Are your clients prepared for the increase in recording fees January 1?
Although section 27388.1 of the government code specifies that the additional fees do not apply to those instruments recorded in connection to a conveyance subject to transfer tax (sale transactions), the additional fees will affect many refinance transactions, assignments, reconveyances and most instruments recorded outside the scope of an insured transaction.
As a result of Senate Bill 2 signed by the Governor and Filed with the Secretary of State September 29, 2017. Additional recording fees of $75 per instrument or up to $225 per transaction will be applied to the following documents :
- Documents recorded in many refinance or loan transactions.
- Certain documents recorded outside of an escrow.
The following are instruments specifically mentioned in Section 27388.1:
- Deed, Grant Deed, Quit Claim
- Deed of Trust
- Reconveyance
- Assignment of Deed of Deed of Trust
- Request for Notice of Default
- Notice of Default
- Abstract of Judgement
- Subordination Agreement
- Declaration and Abandonment of Homestead
- Release or Discharge
- Easement
- Notice of Trustee Sale
- Notice of Completion
- UCC Financing Statement
- Mechanic’s Lien
- Maps
- Covenants, Conditions and Restrictions
Stay tuned for more updates on how the County Recorders plan to implement these changes.