Legislation Prohibiting Private Transfer Fee Expected in the House

Department: Michigan Association of REALTORS

MAR-supported legislation introduced prohibiting "private transfer fees" is expected to be taken up on the House floor this week. House Bills 4227 and 4228, introduced by Representative Paul Opsommer (R-DeWitt) and Representative Bruce Rendon (R-Lake City) are a pre-emptive strike on programs that have sprung up in other states whereby a private party collects a fee every time a property is sold in a development, similar to a transfer tax. Private transfer fees serve as an encumbrance upon private property rights. These fees are an excessive restraint on the transferability of property and also prey upon homebuyers.

See full story at the MAR website

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