A1668

Encourages timely recording of residential deeds by imposing late filing fees.

The bill amends existing law to encourage timely recording of residential deeds by imposing a late filing fee of $10 per day, up to a maximum of $500, for deeds submitted more than 90 days after delivery to the grantee. The fee does not apply if the county recording office is closed on the 90th day or if the deed is held in escrow. The proceeds from these fees are to be deposited into the county’s Homelessness Housing Trust Fund or an account for purposes related to combatting homelessness. The bill also includes provisions for new construction and exemptions for certain transfers.