W ith the passage of the federal E-Sign Act, 1 has the era of electronic mortgage closings dawned? Apparently, not in New York. Despite this federal legislation, aimed at facilitating electronic commerce, New York`s Attorney General has taken the position that certain transactions requiring recordation cannot be conducted electronically. 2 In this article we will examine the E-Sign Act, New York`s equivalent 3 and the opinion of the Attorney General.
January 15, 2002 at 12:00 AM
1 minute read
With the passage of the federal E-Sign Act,[1]� has the era of electronic mortgage closings dawned? Apparently, not in New York. Despite this federal legislation, aimed at facilitating electronic commerce, New York’s Attorney General has taken the position that certain transactions requiring recordation cannot be conducted electronically.[2]� In this article we will examine the E-Sign Act, New York’s equivalent[3]� and the opinion of the Attorney General.
Slow to Gain Acceptance
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