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.
Indiana Legal Code