An Act authorizing the town of Wellfleet to establish a real estate transfer fee

HD 4362 authorizes the Town of Wellfleet to impose a 1% real estate transfer fee on both buyers and sellers for property transfers within the town. The fee is collected at closing, with the first $50,000 annually deposited into the town's Capital Improvement Stabilization Fund and remaining funds directed to the Wellfleet Affordable Housing Trust. Key exemptions include first-time homebuyers (with a lien requirement), government transfers, family transfers, charitable organizations, and sales under $100. The bill requires sellers and buyers to pay the fee regardless of private agreements, mandates a certificate of payment for property records, and requires annual reporting on fee collections and housing program funding. This directly affects all residential and commercial property buyers and sellers in Wellfleet.