As many of you know, I have been blogging about private transfer fees for more than three years.  I find it fundamentally unfair that developers would attempt to bind future owners, whose grandparents haven't even been born yet, to pay a one percent fee for which they receive no corresponding benefit.

Fortunately, the Ohio legislature passed a bill to ban the practice and the governor signed it this week.  Now there is no doubt that these are unenforceable in Ohio.  The Columbus Dispatch ran an article on the new law, in which I was quoted - Ohio outlaws real-estate transfer fee that would have benefited developers.

For more information, please read the following blogs:

• Banning Transfer Fee Covenants in Ohio
• Freehold Capital Partners Testifies Before Ohio Senate Committee
• Ohio Senate Votes Unanimously to Ban Private Transfer Fee Covenants

Best,
Robert A. Franco
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