2009 ACTS EFFECTIVE JANUARY 1, 2012 MEASURE TITLE INTRO DESCRIPT : : : :

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SB1352 SD2 HD2 CD1 (CCR 106) RELATING TO BUREAU OF CONVEYANCES. Tokuda J (first primary), Chun Oakland S Establishes provisions relating to deregistration of fee interests. Requires registrar or assistant registrar to note recordation and cancellation of the certificate of title in the registration book and in the records of the application for registration of the land that is the subject of the certificate of title. Allows a registered owner of fee interest in registered land to deregister the land upon submitting a written request that includes proof of title insurance in the amount of the value of the land to be deregistered and a written waiver of all claims against the state relating to the title to the land arising after the date of deregistration. -- Establishes a chain of title of deregistered land. Requires the department of land and natural resources to establish a transaction fee of 5 dollars each recording in the bureau of conveyance and in the office of the assistant registrar of the land court for services rendered by the bureau of conveyances. Authorizes the registrar and assistant registrar of the bureau of conveyances to accept an electronic instrument in lieu of an original instrument with original signatures subject to the requirements set forth in rules adopted by the department of land and natural resources. Requires fees collected to be deposited to the credit of the bureau of conveyances special fund and to be used to support purchases for hardware, system design and staff training related to automation of the bureau of conveyances. -- Requires the bureau of conveyances to implement an integrated electronic filing system for electronic recordation of fee time share interests as a 2 year pilot program. Requires that the bureau of conveyances create an employer employee working group to resolve any issues that may arise in the implementation of fee time share interests and make recommendations for the recovery of lost revenue due to deregistration of time shares. Report to the legislature. Working group repealed on January 31, 2010 (sunset). -- SB1352 CD1 : This Act shall take effect on July 1, 2009; provided that section 2 of this Act shall take effect on July 1, 2011, and shall be repealed on December 31, 2014; provided further that section 16 of this Act shall take effect on July 1, 2009, and shall be repealed on the effective date of administrative rules adopted by the department of land and natural resources that address the establishment of transaction fees for each recording in the bureau of conveyances and in the office of the assistant registrar of the land court; provided further that section 17 of this Act shall take effect on January 1, 2012; and provided further that section 18 of this Act shall take effect upon its approval (June 15, 2009) and shall be repealed on January 31, 2010. : May-08 09 Received by the Governor Jun-15 09 Approved by Governor (Act 120 2009)

LRB Systems 12/28/2011

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