Discussion and possible to approve a Memorandum of Understanding and Electronic Recording Trusted Submitter Agreement form to allow and provide for electronic recording services between Webb County acting by and through the Webb County Clerk's Office and various title insurance companies, attorneys, mortgage bankers, full service banks and/or other trusted entities to allow for the submission of electronic documents for recording in the Official Public Records of Webb County, Texas, and authorizing the Webb County Judge to execute all relevant documents; and any other matters incident thereto. There is not a financial impact on the General fund.
Issue: As a result of emerging technology, Webb County desires to provide for the the electronic recording of real estate, business records and other legal documents in the Webb County Clerk's Office which will allow for their office to provide a faster and highly efficient method to allow and permit various title insurance companies, attorneys, mortgage bankers, full service banks and/or other trusted entities and organizations to prepare, sign, transmit and pay for the recording in electronic format legal documents, real property and/or business records which shall be considered an "original" record of the transaction in substitution for, and with the same intended effect as, paper documents as that such documents can also now bear a digital or electronic signature, while still allowing for paper documents bearing handwritten signatures to also be electronically recorded.
Solution: Webb County by approving and providing an agreed Memorandum of Understanding Agreement form allows the Webb County Clerk's Office to permit title insurance companies, attorneys, mortgage bankers, full service banks, other trusted entities and/or organizations to prepare, sign, and/or transmit in electronic format documents and business records which shall be considered "original" record of the transaction in substitution for, and with the same intended effect as paper documents and, which will now allow such documents to bear a digital or electronic signature, while still allowing for the recordation of paper documents bearing handwritten signatures.
Result: By approving this Electronic Recording Memorandum of Understanding agreement form, Webb County and the Webb County Clerk's Office will provide a faster and highly efficient method to allow and permit various title insurance companies, attorneys, mortgage bankers, full service banks and/or other trusted entities organizations to prepare, sign, transmit and pay for the recording in electronic format legal documents, real property and/or business records while still allowing for the recordation of paper documents bearing handwritten signatures by entering into such an agreement. |