Bill > A1737

Introduced Session

This bill prohibits any seller of real estate from entering into a contract for the sale of real estate that obliges the purchaser to pay the realty transfer fee statutorily imposed on the seller. For any violation of this prohibition a buyer would have a right to bring a civil action to require the seller to pay to the buyer the amount of realty transfer fee paid by the buyer plus $1,000 and the amount of reasonable legal expenses incurred by the buyer. The statutes unambiguously assign the liability for payment of the realty transfer fee to the seller of real estate. Nonetheless, many contracts for the sale of real estate stipulate that the purchaser pay the fee. By explicitly prohibiting this transfer of liability to purchasers, the bill disavows the practice and reaffirms the intent of the existing law that the liability for payment rests exclusively with the seller.

AI Summary

Committee Categories

Brian Rumpf (R)*, 

Introduced, Referred to Assembly Community Development and Women's Affairs Committee (on 01/09/2024)

Official Document