Assembly Bill 1335, the bill that imposes new fees on the recording of various real estate documents is expected to raise $300 – $500 million annually. Although it does not raise fees on the recordings of documents pursuant to a sale transaction, the bill imposes a fee of $75 on the recording of certain real estate-related documents, to fund the Building Home & Jobs Trust Fund. The bill creates a 20% set aside of funding for homeownership programs.
The documents affected by the $75 per document fee include, but are not limited to, the following: grant deed, quitclaim deed, deed of trust, declaration of homestead, notice of default, mechanic’s lien, CC&Rs, easement, abstract of judgment, and reconveyance.
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