{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-350","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-350","heading":"Definitions - Legislative findings - Recorded transfer","body":"fees.\n\nA. As used in this section:\n\n1. “Association” means a nonprofit mandatory membership\n\norganization comprised of owners of homes, condominiums,\n\ncooperatives, manufactured homes, or any interest in real property,\n\ncreated pursuant to a declaration, covenant, or other applicable\n\nlaw;\n\n2. “Transfer” means the sale, gift, grant, conveyance,\n\nassignment, inheritance, or other transfer of an interest in real\n\nproperty located in this state;\n\n3. “Transfer fee” means a fee or charge imposed by a transfer\n\nfee covenant, but shall not include any tax, assessment, fee or\n\ncharge imposed by a governmental authority pursuant to applicable\n\nlaws, ordinances, or regulations; and\n\n4. “Transfer fee covenant” means a provision in a document,\n\nwhether recorded or not and however denominated, which purports to\n\nrun with the land or bind current owners, purchasers or successors\n\nin title to specified real property located in this state, and which\n\nobligates a transferee or transferor of all or part of the property\n\nor any interest thereon to pay a fee or charge to a third person or\n\nentity upon transfer of an interest in all or part of the property,\n\nor in consideration for permitting any such transfer. The term\n\n“transfer fee covenant” shall not include:\n\na. any provision of a purchase contract, option,\n\nmortgage, security agreement, real property listing\n\nagreement, or other agreement that obligates one party\n\nto the agreement to pay the other party as full or\n\npartial consideration for the agreement or for a\n\nwaiver of rights under the agreement if the amount to\n\nbe paid is:\n\n(1) a loan assumption fee or similar fee charged by a\n\nlender that holds a mortgage on the property, and\n\n(2) a fee or commission paid to a licensed real\n\nestate broker for brokerage services rendered in\n\nconnection with the transfer of the property for\n\nwhich the fee or commission is paid,\n\nb. any provision in a deed, memorandum or other document\n\nrecorded for the purpose of providing record notice of\n\nan agreement prescribed in subparagraph a of paragraph\n\n4 of subsection A of this section,\n\nc. any rent, reimbursement, charge, fee or other amount\n\npayable by a lessee to a lessor under a lease,\n\nincluding any fee payable to the lessor for consenting\n\nto an assignment, sublease, encumbrance or transfer of\n\nthe lease,\n\nd. any consideration payable to the holder of an option\n\nto purchase an interest in the real property or to the\n\nholder of a right of first refusal or first offer to\n\npurchase an interest in real property and paid for\n\nwaiving, releasing or not exercising the option or\n\nright on transfer of the property to another person,\n\nprovided that the payment is on a one-time basis upon\n\nthe next transfer, and once paid shall not bind\n\nsuccessors in title to the property,\n\ne. any fee, charge, assessment, dues, contribution or\n\nother amount relating to the purchase or transfer of a\n\nclub membership related to the real property owner by\n\nthe transferor,\n\nf. any provision of a document requiring payment of a fee\n\nor charge to an association comprised of owners of\n\nproperties described therein to be used exclusively\n\nfor purposes authorized in the document, as long as no\n\nportion of the fee is required to be passed through to\n\na third party or entity designated or identifiable by\n\ndescription in the document or another document\n\nreferenced therein, and\n\ng. any fee that is charged as a typical real estate\n\nclosing cost, including but not limited to escrow\n\nfees, settlement fees, abstracting fees, legal fees or\n\ntitle insurance premiums.\n\nB. The Legislature makes the following findings:\n\n1. The public policy of this state favors the transferability\n\nof interest in real property free from unreasonable restraints on\n\nalienation and covenants or servitudes that do not touch and concern\n\nthe property; and\n\n2. A transfer fee covenant violates this public policy by\ntlement fees, abstracting fees, legal fees or\n\ntitle insurance premiums.\n\nB. The Legislature makes the following findings:\n\n1. The public policy of this state favors the transferability\n\nof interest in real property free from unreasonable restraints on\n\nalienation and covenants or servitudes that do not touch and concern\n\nthe property; and\n\n2. A transfer fee covenant violates this public policy by\n\nimpairing the marketability of title to the affected real property\n\nand constitutes an unreasonable restraint on alienation, regardless\n\nof the duration of the covenant or the amount of the transfer fee\n\nset forth in the covenant.\n\nC. A transfer fee recorded, filed or entered into in this state\n\non or after the effective date of this section does not run with the\n\ntitle to real property and is not binding on or enforceable at law\n\nor in equity against any owner, subsequent owner, purchaser or\n\nmortgagee of any interest in real property as an equitable\n\nservitude, personal obligation or otherwise. Any private transfer\n\nfee obligation that is recorded, filed or entered into in this state\n\non or after the effective date of this section is void and\n\nunenforceable.\n\nD. Nothing in this section shall imply that a transfer fee\n\ncovenant recorded prior to the effective date of this section is\n\nvalid or enforceable.","path":["OK Code","Title 60"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os60.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"65be0ca145c78c76a3dd1eabf757303ba15a20da465cd91b32794459b5930910","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-35","next":"us-ok/okla.-stat.-tit.-60-60-36"},"notice":"GroundRules: Original legal text. Not legal advice."}