SECTION 1. There is hereby imposed a real estate transfer fee of up to 3% (three percent) of the purchase price exceeding $1 (the exemption amount) upon the transfer of any real property interest in any real property situated in the Town of Eastham. The fee and exemption amount may be amended by a 2/3rds vote of an Annual or Special Town Meeting. Said fee shall be the liability of the purchaser of such property interest, and any agreement between the purchaser and the seller or any other person with reference to the allocation of the responsibility for bearing said fee shall not affect such liability of the seller. The fee shall be paid to the Town of Eastham. The funds collected in each fiscal year shall be apportioned and deposited into the Town's Affordable Housing Trust Fund and/or Wastewater Stabilization Fund as determined by the Select Board from time to time.

SECTION 2. The following transfers of real property interests shall be exempt from the real estate transfer fee:

A.First time homebuyers who live in the home for at least 5 years. A lien shall accompany the deed stating that "There is running with the land a lien equal to the amount of fee exempted, plus accumulated interest and penalties until such time as all conditions of this subsection are met."

B.Transfers to or from the government of the United States, the Commonwealth, the Town of Eastham and any of their instrumentalities, agencies or subdivisions, such as the Eastham Affordable Housing Trust.

C.Transfers made without additional consideration to confirm, correct, modify or supplement a transfer previously made.

D.Transfers of convenience with consideration under $100 which include: name change, into trusts, out of trust, etc.

E.Transfers by operation of law without actual consideration, including but not limited to transfers resulting from a court order or decree

F.Transfers to any charitable organization as defined in Clause 3 of Section 5 of Chapter 59 of the General Laws or any religious organization providing that the real property interests so transferred will be held solely for public charitable or religious purposes.

G.Transfers between marriage partners, parents and children, grandchildren, stepparents and stepchildren, brothers and sisters; and

H.Transfers of any unit subject to a year-round housing, or affordable housing, deed restriction approved by the Executive Office of Housing and Livable Communities, MassHousing, the Town of Eastham, or their successors.

SECTION 3.

The Town may, by bylaw, adopt additional requirements, exemptions and regulations to implement and enforce the provisions of this act, to be consistent with this act. The Town may not, by bylaw or otherwise, eliminate or reduce any exemption set forth in this act.

A.The fee shall be paid to the Town of Eastham, and the Town shall have such remedies to collect the fee as provided by law with respect to the collection of real property taxes.

B.The fee imposed shall be due at the time of the transfer of real property interest. C. The buyer shall pay interest on any unpaid amount of the fee at the rate the Town collects on unpaid real estate taxes.

D.The Town shall notify a buyer by registered or certified mail of any failure to discharge the amount in full of fee due.

E.All fees and interest required to be paid under this Act shall constitute a personal debt of the buyer and may be recovered in an action of contract.

SECTION 4. This Act shall take effect ninety (90) days following the date of passage.

By the Select Board