AB 292

Under current law, the register of deeds may not record any document unless

it complies with certain formatting requirements. Among these is a requirement

that the bottom and side margins of the first page of a document to be recorded are

at least 0.25 inches.

This bill requires that the bottom and side margins of every page of the

document to be recorded are at least 0.25 inches. This bill also permits the register

of deeds to return without recording an entire group of related documents

representing one transaction when any single document within the group is

improperly formatted.

Current law requires a register of deeds to record conveyances of mineral

interests in a register of mineral rights. The bill requires that a register of deeds

record conveyances of mineral interests in the index in which the register of deeds

records real estate transactions.

Current law provides that a register of deeds may accept electronic documents

for recording. The bill provides that any electronic document that is properly indexed

in a public index maintained by the register of deeds shall be considered recorded

even if the electronic document does not satisfy all of the requirements set forth in

the statutes for recording. A similar provision applies under current law to paper

documents.

Under current law, a common law trust must meet certain requirements in

order to lawfully transact business in the state. Among these are requirements that

a declaration of trust be filed with the register of deeds and that a certificate be

provided to the Department of Financial Institutions (DFI) stating the time when the

declaration was filed. The register of deeds is required to charge 25 cents for

providing a certificate to DFI. Under this bill, the register of deeds must charge $1

for providing a certificate to DFI.