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Virginia Real Property Electronic Recording Standard

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Virginia Real Property Electronic Recording Standard SEC505-00.1 Effective Date: May 1, 2007 December 8, 2016 COMMONWEALTH OF VIRGINIA Information Technology Resource Management Standard VIRGINIA REAL PROPERTY ELECTRONIC RECORDING STANDARD Virginia Information Technologies Agency (VITA) i Virginia Real Property Electronic Recording Standard SEC505-00.1 Effective Date: May 1, 2007 December 8, 2016 PUBLICATION VERSION CONTROL ITRM Publication Version Control: It is the user's responsibility to ensure they have the latest version of the ITRM publication. Questions should be directed to the Associate Director Manager for Policy, Practice and Enterprise Architecture (PPA) (EA) at VITA’s Relationship Management Governance (RMG) Strategic Management Services (SMS). SMS EA will issue a Change Notice Alert, post it on the VITA Web site, and provide an email announcement to the Circuit Court Clerks, as well as other parties PPA EA considers to be interested in the change. This chart contains a history of this ITRM publication’s revisions. Version Date Purpose of Revision Original 05/01/2007 Base Document This administrative update is necessitated by changes in the Code of 00.1 12/08/2017 Virginia and organizational changes in VITA. No substantive changes were made to this document. ii Virginia Real Property Electronic Recording Standard SEC505-00.1 Effective Date: May 1, 2007 December 8, 2016 PREFACE real estate settlement process for the benefit of citizens of the Commonwealth and users of the electronic Publication Designation filing system. SEC505-00.1 Sections 55-66.3 through 55-66.5 and 55-66.8 through Subject 55-66.15: This Standard for the electronic acceptance and recordation for the release of mortgage, rescinding Virginia Real Property Electronic Recording Standard erroneously recorded certificates of satisfaction, requirements on secured creditors, and the form and Effective Date effect of satisfaction facilitates real estate transactions May 1, 2007 December 8, 2016 in the Commonwealth. It brings Virginia in line with the recommendations for a uniform set of laws across the country for the electronic filing of land records, so Compliance Date once a real estate transaction goes to settlement, the July 1, 2008 December 8, 2016 attorney or settlement agent can file the documents for recordation directly from their office, streamlining the Supersedes real estate settlement process for the benefit of citizens None Virginia Real Property Electronic Recording of the Commonwealth and users of the electronic Standard SEC 505-00 filing system. Scheduled Review: Purpose One (1) year after the effective date, then every two This Standard for the electronic acceptance and years thereafter. recordation of land records and for the release of mortgages, rescinding erroneously recorded certificates of satisfaction, requirements on secured Authority creditors, and the form and effect of satisfaction Code of Virginia Article 7 of Title 55 of the Code of facilitates real estate transactions in the Virginia Real Property Electronic Recording Act; §55- Commonwealth. It brings Virginia in line with the 142.13 Uniform Standards to Implement Electronic recommendations for a uniform set of laws across the Recording of Real Property Documents country for the electronic filing of land records, so once a real estate transaction goes to settlement, the Code of Virginia, Article 2.1 of Title 55 of the Code of attorney or settlement agent can file the documents for Virginia; §55-66.14 Uniform Standards to Implement recordation directly from their office, streamlining real Electronic Recording of Real Property Documents estate settlement process for the benefit of citizens of the Commonwealth and users of the electronic filing Scope system. This Standard is applicable to all Clerks of the Circuit Courts (hereinafter collectively referred to as Responsibilities "Clerks") that: (Italics indicate quote from the Code of Virginia i. accept and record land records electronically requirements) pursuant to the Real Property Electronic Recording Act, Section 55-142.10 through 55- Virginia Information Technologies Agency (VITA) 142.15; and In accordance with the Code of Virginia, VITA is responsible developing “…standards to implement ii. accept and record land records electronically electronic recording of real property documents” in pursuant to the Residential Mortgage Satisfaction consultation with the circuit court clerks, the Act, Sections 55-66.3 through 55-66.5, and 55- Executive Secretary of the Supreme Court, interested 66.8 through 55-66.15. citizen and businesses. Value Statement All Circuit Court Clerks Section 55-142.10 through 55-142.15: This Standard Responsible for complying with Standard for the electronic acceptance and recordation of land SEC505-00 issued by the Chief Information Officer of records facilitates real estate transactions in the the Commonwealth of Virginia upon implementation Commonwealth. It brings Virginia in line with the by the Clerk of a system for electronic filing of land recommendations for a uniform set of laws across the records documents. country for the electronic filing of land records, so once a real estate transaction goes to settlement, the attorney or settlement agent can file the documents for recordation directly from their office, streamlining the iii Virginia Real Property Electronic Recording Standard SEC505-00.1 Effective Date: May 1, 2007 December 8, 2016 Information Technology Security Standard (ITRM Related ITRM Policies, Standard SEC501.01) Effective 07/01/2006 Standards, and Guidelines Information Technology Security Risk Management Security Standard for Restricted Remote Access to Guideline (ITRM Guideline SEC506-01) Effective Documents on Court-Controlled Websites (SEC503- 12/11/2006 02) Revised 03/28/2005 Useful templates may be downloaded from the Information Technology Security Policy (ITRM Information Security section of the ITRM Policies, Policy SEC500-02) Effective 07/01/2006 Standards and Guidelines page on the VITA Web site. iv Virginia Real Property Electronic Recording Standard SEC505-00.1 Effective Date: May 1, 2007 December 8, 2016 TABLE OF CONTENTS PUBLICATION VERSION CONTROL ............................................................................ ii PREFACE .......................................................................................................................... iii 1. INTRODUCTION ........................................................................................................ 2 1.1 Acknowledgements ................................................................................................. 2 1.2 How to Use this Standard ........................................................................................ 2 1.3 Definitions............................................................................................................... 2 1.3.1. Clerk .................................................................................................................... 2 1.3.2. Document ............................................................................................................ 3 1.3.3. Electronic ............................................................................................................ 3 1.3.4. Electronic Document........................................................................................... 3 1.3.5. Electronic Signature ............................................................................................ 3 1.3.6. eRecording System ............................................................................................. 3 1.3.7. Land Records Document ..................................................................................... 3 1.3.8. Notification ......................................................................................................... 4 1.3.9. Filer ..................................................................................................................... 4 1.3.10. Electronic Notarization. ...................................................................................... 4 2. VIRGINIA REAL PROPERTY ELECTRONIC RECORDING REQUIREMENTS 5 2.1 Technical Requirements .......................................................................................... 5 2.2 Electronic Filing and Transmission ........................................................................ 5 2.3 Levels of Document Intelligence ............................................................................ 5 2.3.1. Level One ............................................................................................................ 5 2.3.2. Level Two ........................................................................................................... 5 2.3.3. Level Three ......................................................................................................... 6 2.3.4. Level Four: .......................................................................................................... 6 2.4 Electronic Signature ................................................................................................ 6 2.5 Electronic Notarization ........................................................................................... 6 2.5.1 Standards for Electronic Notarization ................................................................. 6 2.6 Document and System Security Requirements ....................................................... 7 2.6.1. yption: ....................................................................................................................
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