May 21, 2010

Tip 22-2010: Recording Fee Increase

Effective July 1, 2010, the Virginia General Assembly has authorized an additional $10.00 per document recording cost. Each Deed, Deed of Trust and Certificate of Satisfaction will have an increased recording fee of $10.00 paid to the Clerk.

In other words, when the recording fee (not the recording tax) for a deed was $33.00, it will, beginning July 1, be $43.00, a Deed of Trust will increase from $46.00 to $56.00 and a Certificate of Satisfaction from $31.00 to $41.00.

This change should be reflected soon by the lenders in their GFE, as the effective date is when the instrument is actually recorded. If the closing is scheduled for the end of June or beyond, the lenders’ GFE will probably reflect the increased fee. The good news is that even if there is a mistake, the additional $10.00 per instrument should not create an “out of tolerance” problem as these recording fees are part of the 10% tolerance limit.

Please contact me if you have any questions.
William D. Tucker, III
Tucker Griffin Barnes P.C.
Charlottesville, Virginia

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