MN HF3338

Amends Minnesota Statutes section 513.73, subdivision 3, to clarify the definition of "private transfer fee" and specify what fees are excluded from this definition.

Excludes consideration payable between grantor and grantee for real property interest, including one-time additional consideration based on subsequent appreciation, development, or sale, provided the obligation does not bind successors in title.

Excludes real estate broker commissions under a declaration, covenant, or contractual agreement that: (1) can be performed within one year, and (2) do not run with the land, allow assignment without notice/consent, create liens or encumbrances, or renew automatically.

Excludes mortgage-related fees and charges, lease payments and assignments, options and rights of first refusal, contract for deed payments, governmental fees and assessments, homeowner and property owner association fees, club membership fees, and mortgages granted to sellers or brokers.