A New Recording fee for Real Estate Documents.
The California Legislature recently passed Senate Bill 2, also known as the Building Homes and Jobs Act (“Act”) and was signed by the Governor on September 29, 2017.
The Building Homes and Jobs Act (“Act”) imposes a recording fee for real estate documents.
Effective January 1, 2018, the Act imposes a new fee of $75 be paid at the time of the recording of every real estate instrument to be recorded, including – deed, grant deed, trustee’s deed, request for notice of default, abstract of judgment, notice of default, assessment lien, release of lien, easement, notice of trustee sale, notice of completion, mechanic’s lien, maps, and CC&Rs.
The fee will be added to each transaction per single parcel of real property and is in addition to all other existing recording fees. Substitutions and reconveyances within a single recording count as separate transactions and will be billed separately.
SB #2 provides that the $75 fee will not be imposed on any real estate instrument recorded in connection with a transfer that is subject to documentary transfer tax, and total fees cannot exceed $225.
Sources: CA Legislative Info│Bill Tracker │NPH