deltadawn

buyer beware - Hidden transfer fees tied to real estate; payout lasts 99 years

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Interesting idea. A private sector real estate transfer tax that runs with the land. There are all kinds of covenants and easements that are similar in nature that go on forever. For instance, there are covenants that last forever that require homeowner association payments.

How this doesn't come up at closing is beyond me though. Any deed search should discover this and put everyone on notice prior to purchase. If it doesn't, someone is either liable for the payment or it is void. Did the title agent not do their job??

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