New Jersey § 46:3-29

§ 46:3-29.

As used in P.L.2010, c. 102 ( C.46:3-28 et seq. ): “ Transfer ” means the sale, gift, conveyance, assignment, inheritance, or other transfer of

an ownership interest in real property located in the State of New Jersey. “ Private transfer fee ” means a fee or charge required by a private transfer fee obligation and payable

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 P.L.2010, c. 102 ( C.46:3-28 et seq. ): a. (1) Any consideration payable by the grantee to the grantor for the interest in

real property being transferred, including any subsequent additional consideration

for the property payable by the grantee based upon any subsequent appreciation, development,

or sale of the property, provided such additional consideration is payable on a one-time

basis only and obligation to make such payment does not bind successors in title to

the property. For the purposes of this subsection, an interest in real property may include a

separate mineral estate and its appurtenant surface access rights. (2) Any subsequent additional consideration payable to the grantor of an interest

in unimproved real property by the first successor-in-interest to the original grantee,

provided that the additional consideration is payable on a one-time basis only and

follows the construction of an improvement on the property. 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 grantor or the grantee,

including any subsequent additional commission for that transfer payable by the grantor

or the grantee 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, or any consideration

payable by the holder of an option to the property owner necessary to keep the option

in force. 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, private residential leasehold community, or property owners'

association pursuant to a declaration or covenant authorized in a master deed or bylaws

including, but not limited to, fees or charges payable for estoppel letters or certificates

issued by the association or its authorized agent. h. Any fee, charge, assessment, dues, contribution, or other amount imposed by a declaration

or covenant encumbering a community, and payable to a nonprofit 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. “ Private transfer fee obligation ” means a declaration or covenant recorded against the title to real property, or

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, obligation or agreement, or to their successors

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