2012 New York Consolidated Laws
RPP - Real Property
Article 15 - (470 - 476) PROHIBITION AND DISCLOSURE OF PRIVATE TRANSFER FEE OBLIGATIONS
472 - Definitions.

 
    §  472.  Definitions.  1. "Transfer" means the sale, gift, conveyance,
  assignment, inheritance, or other transfer of an ownership  interest  in
  real property located in this state.
    2.  "Private transfer fee" means a fee, charge or any portion thereof,
  required by a private transfer fee obligation and payable,  directly  or
  indirectly,  upon  the  transfer  of  an  interest  in real property, or
  payable for the right to make or accept  such  transfer,  regardless  of
  whether  the  fee  or  charge  is  a  fixed amount or is determined as a
  percentage of the value of the property, the purchase  price,  or  other
  consideration  given  for  the  transfer.  The following are not private
  transfer fees for purposes of this section:
    (a) Any consideration payable by the transferee to the transferor  for
  the   interest   in  real  property  being  transferred,  including  any
  subsequent additional consideration for  the  property  payable  by  the
  transferee  based upon any subsequent appreciation, development, or sale
  of the property, provided such additional consideration is payable on  a
  one-time  basis  only  and  the obligation to make such payment does not
  bind successors in title to the  property.  For  the  purposes  of  this
  subparagraph,  an  interest  in  real  property  may  include a separate
  mineral estate and its appurtenant surface access rights.
    (b) Any commission payable to a licensed real estate  broker  for  the
  transfer  of  real  property pursuant to an agreement between the broker
  and  the  transferor  or  the  transferee,  including   any   subsequent
  additional commission for that transfer payable by the transferor or the
  transferee  based upon any subsequent appreciation, development, or sale
  of the property.
    (c) Any interest,  charges,  fees,  or  other  amounts  payable  by  a
  borrower  to  a  lender pursuant to a loan secured by a mortgage against
  real property, including, but not limited to, any  fee  payable  to  the
  lender  for consenting to an assumption of the loan or a transfer of the
  real property subject to the mortgage, any fees or  charges  payable  to
  the  lender  for  estoppel  letters  or  certificates,  and  any  shared
  appreciation interest or profit participation or other consideration and
  payable to the lender in connection with the loan.
    (d) Any rent, reimbursement, charge, fee, or other amount payable by a
  lessee to a lessor under a lease, including, but not limited to, any fee
  payable to the lessor  for  consenting  to  an  assignment,  subletting,
  encumbrance, or transfer of the lease.
    (e)  Any  consideration payable to the holder of an option to purchase
  an interest in real property or the holder of a right of  first  refusal
  or  first  offer  to  purchase an interest in real property for waiving,
  releasing, or not exercising the option or right upon  the  transfer  of
  the property to another person.
    (f) Any tax, fee, charge, assessment, fine, or other amount payable to
  or imposed by a governmental authority.
    (g)  Any  fee,  charge, assessment, fine, or other amount payable to a
  homeowners', condominium, cooperative, mobile home, or property  owners'
  association  pursuant  to  a declaration, covenant, duly adopted by-law,
  proprietary lease or law applicable to such association, including,  but
  not  limited  to,  fees  or  charges  payable  for  estoppel  letters or
  certificates issued by the  association  or  its  authorized  agent.  No
  amount  shall be paid to a homeowners', condominium, cooperative, mobile
  home, or property owners' association for the payment to  the  declarant
  of  the condominium or the creator of a homeowners', cooperative, mobile
  home or property owners' association, or their designee.
    (h) Any fee, charge, assessment, dues, contribution, or  other  amount
  imposed  by  a  declaration  or  covenant  encumbering  a community, and
  payable to a not-for-profit or charitable organization for  the  purpose

  of   supporting   cultural,   educational,   charitable,   recreational,
  environmental, conservation, or other similar activities benefiting  the
  community that is subject to the declaration or covenant.
    (i)  Any  fee, charge, assessment, dues, contribution, or other amount
  pertaining to the purchase or transfer of a club membership relating  to
  real  property  owned  by the member, including, but not limited to, any
  amount determined by reference to the value, purchase  price,  or  other
  consideration given for the transfer of the real property.
    (j)  Any  fee,  charge  or  assessment  payable by the transferee to a
  corporation or company formed pursuant to the  private  housing  finance
  law.
    (k)  Any  fee,  charge  or  assessment  payable by the transferee to a
  corporation or company that has received a loan or subsidy  pursuant  to
  the private housing finance law or general municipal law.
    (l) Any amounts payable to a government entity.
    3. "Private transfer fee obligation" means an obligation arising under
  a  declaration  or covenant recorded against the title to real property,
  or under any other contractual agreement  or  promise,  whether  or  not
  recorded,  that requires or purports to require the payment of a private
  transfer  fee  to  the  declarant  or  other  person  specified  in  the
  declaration,  covenant  or agreement, or to their successors or assigns,
  upon a subsequent transfer of an interest in the real property.