Raleigh, N.C. – On March 15, the Board of Directors of the Property Records Industry Association (PRIA) authorized publication of a background paper on predictable recording fees. This is the first deliverable in a three-part project that will include a toolkit for recording jurisdictions that are considering a predictable fee structure and a legislative tracking component to follow introduction and enactment of predictable fees across the 50 states.
This project was approved by the PRIA Board of Directors in response to inquiries from members in search of information about predictable fee structures, and overseen by Jerry Lewallen, president, eRecording Partners Network, and Sharon Martin, register of deeds, Washington Co., Wis.
Nora Dietzel, recorder of deeds, Boone Co., Mo., government co-chair of the work team that produced the background paper explains, “PRIA is repeatedly asked by its government members to provide direction for counties that are seeking information about the predictable recording fees model and this background paper is in response to those inquiries.”
Christie Price, national marketing manager, eRecording Partners Network, business sector co-chair, observed, “Implementing predictable recording fees may reduce and eliminate unnecessary delays, rejections, and penalties in the real estate home closing transaction.”
According to PRIA President Mark Ladd, vice president of regulatory and industry affairs for Simplifile, “The PRIA Board of Directors has endorsed the predictable recording fees concept and is providing background information to allow counties to determine whether some form of predictable fees will work in their state.”
PRIA has posted the companion piece to this background paper, the Predictable Recording Fees –Toolkit, to its website for a 30-day comments period which ends on May 17, 2017.
The Property Records Industry Association (PRIA) develops and promotes national standards and best practices for the property records industry. PRIA is a coalition of government and business partners collaborating on issues of common interest. PRIA strives to identify areas of consensus within the industry, leading to recommendations for national standards and practices pertaining to recordable documents. For more information on PRIA, visit www.pria.us.