§ 66-37-101. Short Title

This chapter shall be known and may be cited as the “Prohibition of Covenants Providing for Transfer Fees Act of 2011.”

§ 66-37-102. Chapter Definitions

As used in this chapter: “Association” means a nonprofit, mandatory membership organization comprised of owners of homes, condominiums, cooperatives, manufactured homes, or any interest in real property, created pursuant to a declaration, covenant, or other applicable law; “Transfer” means the sale, gift, grant, conveyance, assignment, inheritance, or other transfer of an interest in real property […]

§ 66-37-103. Legislative Findings

The general assembly makes the following findings: The public policy of this state favors the transferability of interests in real property free from unreasonable restraints on alienation and covenants or servitudes that do not touch and concern the property; and A transfer fee covenant violates this public policy by impairing the marketability of title to […]

§ 66-37-104. Transfer Covenant Fees

A transfer fee covenant recorded after June 10, 2011, or any lien to the extent that it purports to secure the payment of a transfer fee, is not binding on or enforceable against the affected real property or any subsequent owner, purchaser, or mortgagee of any interest in the property. Nothing in this chapter shall […]