A new transfer tax is effective in Maryland, all documents will need to be filed electronically in Washington D.C., a new Remote Ink-Signed Notarization bill has passed in Texas, and lots more industry news in various states.
- The CLTA, in its capacity as an advisory organization pursuant to Sections 12402-12402.2 of the Insurance Code, has made a form filing on behalf of its member companies. For more information, visit CLTA News.
- Effective August 15, 2023 through May 2024, the Recorder of Deeds office will be under construction and all documents must be filed electronically. For the list of approved electronic vendors, visit the ROD's website.
- Effective July 1, 2023, the Anne Arundel County transfer tax for transactions of $1,000,000.00 or more will be 1.5%. This transfer tax will not apply to real property that provides for affordable housing for moderate or low income households in the County or City of Annapolis. For transfers under $1 million, the transfer tax remains at 1.0%.
- A new bill has been signed into law by Governor DeSantis, effective July 1, 2023. The law, in part, limits and regulates the sale, purchase, and ownership of certain properties in Florida by foreign principals, persons, and entities. Learn more via FLTA.
- On May 27, 2023, a new Remote Ink-Signed Notarization (RIN) bill was signed into law by Governor Abbott. SB 1780 allows for RIN within the existing statutory Remote Online Notarization (RON) framework. Learn more via TLTA.
- The Office of Superintendent of Insurance (OSI) will conduct a rulemaking to amend the existing Title Insurance Rules and it will involve consideration of the title insurance forms published by the American Land Title Association (ALTA). The hearing will be held on the proposed rule on July 27, 2023.