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from Local Attorney, Michael H. Wasserman

Wednesday, February 27, 2008

COOK COUNTY RECORDING FEES INCREASE 3/3/08

Effective March 3, 2008, at the direction of the Cook County Board, the cost to record documents with County Recorder will increase by $12.

The $12 surcharge will increase the cost of a "typical" Deed from $38 to $50 & a "typical" from $68 to $80.

Recording documents with the County Recorder establishes them as public records. Information at the Recorder's office helps us all track the current legal owners of any given parcel of land, and to determine who might have security interests in that property.

Most every real estate transaction I participate in involves at least three, sometimes as many as five or six recordings. The Buyer wants his or her Deed recorded. The Lender(s) want the Mortgage(s) recorded. The Buyer and Seller want Releases recorded to "prove" that old loans were paid off as part of the closing.

$14 of every $15 new dollars collected will finance the County's ongoing implementation of its "geographic information system" (computer hardware, software, and geographic data designed to efficiently capture, store, update, manipulate, analyze, and display all forms
of geographically referenced information. The other buck will go to "special funds."