SB 11-234 Transfer fee ban
It would be desirable if someone could explain who is exempt from transfer fees. Our POA started charging a transfer fee and status letter fee in 2023. We do not have a tranfer fee covenant or any mention of transfer fees in our POA documents. These fees showed up in real estate closing transactions with no input from the membership. I believe that the board should have given the members the right to decide whether the buyer/seller pays or to split the cost and decide how much these fees should be if any. 33.3-317(1)(h.5) requires that homeowners associations disclose this information, correct? There are no meeting minutes even discussing these fees. We do not have a PM and we all own our houses. The board took it upon themselves to do this.
Thank you for visiting the community engagement tool for the HOA Homeowners’ Rights Task Force.
Pursuant to HB23-1105, this project has now concluded. On behalf of the Department of Regulatory Agencies and the Division of Real Estate, thank you for your interest and participation.