Texas Bans Private Transfer Fees

Eric OKeefe — Tue, 28 Jun 2011 17:51:35 +0000

Gov. Rick Perry signed into law legislation that bans private transfer fees to developers. With Perry’s signature, Texas joins 33 other states in banning or restricting private transfer fees.

A transfer fee is a percentage of a property’s sales price – typically 1 percent – that is remitted to a property’s original developer each time it sells.

Although not common in Texas, transfer fees are seen as a means to improve cash flow in down markets. The bill passed unanimously in the Texas Senate and 142-1 in the Texas House. Under the new legislation, new private transfer fees will not be allowed. Developers who have existing fees on properties must file a notice of the obligation in county property records by Jan. 31, 2012. Unless notice is filed and updated every three years, existing transfer fees will be voided.

Mexico Opposes Ethanol

Eric OKeefe — Mon, 30 Jun 2008 07:00:41 +0000

As we’ve seen over the last few months, skyrocketing commodity prices are pushing land values to record levels. They are also squeezing cattlemen and other producers who rely on corn and other grains to fatten livestock and poultry. One of the loudest voices protesting this trend has been Texas Gov. Rick Perry, who petitioned the EPA to grant a 50 percent waiver on the 9 billion gallon corn-based Renewable Fuel Standard. Now another vocal opponent of ethanol has emerged: south of the border.

Mexico is clearly feeling the heat. Last week Mexico Agriculture Secretary Alberto Cardenas called for ethanol producing countries to reduce production of grains for alternative fuels. (The U.S. is the world’s leading ethanol producer with Brazil a close second.)

According to the AP, Sec. Cardenas blames ethanol for bankrupting many of his country’s cattle and poultry farmers as well as causing food prices to hit record highs. The government has responded by freezing prices on more than 150 food products.

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Texas Bans Private Transfer Fees

Mexico Opposes Ethanol