Nebraska Statutes 76-3107. Private transfer fee obligation,defined
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Private transfer fee obligation means an obligation arising under a declaration or covenant recorded against the title to real property, or under any other contractual agreement or promise, whether or not recorded, that requires or purports to require the payment of a private transfer fee upon a subsequent transfer of an interest in the real property.
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Terms Used In Nebraska Statutes 76-3107
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Private transfer fee: means 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. See Nebraska Statutes 76-3106
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Transfer: means sale, gift, conveyance, assignment, inheritance, or other transfer of an ownership interest in real property located in this state. See Nebraska Statutes 76-3108