{"data":{"id":"us-ky/krs-382.792","jurisdiction":"us-ky","citation":"KRS 382.792","heading":"Definitions for KRS 382.792 to 382.796.","body":"As used in KRS 382.792 to 382.796:\n(1) \"Payee\" means the person or entity who claims the right to receive or collect a\nprivate transfer fee payable under a private transfer obligation;\n(2) \"Private transfer fee\" means a fee or charge payable upon the transfer of an interest\nin real property, or payable for the right to make or accept the transfer, regardless of\nwhether the fee or charge is a fixed amount or is stated as a percentage of the value\nof the property, the purchase price, or other consideration given for the transfer. A\nprivate transfer fee shall not include:\n(a) Any consideration payable by the grantee to the grantor for the interest in real\nproperty being transferred, including any subsequent additional consideration\nfor the property payable by the grantee based upon any subsequen t\nappreciation, development, or sale of the property if such additional\nconsideration is payable on a one (1) time basis only and the obligation to\nmake such payment does not bind successors in title to the property. For the\npurposes of this paragraph, an interest in real property may include a separate\nmineral estate and its appurtenant surface access rights;\n(b) Any commission payable to a licensed real estate broker for the transfer of real\nproperty pursuant to an agreement between the broker and the gra ntor or the\ngrantee, including but not limited to any subsequent additional commission\nfor that transfer payable by the grantor or the grantee based upon any\nsubsequent appreciation, development, or sale of the property;\n(c) Any interest, charges, fees, or other amounts payable by a borrower to a lender\npursuant to a loan secured by a mortgage against real property, including but\nnot limited to any fee payable to the lender for consenting to an assumption of\nthe loan or a transfer of the real property subje ct to the mortgage, any fees or\ncharges payable to the lender for estoppel letters or certificates, and any shared\nappreciation interest or profit participation or other consideration and payable\nto the lender in connection with the loan;\n(d) Any rent, reimbursement, charge, fee, or other amount payable by a lessee to a\nlessor under a lease, including but not limited to any fee payable to the lessor\nfor consenting to an assignment, subletting, encumbrance, or transfer of the\nlease;\n(e) Any consideration payable to the holder of an option to purchase an interest in\nreal property or the holder of a right of first refusal or first offer to purchase an\ninterest in real property for waiving, releasing, or not exercising the option or\nright upon the transfer of the real property to another person;\n(f) Any tax, fee, charge, assessment, fine, or other amount payable to or imposed\nby a governmental authority;\n(g) Any fee, charge, assessment, dues, fine, contribution, or other amount payable\nto a homeowners', condomini um, cooperative, mobile home, or property\nowners' association pursuant to a declaration or covenant or law applicable to\nsuch association, including but not limited to fees or charges payable for\nestoppel letters or certificates issued by the association or its authorized agent;\n(h) Any fee, charge, assessment, dues, fine, contribution, or other amount\nimposed by a declaration or covenant encumbering real property, and payable\nsolely to a nonprofit or charitable organization for the purpose of supporting\ncultural, educational, charitable, recreational, environmental, conservation, or\nother similar activities benefiting the real property subject to the declaration or\ncovenant or the community in which the real property is located; and\n(i) Any fee, charge, ass essment, dues, fine, contribution, or other amount\npertaining solely to the purchase or transfer of a club membership relating to\nreal property owned by the member, including but not limited to any amount\ndetermined by reference to the value, purchaser pri ce, or other consideration\ngiven for the transfer of the real property;\n(3) \"Private transfer fee obligation\" means an obligation arising under a declaration or\ncovenant recorded against the title to real property or under any other contractual\nagreement or promise, whether or not recorded, that requires or purports to require\nthe payment of a private transfer fee upon a subsequent transfer of an interest in real\nproperty; and\n(4) \"Transfer\" means the sale, gift, conveyance, assignment, inheritance, or other\ntransfer of an ownership interest in real property.","path":["KRS Chapter 382"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40066","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:13Z","sha256":"fb3a3c99f1cdda80d9b69b618924b1074cd2403e2974e3becc511a9f23ea7c94","source_id":"us-ky","stale":false,"prev":"us-ky/krs-382.790","next":"us-ky/krs-382.794"},"notice":"GroundRules: Original legal text. Not legal advice."}