Georgia may soon be the newest state to adopt legislation regarding transfer fees that are payable to third parties (such as developers, community associations, and nonprofit foundations). HB 129 has been adopted by the Georgia House of Representatives and has crossed over to the Georgia Senate for consideration.
This particular iteration, as approved by the Georgia House of Representatives, permits transfer fees payable to condominium associations, associations that are subject to the Georgia Property Owners Association Act, and associations formed for the purpose of acting as a property owners’ association (as described in the bill), but otherwise prohibits all other transfer fees.
Related Articles
- House completes active Crossover Day (ajc.com)
- FHFA Announces Transfer Fee Revised Rule (andersentatecarr.wordpress.com)
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