Pacific Business News (Honolulu) – by Janis L. Magin
Two new laws aim to streamline and modernize property recordings at Hawaii’s Bureau of Conveyances.
One law will allow the bureau, which records all real estate transactions in Hawaii, to accept electronic signatures, and also to archive documents digitally instead of on microfilm.
The other takes time share transactions out of Land Court. Gov. Linda Lingle signed both bills into law within the last week.
One of the new laws increases the fee for every transaction recorded in the regular system by $5, effective July 1. The bureau will use the extra money for purchasing computers and software and for training the staff for the electronic conversion.
The Legislature did not include money for the electronic filing program, but the new law will allow the bureau to start the planning process, and will allow the bureau to start archiving documents electronically, said Registrar Nicki Ann Thompson. The bureau has been working with the Land Title Association and the title companies on the issue on a regular basis, she said.
The other law sets up a working group of staff led by the registrar to look at moving titles to time shares out of Land Court and into the regular conveyance system. The process, known as deregistration, does not take effect until 2011.