70-17-211. Findings -- purpose. The legislature finds and declares that transfer fee covenants, as defined in 70-17-212, impair the marketability and transferability of real property by constituting an unreasonable restraint on alienation regardless of the duration of the covenants or the amount of the transfer fees. The purpose of 70-17-212 and this section is to prohibit transfer fee covenants from running with the title to real property or binding subsequent owners of the property under common law or equitable principles.

     History: En. Sec. 1, Ch. 259, L. 2011.