In 2010 the Federal Housing Finance Agency (FHFA) published a proposed guideline outlining issues with Private Transfer Fees. Within the proposed guidelines it was defined as:

a private transfer fee covenant is attached to real property by the owner or another private party, frequently, the property developer, and  provides for a transfer fee to be paid to an identified third party (such as the developer or its trustee) upon each resale of the property. The fee typically is stated as a percentage, such as one percent of the property’s sales price and often survives for a period of ninety-nine (99) years.

Federal Register 75-FR-49932, No. 2010-N-11
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