited to, any fee
payable to the lessor for consenting to an assignment, subletting,
encumbrance, or transfer of the lease.

(e) Any consideration payable to the holder of an option to purchase
an interest in real property or the holder of a right of first refusal
or first offer to purchase an interest in real property for waiving,
releasing, or not exercising the option or right upon the transfer of
the property to another person.

(f) Any tax, fee, charge, assessment, fine, or other amount payable to
or imposed by a governmental authority.

(g) Any fee, charge, assessment, fine, or other amount payable to a
homeowners', condominium, cooperative, mobile home, or property owners'
association pursuant to a declaration, covenant, duly adopted by-law,
proprietary lease or law applicable to such association, including, but
not limited to, fees or charges payable for estoppel letters or
certificates issued by the association or its authorized agent. No
amount shall be paid to a homeowners', condominium, cooperative, mobile
home, or property owners' association for the payment to the declarant
of the condominium or the creator of a homeowners', cooperative, mobile
home or property owners' association, or their designee.

(h) Any fee, charge, assessment, dues, contribution, or other amount
imposed by a declaration or covenant encumbering a community, and
payable to a not-for-profit or charitable organization for the purpose
of supporting cultural, educational, charitable, recreational,
environmental, conservation, or other similar activities benefiting the
community that is subject to the declaration or covenant.

(i) Any fee, charge, assessment, dues, contribution, or other amount
pertaining to the purchase or transfer of a club membership relating to
real property owned by the member, including, but not limited to, any
amount determined by reference to the value, purchase price, or other
consideration given for the transfer of the real property.

(j) Any fee, charge or assessment payable by the transferee to a
corporation or company formed pursuant to the private housing finance
law.

(k) Any fee, charge or assessment payable by the transferee to a
corporation or company that has received a loan or subsidy pursuant to
the private housing finance law or general municipal law.

(l) Any amounts payable to a government entity.

3. "Private transfer fee obligation" means an obligation arising under
a declaration or covenant recorded against the title to real property,
or under any other contractual agreement or promise, whether or not
recorded, that requires or purports to require the payment of a private
transfer fee to the declarant or other person specified in the
declaration, covenant or agreement, or to their successors or assigns,
upon a subsequent transfer of an interest in the real property.