SB 2: KNOW THE FACTS, PAY THE FEES.


Courtesy of Stewart Title of California, Inc.
800.STEWART | stewart.com

UNDERSTANDING THE SB 2 AFFORDABLE-HOUSING RECORDING FEE

Beginning January 1, 2018, pursuant to SB 2 and with the exception of expressly exempted recordings, a fee of $75 will be due at the time of recording for every real estate instrument, paper or notice required or permitted by law to be recorded, per each single transaction, per parcel of real property. The fee imposed by this bill shall not exceed $225 per transaction.

Expressly exempt are real estate instruments, papers, or notices recorded in connection with a transfer, subject to the imposition of a documentary transfer tax as defined in Section 11911 of the Revenue and Taxation Code, and any real estate instrument, paper or notice recorded in connection with a transfer of real property that is a residential dwelling to an owner-occupier.*

For any exemption, a declaration of valid exemption may be placed on the face of each document, or on a document cover page** which shall become part of the document, prior to depositing with the recorder.*** If no valid exemption is declared, the $75 fee will be assessed.

*Most counties consider “recorded in connection with a transfer” (subject to a documentary transfer tax or residential transfer or owner-occupier) to mean recorded concurrently. However, Kern, Marin, Plumis, San Diego and San Francisco Counties do not require concurrent recording, provided the cover page details recording info for the “in connection with” document.

**Most counties do not require the cover page to be signed except Butte, Calaveras, Imperial, Placer and San Bernardino Counties.

***Please quote accordingly as this cover page may require an additional per-page recording fee. The information provided on this flyer is for general informational purposes only, should not be solely relied upon, and is subject to change without notice. Please check with your local Stewart Title office or with your local county recorder’s office to get updated information.