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Senate Bill 505

Enrolled Senate Bill (S)

DIGEST

Recording of documents. Changes the amounts and distribution of recording fees. Sets a statutory fee for bulk form copies of 10 cents per copy of a recorded document and 10 cents per recorded document for a copy of the indices. Allows a fee set by ordinance in an amount of up to 20 cents per copy and per recorded document if the county executive finds that the costs incurred by the county recorder exceed the amount of the statutory fee. Requires a recipient of bulk form copies (bulk user) to enter into a contract with the county recorder as a Recording of documents. Changes the amounts and distribution of recording fees. Sets a statutory fee for bulk form copies of 10 cents per copy of a recorded document and 10 cents per recorded document for a copy of the indices. Allows a fee set by ordinance in an amount of up to 20 cents per copy and per recorded document if the county executive finds that the costs incurred by the county recorder exceed the amount of the statutory fee. Requires a recipient of bulk form copies (bulk user) to enter into a contract with the county recorder as a prerequisite to receiving bulk form copies. Allows a bulk user that meets certain requirements to charge its customers a fee for using bulk form copies but not sell or transfer copies of recorded documents to another party. Adds the Uniform Real Property Electronic Recording Act that provides, effective January 1, 2018, that for purposes of recording: (1) an electronic document satisfies any legal requirement for an original paper document or other medium; and (2) an electronic signature satisfies a legal requirement that a document must be signed, notarized, acknowledged, or verified. Creates the electronic recording commission to adopt standards before January 1, 2018, to implement the Uniform Real Property Electronic Recording Act. Provides that a recorded memorandum of contract serves as evidence of and provides notice of the existence of the contract. Replaces, throughout IC 36, gender specific words with gender neutral words. ... View more