LowellDeeds

A blog reader sent an email suggesting that registries standardize the way they charge for marginal references and so-called multiple documents. Previously, registries would add $1 to the recording fee for each marginal reference beyond the first one, but last year's fee increase legislation eliminated the charge for extra marginal references. Now, a customer should be allowed an unlimited number of marginal references at no extra charge. A "multiple document" is something different, however. A single piece of paper that does more than one thing is called a multiple document. Let's say someone records a declaration of trust that also conveys real estate into the trust. That document does two things - it creates a trust and it conveys real estate. The document is given only one instrument number, but it is indexed as two separate documents (in this case, a deed and a declaration of trust) and incurs the recording fee of both documents. Here's an example that's more ambiguous. Let's say a borrower recorded a mortgage and an assignment of leases and rents. When the loan is paid off, the bank issues a document that discharges both the mortgage and the assignment of leases and rents. Some registries treat that as a multiple document, (a discharge of mortgage and a discharge of the assignment) and charge two fees. Other registries treat it as a single discharge, make marginal references to both the mortgage and the assignment of rents, and charge only one fee. The registries must figure out a standard way of charging for these types of documents so that users will know how much money to collect from their clients for recording fees.