Effective - 28 Aug 2008
442.558. Transfer fee covenants not to run with title to real property — lien void, when. — 1. As used in this section, the following terms shall mean:
(1) "Transfer", the sale, gift, conveyance, assignment, inheritance, or other transfer of ownership interest in real property located in this state;
(2) "Transfer fee", a fee or charge 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. "Transfer fee" shall not include the following:
(a) Any consideration payable by the grantee to the grantor for the interest in real property being transferred;
(b) Any commission payable to a licensed real estate broker for the transfer of real property under an agreement between the broker and the grantor or the grantee;
(c) Any interest, charges, fees, or other amounts payable by a borrower to a lender under 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 other consideration allowed by law 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;
(f) Any tax, fee, charge, assessment, fine, or other amount payable to or imposed by a governmental authority;
(3) "Transfer fee covenant", a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the declaration or covenant or to their successors or assigns upon a subsequent transfer of an interest in the real property.
2. A transfer fee covenant recorded in this state on or after September 1, 2008, shall not run with the title to real property and is not binding on or enforceable at law or in equity against any subsequent owner, purchaser, or mortgagee of any interest in real property as an equitable servitude or otherwise. Any lien purporting to secure the payment of a transfer fee under a transfer fee covenant recorded in this state on or after September 1, 2008, is void and unenforceable.
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(L. 2008 S.B. 907)
Structure Missouri Revised Statutes
Title XXIX - Ownership and Conveyance of Property
Chapter 442 - Titles and Conveyance of Real Estate
Section 442.010 - Definitions.
Section 442.020 - Conveyances of lands.
Section 442.025 - Conveyance to self and others to create joint estate.
Section 442.030 - Conveyance of property of spouse — covenants.
Section 442.040 - Person under eighteen years of age may join in conveyance with adult spouse.
Section 442.060 - Private or public corporations may convey real estate.
Section 442.070 - Person may convey, notwithstanding adverse possession.
Section 442.080 - Conveyances by persons under eighteen years of age binding, when.
Section 442.095 - Sections 442.090 to 442.120 applicable to whom.
Section 442.100 - Disability of minority removed to enable veterans to acquire or convey property.
Section 442.110 - Honorable discharge of veteran, evidence necessary.
Section 442.120 - Loans to underage servicemen authorized.
Section 442.135 - Descriptions of subdivided property, contents.
Section 442.140 - Execution of deeds in foreign language — translation — recording.
Section 442.145 - Personal appearance, acknowledgement by communication technology.
Section 442.150 - Proof or acknowledgment, by whom taken.
Section 442.180 - Certificate to be endorsed on conveyance.
Section 442.190 - Certificate, how made.
Section 442.200 - Identity of persons making acknowledgments, how ascertained.
Section 442.210 - Certificate of acknowledgment — contents.
Section 442.220 - Conveyances of bounty lands, how acknowledged.
Section 442.230 - Such instrument valid.
Section 442.240 - Such instrument, filed for record, to impart notice.
Section 442.250 - Copies to be read in evidence.
Section 442.260 - Proof of execution of instruments.
Section 442.270 - When proof of subscribing witness shall be taken.
Section 442.280 - What subscribing witness shall prove before certificate shall be granted.
Section 442.290 - What facts certificate of proof shall set forth.
Section 442.300 - Proof, when grantor and witnesses are dead.
Section 442.310 - Certificate of proof, when granted.
Section 442.320 - Certificate to recite evidence required by section 442.310.
Section 442.330 - Subscribing witnesses, when and how summoned to prove execution of instrument.
Section 442.340 - Remedy against persons refusing to appear and answer.
Section 442.360 - Powers of attorney, how acknowledged and proved.
Section 442.370 - When deemed revoked.
Section 442.380 - Instruments to be recorded.
Section 442.390 - Notice imparted from time of filing for record.
Section 442.400 - Not valid until recorded.
Section 442.410 - Deeds to be recorded, where record lost — fees.
Section 442.420 - "Grant, bargain and sell", how construed.
Section 442.430 - Title acquired by grantor after conveyance inures to grantee.
Section 442.440 - Conveyances to counties for their use — effect.
Section 442.450 - Conveyance to more than one — effect.
Section 442.460 - The term "heirs" not necessary to convey a fee simple estate.
Section 442.470 - Entails not allowed — the remainder in fee simple — to whom it shall pass.
Section 442.480 - Remainder to take effect on death of person without heirs — how construed.
Section 442.490 - Remainder limited to heirs of a person having a life estate — how disposed of.
Section 442.500 - Lineal and collateral warranties abolished.
Section 442.520 - A future estate, on the death of any person without heirs, how defeated.
Section 442.530 - Value of life estates — how computed.
Section 442.540 - Rule of calculation.
Section 442.555 - Rule against perpetuities, application of modified.
Section 442.558 - Transfer fee covenants not to run with title to real property — lien void, when.
Section 442.566 - Definitions.