[Rhodes22-list] brainstorming

[Peter Thorn]

Stan,

Recently the Journal of Light Construction published an article about a California builder who imposed a private real estate transfer tax on the buyers of its homes.  The new buyers pays the tax and all the proceeds of this tax go to assist the homeless in the area where the builder operates.  The tax applies to the first buyer and all subsequent buyers of each home enrolled in the builder's private transfer tax program, and is enforceable through a deed restriction on the property.

The tax was a pretty small percentage amount, based the home's sales price, that initially amounted to about $50 per transaction.   However, as the price of the homes increased over time and as they were subsequently sold and resold (average about once every 5 years),  quite a lot of money was raised -- this is high volume builder.

I am more familiar with real property financing and not so familar with personal property financing, but isn't there a way to "fixture file" to encumber the title of personal property?  If something similar could be done and all the proceeds of a reasonable Rhodes 22 transfer tax applied toward the "marketing and promotion of the Rhodes 22", I would support it.   For example, you could collect all the proceeds and apply it toward boat show expenses, etc.   Seems fair to me.

Maybe there is a property lawyer lurking on this list who could expound on this theory.

PT