Auditors back voluntary title-protection program as industry warns of gaps
House Bill 22-98 would let county auditors create voluntary property-title protection programs that delay recording transfers for up to five business days to help prevent real-estate fraud; auditors urged the tool while trustees and title industry groups said the bill needs stronger definitions and overrides to avoid unintended consequences for foreclosures and legitimate transfers.
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House Bill 22-98 would permit county auditors to offer voluntary fraud or property-title protection instruments that slow transfers of ownership or require identity verification before a transfer is recorded. Committee staff explained the program could be coordinated with county treasurers and excise agents and that recording a protection instrument and its release would be exempt from certain surcharges.
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