The unprecedented events of March 2020 have sparked a revolution in the conduct of business around the United States and the world, and the real estate industry is no exception. Until recently, not much had changed in the mechanics of real estate closings since the advent of the typewriter. Even with the promulgation of the Uniform Electronic Transactions Act (UETA) in 1999, the passage of the federal Electronic Signatures in Global and National Commerce Act (ESign) in 2000, the availability of optical scanning and e-recording, and the increasing use of escrow closings and electronic funds, most closings required a certain amount of paper, in part because of recording office limitations and natural reluctance to adopt new technology on the part of governmental agencies, title underwriters, attorneys, and lenders.
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