In response to a new, more predictable recording fee model request by the title industry and banking professionals, several bills were passed during the 2017 session of the Nevada Legislature that affect the fees charged by Recorders for the recording of documents. This new fee structure will take effect October 1, 2017.
This fee structure change is part of a necessary cooperative effort between many agencies to simplify and streamline a previously difficult process and to help provide a more uniform application of recording fees throughout the state. With the enactment of the TILA-RESPA Integrated Disclosure Act (TRID) in 2015 and the creation of the Consumer Financial Protection Bureau (CFPB), positive changes were needed in all areas of the mortgage lending process – and include real estate recording fees. Today, all entities work together to benefit and protect the consumer during the mortgage lending process by establishing clear and predictable fees.
With a flat $25.00 per document fee, recording fees will be more predictable. They will no longer be dependent upon a recording fee for the first page, plus $1 for each additional page. Additionally, the $25 non-standard fee will no longer be applicable. Please note that the $25.00 per document fee does not include the other statutory fees imposed on documents to be recorded. In Storey County, the new fee structure in general will be:
$25.00 Base Recording fee for any standard document
1.00 Fund to assist persons formerly in Foster Care
3.00 Legal services for the indigent
1.00 Compensation of Investigators appointed by District Courts
5.00 Technology fund for County Recorder
*3.00-6.00 Legal services for abused and neglected children
$35.00 - $41.00 Total predictable recording fee
*Please check each county, this fee may or may not be required.
Mining documents are exempt from the $25 predictable recording fee, but are subject to the statutory fees. In brief, mining documents will have an additional $4.00 added to the currently established fee structure. For specific fee information, check the county you will be recording your documents in!
For more information, please see the attached list of bills passed by the legislature:
AB169 - Revises provisions governing certain fees collected by county recorders.
SB433 - Revises provisions governing the guardianship of minors.
SB490 - Revises provisions relating to the foreclosure of real property.
OTHER LINKS FOR INFORMATION
CFPB - https://www.consumerfinance.gov/
*This link can be found on the CFPB website listed above, with a search term of TRID in the search box