New York Firm's Property Transfer Fee Plan Stirs Controversy

"New York-based Freehold Capital Partners wants developers across the country to attach transfer fee covenants to properties allowing the builder and Freehold to reap profits for decades after a property is sold. The covenants typically require future home sellers to pay 1% of the sales price to the home builder or other third parties each time the house is resold for 99 years."