This bill authorizes county auditors in Washington State to establish a voluntary property title protection program aimed at preventing land record fraud. Under the new provisions, property owners can record a fraud protection instrument with the county auditor, which will require a secure personal identification number or an approved override process for any transfer of ownership of the property. The bill also allows county auditors to delay the recording of ownership transfers for properties with a recorded fraud protection instrument for up to five business days. Additionally, the county treasurer or excise agent may delay processing real estate excise tax refund applications for properties under this protection.

The bill amends several existing laws, including RCW 65.04.030, 36.22.185, and 36.22.240, to exempt fraud protection instruments from certain recording fees and surcharges. Specifically, it states that these instruments will not incur the $100 covenant homeownership program assessment or the $2.50 surcharge for document recording. The bill also includes provisions for the distribution of funds collected from other surcharges to support various housing initiatives, including affordable housing and homelessness assistance programs. The act is declared an emergency measure, taking effect immediately to ensure the protection of property owners and the integrity of land records.

Statutes affected:
Original bill: 65.04.030, 36.22.185, 36.22.240
Substitute bill: 65.04.030, 36.22.185, 36.22.240