Missouri Revised Statutes
Chapter 442
Titles and Conveyance of Real Estate
←442.557
Section 442.558.1
442.560→
August 28, 2015
Transfer fee covenants not to run with title to real property--lien void, when.
442.558. 1. As used in this section, the following terms shall mean:
(1) "Transfer", the sale, gift, conveyance, assignment, inheritance, or
other transfer of ownership interest in real property located in this state;
(2) "Transfer fee", a fee or charge payable 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. "Transfer fee" shall not
include the following:
(a) Any consideration payable by the grantee to the grantor for the
interest in real property being transferred;
(b) Any commission payable to a licensed real estate broker for the
transfer of real property under an agreement between the broker and the
grantor or the grantee;
(c) Any interest, charges, fees, or other amounts payable by a borrower
to a lender under 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 other consideration allowed by law 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;
(3) "Transfer fee covenant", a declaration or covenant purporting to
affect real property which requires or purports to require the payment of a
transfer fee to the declarant or other person specified in the declaration or
covenant or to their successors or assigns upon a subsequent transfer of an
interest in the real property.
2. A transfer fee covenant recorded in this state on or after September
1, 2008, shall not run with the title to real property and is not binding on
or enforceable at law or in equity against any subsequent owner, purchaser,
or mortgagee of any interest in real property as an equitable servitude or
otherwise. Any lien purporting to secure the payment of a transfer fee under
a transfer fee covenant recorded in this state on or after September 1, 2008,
is void and unenforceable.
(L. 2008 S.B. 907)
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