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REAL ESTATE NEWS

The New Jersey Land Title Association position that statutory provisions establish a "next business day" standard for the operation of the county recording offices has now been accepted into Consent Orders with all counties except Monmouth and Middlesex.

There are variations in the procedural aspects, however all are identical as follows:

1. Instruments delivered or received in the mail shall be opened and reviewed within one business day of the day on which they are received for record.

2. All instruments must be entered in the permanent alphabetical index on the same day or day after being received for record.

3. No limitation on number of documents delivered for recording by hand. Those instruments shall be immediately reviewed for compliance and if in compliance, accepted and recorded within one day of the day on which they are received.

4. A permanent alphabetical index of notices of settlement shall be kept, current to one day of the day of which such notices are received for recording.

5. All instruments must be checked for compliance before stamping it "received."

6. All corrections made in any of the indices after the initial entry of any instrument shall be noted in that index together with the nature of the correction and the date of correction. N.J.S.A. 47:1-13.

Because absolute compliance within the next business day may not be feasible until all changes are put in place and new technologies are developed and installed, many of the orders contain "substantial compliance" provisions allowing for up to 4 days of recording delay and 30 days notice with an opportunity to correct before remedial action is taken, is allowed.

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