SF 3313

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to real property; providing for the 
  1.3             electronic recording and authentication of certain 
  1.4             documents as part of a pilot project; delaying the 
  1.5             expiration date of the electronic real estate filing 
  1.6             task force; amending Minnesota Statutes 2000, section 
  1.7             507.093; Minnesota Statutes 2001 Supplement, section 
  1.8             507.24, subdivision 2; Laws 2000, chapter 391, section 
  1.9             1, subdivision 2.  
  1.10  BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.11     Section 1.  Minnesota Statutes 2000, section 507.093, is 
  1.12  amended to read: 
  1.13     507.093 [STANDARDS FOR DOCUMENTS TO BE RECORDED OR FILED.] 
  1.14     (a) The following standards are imposed on documents to be 
  1.15  recorded with the county recorder or filed with the registrar of 
  1.16  titles: 
  1.17     (1) The document shall consist of one or more individual 
  1.18  sheets measuring no larger than 8.5 inches by 14 inches. 
  1.19     (2) The form of the document shall be printed, typewritten, 
  1.20  or computer generated in black ink and the form of the document 
  1.21  shall not be smaller than 8-point type.  
  1.22     (3) The document shall be on white paper of not less than 
  1.23  20-pound weight with no background color, images, or writing and 
  1.24  shall have a clear border of approximately one-half inch on the 
  1.25  top, bottom, and each side.  
  1.26     (4) The first page of the document shall contain a blank 
  1.27  space at the top measuring three inches, as measured from the 
  2.1   top of the page.  The right half to be used by the county 
  2.2   recorder for recording information or registrar of titles for 
  2.3   filing information and the left half to be used by the county 
  2.4   auditor or treasurer for certification.  
  2.5      (5) The title of the document shall be prominently 
  2.6   displayed at the top of the first page below the blank space 
  2.7   referred to in clause (4).  
  2.8      (6) No additional sheet shall be attached or affixed to a 
  2.9   page that covers up any information or printed part of the form. 
  2.10     (7) A document presented for recording or filing must be 
  2.11  sufficiently legible to reproduce a readable copy using the 
  2.12  county recorder's or registrar of title's current method of 
  2.13  reproduction.  
  2.14     The standards in this paragraph do not apply to a document 
  2.15  that is recorded or filed as part of a pilot project for the 
  2.16  electronic filing of real estate documents implemented by the 
  2.17  task force created in Laws 2000, chapter 391.  
  2.18     (b) The recording or filing fee for a document that does 
  2.19  not conform to the standards in paragraph (a) shall be increased 
  2.20  as provided in sections 357.18, subdivision 5; 508.82; and 
  2.21  508A.82. 
  2.22     (c) The recorder or registrar shall refund the recording or 
  2.23  filing fee to the applicant if the real estate documents are not 
  2.24  filed or registered within 30 days after receipt, or as 
  2.25  otherwise provided by section 386.30. 
  2.26     Sec. 2.  Minnesota Statutes 2001 Supplement, section 
  2.27  507.24, subdivision 2, is amended to read: 
  2.28     Subd. 2.  [ORIGINAL SIGNATURES REQUIRED.] Unless otherwise 
  2.29  provided by law, an instrument affecting real estate that is to 
  2.30  be recorded as provided in this section or other applicable law 
  2.31  must contain the original signatures of the parties who execute 
  2.32  it and of the notary public or other officer taking an 
  2.33  acknowledgment.  However, a financing statement that is recorded 
  2.34  as a filing pursuant to section 336.9-502(b) need not contain:  
  2.35  (1) the signatures of the debtor or the secured party; or (2) an 
  2.36  acknowledgment.  Any electronic instruments, including 
  3.1   signatures and seals, affecting real estate may only be recorded 
  3.2   as part of a pilot project for the electronic filing of real 
  3.3   estate documents implemented by the task force created in Laws 
  3.4   2000, chapter 391.  
  3.5      Sec. 3.  Laws 2000, chapter 391, section 1, subdivision 2, 
  3.6   is amended to read:  
  3.7      Subd. 2.  [STUDY AND RECOMMENDATIONS.] The task force shall 
  3.8   study and make recommendations regarding implementation of a 
  3.9   system for electronic filing and recording of real estate 
  3.10  documents and shall consider:  
  3.11     (1) technology and computer needs; 
  3.12     (2) legal issues such as authenticity, security, timing and 
  3.13  priority of recordings, and the relationship between electronic 
  3.14  and paper recording systems; 
  3.15     (3) cost-effectiveness of electronic recording systems; 
  3.16     (4) timetable and plan for implementing an electronic 
  3.17  recording system, considering types of documents and entities 
  3.18  using the system and volume of recordings; 
  3.19     (5) permissive versus mandatory systems; and 
  3.20     (6) other relevant issues identified by the task force.  
  3.21     The task force shall submit a report to the legislature by 
  3.22  January 15, 2001, outlining a proposed work plan and budget for 
  3.23  consideration by the legislature.  The task force expires June 
  3.24  30, 2003 2004.