Skip to main content
House Bill 1541


House Bill 1541

ARCHIVE (2011)

Latest Information

 

DIGEST OF HB1541 (Updated April 26, 2011 3:04 pm - DI 84)


Transfer fee covenants. Defines "transfer fee covenant" as a declaration or covenant that: (1) purports to affect an interest in real property in Indiana; and (2) requires the payment of a transfer fee to a specified person upon a subsequent transfer of the interest in real property. Provides that a transfer fee covenant recorded in Indiana after June 30, 2011: (1) does not run with the title of the real property interest purported to be affected; and (2) is not binding or enforceable against any subsequent owner, purchaser, or mortgagee of the real property interest. Provides that any lien purporting to secure the payment of a transfer fee under a transfer fee covenant recorded in Indiana after June 30, 2011, is void and unenforceable.
Current Status:
 Law Enacted
>Latest Printing > (PDF)