Private transfer fee covenant
Private transfer fee covenant means a covenant that:
(1) Purports to run with the land or to bind current owners of, and successors in title to, such real property; and
(2) Obligates a transferee or transferor of all or part of the property to pay a private transfer fee upon transfer of an interest in all or part of the property, or in consideration for permitting such transfer.
12 CFR § 1228.1
For the purposes of this part, the following definitions apply: