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HI HB998

Bill

Official Source

Status

Passed

4/24/2013

Primary Sponsor

Angus McKelvey

Click for details

Origin

House of Representatives

2013 Regular Session

AI Summary

  • Permanently prohibits private transfer fees by eliminating the sunset date of Act 169, Session Laws of Hawaii 2010
  • Private transfer fees are fees imposed by private parties through deed restrictions or covenants on transferees of real property in connection with future conveyances
  • Protects homeownership and property values by preventing unregulated use of private transfer fees that could create barriers to property ownership
  • As of 2011, thirty-six states had either banned or placed conditions on private transfer fees, supporting Hawaii's permanent prohibition
  • Received support from the Hawaii Association of REALTORS

Legislative Description

Real Property; Private Transfer Fees

Last Action

Act 042, 4/23/2013 (Gov. Msg. No. 1142).

4/24/2013

Committee Referrals

Judiciary and Labor3/14/2013
Commerce and Consumer Protection3/5/2013
Consumer Protection & Commerce2/6/2013
Water & Land1/28/2013

Full Bill Text

No bill text available