A New Real Estate Cost to Watch For: Developer's Private Transfer Fee. 03.09.10.

The Washington Post reports on developers’ new and ingenious real estate money machine--every time a house sells during the next 99 years, 1 percent of the price goes back to the original developer or is shared among investor partners. In Mississippi, Rep. Greg Snowden has introduced HB 886 entitled An Act To Prohibit The Payment Of A Fee To A Person Imposing Certain Covenants On Future Conveyances Of Real Property; And For Related Purposes. As of today’s post, the bill is still alive. 03.09.10.