§ 471 — Intent

§ 471. Intent. The legislature finds and declares that the public\npolicy of this state favors the marketability of real property and the\ntransferability of interests in real property free of title defects or\nunreasonable restraints on alienation. The legislature further finds and\ndeclares that private transfer fee obligations violate this public\npolicy by impairing the marketability and transferability of real\nproperty and by constituting an unreasonable restraint on alienation\nregardless of the duration of the obligation to pay a private transfer\nfee, the amount of a private transfer fee, or the method by which any\nprivate transfer fee is created or imposed. Thus, the legislature finds\nand declares that a private transfer fee obligation shall not run with\nthe title to property or otherwise bind subsequent owners of property\nunder any common law or equitable principle.\n