N.Y. Real Property Law § 472: Definitions

§ 472. Definitions. 1. "Transfer" means the sale, gift, conveyance,

assignment, inheritance, or other transfer of an ownership interest in

real property located in this state.

2. "Private transfer fee" means a fee, charge or any portion thereof,

required by a private transfer fee obligation and payable, directly or

indirectly, 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. The following are not private

transfer fees for purposes of this section:

(a) Any consideration payable by the transferee to the transferor for

the interest in real property being transferred, including any

subsequent additional consideration for the property payable by the

transferee based upon any subsequent appreciation, development, or sale

of the property, provided such additional consideration is payable on a

one-time basis only and the obligation to make such payment does not

bind successors in title to the property. For the purposes of this

subparagraph, an interest in real property may include a separate

mineral estate and its appurtenant surface access rights.

(b) Any commission payable to a licensed real estate broker for the

transfer of real property pursuant to an agreement between the broker

and the transferor or the transferee, including any subsequent

additional commission for that transfer payable by the transferor or the

transferee based upon any subsequent appreciation, development, or sale

of the property.

(c) Any interest, charges, fees, or other amounts payable by a

borrower to a lender pursuant to 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 shared

appreciation interest or profit participation or other consideration 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.

(g) Any fee, charge, assessment, fine, or other amount payable to a

homeowners', condominium, cooperative, mobile home, or property owners'

association pursuant to a declaration, covenant, duly adopted by-law,

proprietary lease or law applicable to such association, including, but

not limited to, fees or charges payable for estoppel letters or

certificates issued by the association or its authorized agent. No

amount shall be paid to a homeowners', condominium, cooperative, mobile

home, or property owners' association for the payment to the declarant

of the condominium or the creator of a homeowners', cooperative, mobile

home or property owners' association, or their designee.

(h) Any fee, charge, assessment, dues, contribution, or other amount

imposed by a declaration or covenant encumbering a community, and

payable to a not-for-profit or charitable organization for the purpose

of supporting cultural, educational, charitable, recreational,

environmental, conservation, or other similar activities benefiting the

community that is subject to the declaration or covenant.

(i) Any fee, charge, assessment, dues, contribution, or other amount

pertaining to the purchase or transfer of a club membership relating to

real property owned by the member, including, but not limited to, any

amount determined by reference to the value, purchase price, or other

consideration given for the transfer of the real property.

(j) Any fee, charge or assessment payable by the transferee to a

corporation or company formed pursuant to the private housing finance

law.

(k) Any fee, charge or assessment payable by the transferee to a

corporation or company that has received a loan or subsidy pursuant to

the private housing finance law or general municipal law.

(l) Any amounts payable to a government entity.

3. "Private transfer fee obligation" means an obligation arising under

a declaration or covenant recorded against the title to real property,

or under any other contractual agreement or promise, whether or not

recorded, that requires or purports to require the payment of a private

transfer fee to the declarant or other person specified in the

declaration, covenant or agreement, or to their successors or assigns,

upon a subsequent transfer of an interest in the real property.