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.

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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.