{"id":740,"date":"2012-03-23T19:55:05","date_gmt":"2012-03-23T23:55:05","guid":{"rendered":"http:\/\/blog.tarleyrobinson.com\/?p=740"},"modified":"2012-06-09T09:00:05","modified_gmt":"2012-06-09T13:00:05","slug":"transfer-fees-paid-homeowners-associations-safe","status":"publish","type":"post","link":"https:\/\/blog.tarleyrobinson.com\/?p=740","title":{"rendered":"Transfer fees paid to homeowners\u2019 associations are safe!"},"content":{"rendered":"<p><a href=\"https:\/\/blog.tarleyrobinson.com\/wp-content\/uploads\/2010\/12\/community01.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-thumbnail wp-image-458\" title=\"HOA\" src=\"https:\/\/blog.tarleyrobinson.com\/wp-content\/uploads\/2010\/12\/community01-150x150.jpg\" alt=\"\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p>The <a href=\"http:\/\/www.fhfa.gov\/\" target=\"_self\">Federal Housing Finance Agency<\/a> (&#8220;FHFA&#8221;) has changed its proposed rule.  As you will recall, FHFA had proposed a rather sweeping rule which called into question the ability of common interest communities to collect transfer fees, capital contributions or similar one-time assessments when a property is transferred. CAI weighed in heavily on this subject matter, pointing out the <a href=\"http:\/\/www.caionline.org\/govt\/news\/Political%20HeadsUp%20Public%20Document%20Library\/CAI%20Comments%20on%20FHFA%20Proposed%20Transfer%20Fee%20Regulation.pdf\" target=\"_self\">negative effects of such a rule<\/a>. The result is that FHFA has revised the proposed rule.<\/p>\n<p><a href=\"http:\/\/www.fhfa.gov\/webfiles\/19667\/PrivTransFeeNPR020111.pdf\" target=\"_self\">The FHFA press release stated that<\/a>:<\/p>\n<p style=\"padding-left: 30px;\">FHFA has determined to propose a rule with a narrower focus. . . . In summary, the principal differences between the proposed guidance and the proposed rule are:<\/p>\n<p style=\"padding-left: 60px;\">1.  FHFA proposes to except from the rule private transfer fees that are paid to homeowners\u2019 associations and similar associations, and to tax-exempt non- profit organizations, where the fees are used for the direct benefit of the encumbered properties.<br \/>\n2.  FHFA proposes to make the rule prospective in effect, so that it applies to private transfer fee covenants created after the publication date of this proposed rule.<br \/>\n3.  FHFA allows an implementation period of 120 days for the regulated entities.<\/p>\n<p>The <a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2011\/02\/11\/AR2011021100373.html\" target=\"_self\">public participation was crucial to getting the FHFA to change its proposed rule<\/a>.  More than 4,210 comment letters were sent to the FHFA.  This included comments from <a href=\"http:\/\/www.caionline.org\/Pages\/Default.aspx\" target=\"_self\">CAI<\/a> and numerous homeowners, cooperative, and condominium associations; individuals living within such associations; community associations; and other nonprofit organizations.<\/p>\n<p><strong><span style=\"font-weight: normal;\"> <\/span><\/strong><br \/>\n<strong><span style=\"color: #990000;\">Tarley Robinson, PLC, Attorneys and Counsellors at Law<\/span><\/strong><\/p>\n<p><strong><span style=\"color: #990000;\">Williamsburg, Virginia<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/blog.tarleyrobinson.com\/wp-content\/uploads\/2010\/12\/Susan-new-photo1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-thumbnail wp-image-483\" title=\"Susan Tarley\" src=\"https:\/\/blog.tarleyrobinson.com\/wp-content\/uploads\/2010\/12\/Susan-new-photo1-150x150.jpg\" alt=\"Susan Tarley\" width=\"150\" height=\"150\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Housing Finance Agency (&#8220;FHFA&#8221;) has changed its proposed rule. As you will recall, FHFA had proposed a rather sweeping rule which called into question the ability of common interest communities to collect transfer fees, capital contributions or similar one-time assessments when a property is transferred. CAI weighed in heavily on this subject matter, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,57,75,25,141,246],"tags":[300],"_links":{"self":[{"href":"https:\/\/blog.tarleyrobinson.com\/index.php?rest_route=\/wp\/v2\/posts\/740"}],"collection":[{"href":"https:\/\/blog.tarleyrobinson.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.tarleyrobinson.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.tarleyrobinson.com\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.tarleyrobinson.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=740"}],"version-history":[{"count":7,"href":"https:\/\/blog.tarleyrobinson.com\/index.php?rest_route=\/wp\/v2\/posts\/740\/revisions"}],"predecessor-version":[{"id":1955,"href":"https:\/\/blog.tarleyrobinson.com\/index.php?rest_route=\/wp\/v2\/posts\/740\/revisions\/1955"}],"wp:attachment":[{"href":"https:\/\/blog.tarleyrobinson.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.tarleyrobinson.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.tarleyrobinson.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}