Bill > H0645

This bill establishes a system for verifying identities in real property transactions to enhance security and potentially speed up the recording process. It creates a registry of "secure real property transactors," which are individuals or entities like attorneys, real estate agents, title insurers, or mortgage lenders who use an approved identity verification platform to confirm the identity of the person selling property (the grantor). Town clerks will be required to check if parties involved in a property transaction are registered as secure transactors or have used an approved verification platform; if so, their documents will be processed more quickly. The Secretary of State will maintain a list of approved verification platforms, setting standards for identity document verification, data privacy, and security. Additionally, real estate brokers, salespersons, and attorneys representing sellers will be required to take reasonable steps to verify their clients' identities, with attorneys needing to provide an affidavit confirming they have done so, which will be recorded with the property documents. This new system is set to take effect on January 1, 2027.