As I have been pointing out in recent Seminars, there has been a new movement afloat to put an onerous burden on sellers of property. It is a restrictive covenant, perhaps slipped into a deed or C,C&R stating each time a property is sold, a fee is due upon sale to the original developer of the property. It is a way, developers say, to lower their fees to the original consumer by getting fees spread out over a number of years. Minnesota disagreed, and Governor Pawlenty has now signed a law making them illegal.

This should help abstractors, closers and title company employees sleep a bit better…