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HI SB503

Bill

Official Source

Status

Introduced

1/18/2013

Primary Sponsor

Rosalyn Baker

Click for details

Origin

Senate

2013 Regular Session

AI Summary

  • Eliminates the sunset date of Act 169, Session Laws of Hawaii 2010, to permanently prohibit private transfer fees in Hawaii
  • Defines private transfer fees as charges imposed by private parties through deed restrictions or covenants on real property transfers, including those in new housing developments
  • Finds that unregulated private transfer fees may obstruct homeownership and reduce property values
  • Notes that 36 states have banned or restricted private transfer fees as of 2011
  • Received support from the Hawaii Association of REALTORS and Hawaii Land Title Association

Legislative Description

Real Property; Private Transfer Fees

Last Action

Senate disagrees with House amendments.

4/11/2013

Committee Referrals

Judiciary and Labor2/1/2013
Commerce and Consumer Protection1/22/2013

Full Bill Text

No bill text available