summary
Introduced
02/25/2020
02/25/2020
In Committee
03/17/2021
03/17/2021
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
This bill would encourage purchasers of residential real property to record deeds in a timely fashion. Under the bill, a purchaser that submits a residential deed to the county for recording more than 30 days after the delivery date of the deed will be charged a late filing fee of $10 a day for each day thereafter, up to a cumulative total of $500. The bill dedicates the proceeds of these late filing fees to combatting homelessness.
AI Summary
This bill encourages timely recording of residential deeds by imposing a late filing fee of $10 per day, up to a maximum of $500, on grantees who submit a deed for recording more than 90 days after it was delivered to them. The proceeds from these late filing fees will be used to combat homelessness. The bill also requires deeds to include the delivery date of the deed to the grantee, and provides exceptions for certain situations where the delay in recording is not the grantee's fault.
Committee Categories
Budget and Finance, Housing and Urban Affairs
Sponsors (2)
Last Action
Reported out of Assembly Comm. with Amendments, 2nd Reading (on 03/17/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
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