Escrow E-Support: Group Supports Digital Signatures, But Has Concerns

June 14, 2000

Inman News Features

For the paperless real estate transaction to ever work, it needs support from everybody ? including settlement service providers.

Good thing the American Escrow Association is supporting the effort.

The AEA?s board of directors recently published a position paper on behalf of the group supporting electronic signature legislation.

However, the group says the final bill should take into account the ability of local recorders? offices to handle title documents electronically as well as parts of real estate transactions that include "formalities based on long-standing local laws, customs, practices and procedures."

U.S. House and Senate have been working on a compromise bill that would give digital signatures equal legal weight as written ones. Such laws have long been key to the paperless home-buying experience.

The AEA?s position paper was published in March and can be accessed on the group?s Web site under "News Flash."

Contact ALTA at 202-296-3671 or

North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.