HR 6332 · 111th Congress 2009โ€“2011, ended

Homebuyer Enhanced Fee Disclosure Act of 2010

Latest action · Sep 29, 2010 Referred to the House Committee on Financial Services.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedSep 29, 2010
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Homebuyer Enhanced Fee Disclosure Act of 2010 - Deems a transfer fee covenant recorded on or after the date of the enactment of this Act as void and unenforceable unless, at the time the document containing the covenant is submitted for recording, a notice described in this Act is contemporaneously submitted for recording in the office of the applicable county recorder. Requires such notice to include statements containing owner names, a legal description of the affected property, amounts constituting the transfer fee to be paid, the method and manner of payment, dollar-cost examples in the case of residential property, and the date or circumstances under which the covenant expires (if applicable).

Provides a presumption of validity of a transfer fee covenant that imposes a fee of not more than 1 percent of the gross sales price for the affected property, is effective for a term of not more than 99 years, and complies with the notice requirements of this Act.

Defines a "transfer fee covenant" as a covenant, restriction, or agreement filed with the office of the applicable county recorder that: (1) affects real property; and (2) obligates a future buyer or seller of the affected real property (other than a person who is a party to such a document) to pay a fee, charge, or payment imposed by the document and required to be paid in connection with or as a result of a transfer of title to the property.

Cosponsors 1

Members who signed on, in the order they did. All signed on Nov 29, 2010.

SeatCosponsorSigned on
R-ALMike RogersNov 29, 2010

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseFinancial Services Committee
Referred Sep 29, 2010

Actions 2

Everything that happened, newest first.

  1. Sep 29, 2010Introduced in House
  2. Sep 29, 2010Referred to the House Committee on Financial Services.

Titles 2

Every title it has carried, official and short, at each stage.

Official Title as Introduced
To enhance disclosure of private transfer fees in real estate transactions.
Short Titles as Introduced
Homebuyer Enhanced Fee Disclosure Act of 2010

Subjects

Assigned by the Library of Congress. Policy area: Housing and Community Development.

Text 1

Each version as it was printed, newest first.

  1. Sep 29, 2010Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.