N.Y. Real Property Law § 471: Intent

§ 471. Intent. The legislature finds and declares that the public

policy of this state favors the marketability of real property and the

transferability of interests in real property free of title defects or

unreasonable restraints on alienation. The legislature further finds and

declares that private transfer fee obligations violate this public

policy by impairing the marketability and transferability of real

property and by constituting an unreasonable restraint on alienation

regardless of the duration of the obligation to pay a private transfer

fee, the amount of a private transfer fee, or the method by which any

private transfer fee is created or imposed. Thus, the legislature finds

and declares that a private transfer fee obligation shall not run with

the title to property or otherwise bind subsequent owners of property

under any common law or equitable principle.