Electronic Real Estate Records: A Model for Action

Abstract

The legal, technological, and structural components are in place to allow the legal community to embark on the process of creating a uniform real property recording act. Certain jurisdictions have started the process by adopting various provisions allowing counties to implement electronic recording systems. These provisions are, however, disparate and inconsistent. Given the inconsistencies in the manner in which the electronic recording systems are developing, national commercial and lending practices would have a difficult time attempting to comply with all the possible permutations. In the near future, Fannie Mae, the Property Records Industry Association, and the Mortgage Industry Standards Maintenance Organization should set forth a single generally-accepted protocol for the format of electronic documents and electronic signatures. Thereafter, one can project a substantial and immediate "push" to establish electronic recording on a national scale. The promulgation of a Uniform Action electronic recording would also promote national uniformity. It would provide a framework for an enactment by each state that would assure a single national recording structure.

Keywords: uniform real property recording act, electronic recording, real estate records, property law