47-33-02. Prohibition on private transfer fee obligation

47-33-02. Prohibition on private transfer fee obligation A private transfer fee obligation recorded or entered in this state on or after August 1, 2011, does not run with the title to real property and is not binding on or enforceable at law or in equity against any subsequent owner, purchaser, or mortgagee of any interest in real property as an equitable servitude or otherwise. Any private transfer fee obligation that is recorded or entered in this state on or after August 1, 2011, is void and unenforceable. This section does not mean that a private transfer fee obligation recorded or entered in this state before August 1, 2011, is presumed valid and enforceable.