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HI HB2288

Bill

Status

Passed

6/22/2010

Primary Sponsor

Robert Herkes

Click for details

Origin

House of Representatives

2010 Regular Session

AI Summary

  • Prohibits real property deed restrictions or covenants from requiring transferees to pay fees for future property transfers, effective upon passage through June 30, 2015.

  • Exempts eight categories of permitted fees and charges: mortgage lender payments, condominium or planned community association dues, lease payments, option/right of first refusal waivers, developer payments, government entity payments, court-approved litigation settlements, and conservation management payments.

  • Voids and renders unenforceable any deed restriction, covenant, or lien created, filed, or recorded after the effective date that purports to secure payment of a prohibited transfer fee.

  • Addresses concerns that private transfer fees create prohibitive costs for homeownership, reduce property marketability, discourage buyers, and depress property values.

  • Includes a sunset provision expiring June 30, 2015.

Legislative Description

Real Property; Transfer Fees

Last Action

(S) Act 169, 6/22/2010 (Gov. Msg. No. 629).

6/22/2010

Committee Referrals

Consumer Protection & Commerce2/5/2010
Water, Land, & Ocean Resources1/22/2010

Full Bill Text

No bill text available