News Desk

Texas Bans Private Transfer Fees

Texas Governor Rick Perry signed into law legislation that bans the payment of private transfer fees to developers. With Perry’s signature, Texas joins 33 other states in banning or restricting private transfer fees.

A transfer fee is a percentage of a property’s sales price — typically 1 percent — that is remitted to a property’s original developer each time it sells.

Although not common in Texas, transfer fees are seen as a means to improve cash flow in down markets. The bill passed unanimously in the Texas Senate and 142-1 in the Texas House. Under the new legislation, new private transfer fees will not be allowed. Developers who have existing fees on properties must file a notice of the obligation in county property records by January 31, 2012. Unless notice is filed and updated every three years, existing transfer fees will be voided.


News Desk

Oregon's Columbia River Wetlands Restoration Project

Over 70 years ago, a dike was built …

News Desk

The Land Report Top Ten: Fall 2015

The aggregate value of the nation’s leading listings? …

Print & Gift
Subscriptions Available
Please sign me up to receive breaking news and updates from The Land Report: