On December 13, New Jersey became the 19th state to ban private transfer fees. New Jersey’s ban on private transfer fees contains a carve out exception for transfer fees paid to homeowner associations, cooperatives, and charitable organizations. In addition, New Jersey’s ban on private transfer fees does not apply to existing covenants established prior to the law. New Jersey’s law banning private transfer fees comes ahead of FHFA’s anticipation regulation on transfer fees.
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