"Transfer fee covenant"

Sec. 3. As used in this chapter, "transfer fee covenant" means a declaration or covenant, however denominated and regardless of whether it is recorded, that: (1) purports to affect an interest in real property located in Indiana; and (2) requires or purports to require the payment of a transfer fee to: (A) the declarant; (B) another person specified in the declaration or covenant; or (C) the successors or assigns of a person described in clause (A) or (B); upon a subsequent transfer of the interest in real property. As added by P.L.136-2011, SEC.1.