Monthly Archives: June 2011

Private Transfer Fees Now Prohibited in PA

“Pennsylvania has just become the 28th state to ban private transfer fees. Gov. Tom Corbett today signed HB 442 into law, becoming Act 8 of 2011.

Private transfer fees are part of a covenant attached to a property deed that forces the seller to pay 1 percent of the purchase price to a private third-party entity every time the property sells over the next 99 years. These fees cost unsuspecting homeowners thousands of dollars in additional closing costs.”

Quoted from:

http://www.parjustlisted.com/archives/8065#utm_source=feed&utm_medium=feed&utm_campaign=feed