Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Stephen M. Wagstaffe, District Attorney
Subject: Resolution Increasing Existing Fee on Real Estate Instrument Recording from $3 to $6
RECOMMENDATION:
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Adopt a resolution to adjust the Assessor-County Clerk-Recorder Schedule of Fees set forth by County Ordinance 2.90.030 to increase the current recording fee on certain real estate instruments from $3 to $6.
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BACKGROUND:
These fees will be collected at the time of recording of every eligible real estate instrument as defined in California Government Code section 27388.
One of the easiest and most lucrative criminal acts to commit is real estate fraud. There are almost no safeguards to protect title to our homes from the knowledgeable white-collar criminal who will file a false Grant Deed or Quit Claim Deed to seemingly transfer title to him or herself. Once the criminal appears to have title, they can sell the home or drain the equity out of the property.
San Mateo County homeowners are particularly vulnerable to real estate fraud crimes given the incredibly high value of real estate in this County. Several San Mateo County cities consistently rank in the Top 25 nationally for cities with the highest average property values: Atherton (Number 1 nationwide); Portola Valley (Number 15); and Hillsborough (Number 22).
State law has long recognized the significant public concern surrounding real estate fraud and the need for real estate fraud investigation and prosecution. To cover the costs of combatting real estate fraud, Government Code Section 27388 allows a county Board of Supervisors to impose a fee for the recording of designated real estate instruments. The fees collected may be placed in a Real Estate Fraud Prosecution Trust Fund and used to pay for the costs associated with real estate fraud investigation and prosecution.
In 2017, this Board approved the formation o...
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