Staff Analysis of the Legislation
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This bill prohibits fees found in restrictions or covenants running with the land related to subsequent sales or transfers of the property. It would allow such fees when they are paid to certain property owners' associations or the Public Service Commission. Certain conveyances are exempt from paying these fees, such as conveyance by gift, devise, nonjudicial or judicial foreclosure, deed in lieu of foreclosure, court order or operation of law. |