LAWS & CUSTOMS by State Real Estate A Guide for Navigating Each State’s Rules and Procedures for Closings, Taxes, Fee Splits and More
Fidelity National Title Insurance Company – National Commercial Services is pleased to provide you with this handy state-by-state chart of laws, customs and fee splits. Our National Commercial Services (NCS) operations are strategically located in major metropolitan areas throughout the U.S. Each NCS serves as a one-stop, single point of contact to expedite commercial transactions on a local and nationwide level, from simple to complex multi-state transactions, and everything in-between. We specialize in helping you close your deal with a variety of services. Whether a single property or multiple locations across the country, rely on us. commercial.fntic.com This information is furnished as a service to our customers. Although great care has been taken to provide accurate and complete information, state laws and procedures change. Please contact Fidelity National Title Insurance Company or visit strdata.inhere.com for updated information or consult a local attorney for specific questions of law. Information current as of August 27, 2025. ©2025 Fidelity National Title Insurance Company. All rights reserved. LAWS & CUSTOMS by State Real Estate
- 3 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) ALABAMA Title Insurance Rates Filed Form of Conveyance Warranty Deed State Encumbrance Forms Mortgage Customary Closing Entity Title Company, approved attorney, bank Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? Invoice issued with Commitment or collected at closing. Deed Transfer Tax? Yes, Deed Tax Mortgage Tax? Yes Leasehold Tax? Yes CUSTOMARY FEE SPLITS Owner’s Policy Premium Negotiable (Seller customarily pays in Jefferson/Shelby counties) Loan Policy Premium Buyer pays Title Search & Examination Negotiable Survey Charges Negotiable Deed Transfer Tax Buyer pays Mortgage Tax Buyer Pays (can be negotiated) Closing Fees Negotiable Recording Fees Buyer pays (Seller can pay)
- 4 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) ALASKA Title Insurance Rates Filed Form of Conveyance Warranty Deed, Quitclaim Deed State Encumbrance Forms Deed of Trust; Mortgage (rare) Customary Closing Entity Title company; approved attorney; bank Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? Varies by office Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays; sometimes negotiated Loan Policy Premium Buyer pays Title Search & Examination Included in premium Survey Charges Seller pays; sometimes negotiated Deed Transfer Tax Not applicable Mortgage Tax Not applicable Closing Fees Negotiable; usually divided equally Recording Fees Negotiable; usually divided equally
- 5 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) ARIZONA Title Insurance Rates Filed Form of Conveyance Warranty Deed; Special Warranty Deed; Quitclaim Deed State Encumbrance Forms Deed of Trust; Mortgage Customary Closing Entity Title or escrow company; others Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? When policy issues Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays; Buyer pays difference if Extended Coverage Policy required Loan Policy Premium Buyer pays Title Search & Examination Included in premium Survey Charges Buyer pays unless contract specifies otherwise Deed Transfer Tax Not applicable Mortgage Tax Not applicable Closing Fees Divided equally between Buyer and Seller Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 6 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) ARKANSAS Title Insurance Rates Not filed Form of Conveyance Warranty Deed State Encumbrance Forms Mortgage (preferred); Deed of Trust Customary Closing Entity Title or abstract company; attorney Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Deed Transfer Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays Loan Policy Premium Buyer pays Title Search & Examination Negotiable Survey Charges Negotiable Deed Transfer Tax Divided equally (unless agreed upon otherwise) Mortgage Tax Not applicable Closing Fees Divided equally between Buyer and Seller Recording Fees Buyer pays
- 7 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) CALIFORNIA Title Insurance Rates Filed Form of Conveyance Grant Deed State Encumbrance Forms Deed of Trust Customary Closing Entity Title or escrow company; others Commitment Issued? Duration? Upon request. 180 days. When is Invoice Issued? When policy issues Deed Transfer Tax? Yes, Documentary Transfer Tax; some local municipalities impose additional tax Mortgage Tax? No Leasehold Tax? Yes, if more than 35 years (including renewal options) CUSTOMARY FEE SPLITS Owner’s Policy Premium Varies by county Loan Policy Premium Buyer customarily pays Title Search & Examination Included in premium Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Seller pays. Various cities impose an additional City Documentary Transfer Tax and who pays the tax in those cities varies. Mortgage Tax Not applicable Closing Fees Varies by county (usually Buyer/Seller split) Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 8 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) COLORADO Title Insurance Rates Filed Form of Conveyance Warranty Deed; Special Warranty Deed State Encumbrance Forms Deed of Trust; Mortgage Customary Closing Entity Title or escrow company; others Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Documentary Transfer Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays; negotiable by contract Loan Policy Premium Buyer pays; negotiable by contract Title Search & Examination Included in premium Survey Charges Negotiable Deed Transfer Tax Buyer pays; negotiable by contract Mortgage Tax Not applicable Closing Fees Divided equally or by contract Recording Fees Buyer pays; negotiable by contract
- 9 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) CONNECTICUT Title Insurance Rates Filed Form of Conveyance Warranty Deed; Quitclaim Deed; Limited Warranty Deed; Special Warranty Deed; Trustee Deed; Executor’s Deed; Administrator Deed; Certificate of Devise State Encumbrance Forms Mortgage Deed Customary Closing Entity Attorney Commitment Issued? Duration? Upon request. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, state and municipal Real Estate Conveyance Tax Mortgage Tax? No Leasehold Tax? No, if less than 99 years (including renewals) CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Negotiable Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 10 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) DELAWARE Title Insurance Rates Filed Form of Conveyance Special Warranty Deed; Quitclaim Deed (rare); General Warranty Deed (rare) State Encumbrance Forms Mortgage Customary Closing Entity Attorney (required by law) Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Realty Transfer Tax Mortgage Tax? No Leasehold Tax? No, except residential leases more than 5 years (including optional renewal periods) CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Customarily divided equally Mortgage Tax Not applicable Closing Fees Buyer pays; sometimes negotiated Recording Fees Buyer pays
- 11 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) DISTRICT OF COLUMBIA Title Insurance Rates Filed Form of Conveyance Special Warranty Deed (General Warranty and Quitclaim are very rare) State Encumbrance Forms Deed of Trust; Mortgage (rare) Customary Closing Entity Attorneys and settlement agents may conduct closings, however only a licensed title producer may conduct a closing in which a title policy will be sold. Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Transfer Tax and Recordation Tax Mortgage Tax? Yes, Recordation Tax Leasehold Tax? Yes, if more than 30 years (including extensions) CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays Deed Transfer Tax Buyer pays Recordation Tax; Seller pays Transfer Tax Mortgage Tax Buyer pays Closing Fees Divided equally or by contract Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 12 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) FLORIDA Title Insurance Rates Promulgated Rate by Florida Office of Insurance Regulation Form of Conveyance Warrant Deed (preferred); Special Warranty Deed State Encumbrance Forms Mortgage Customary Closing Entity Attorney; title company Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment or at closing Deed Transfer Tax? Yes, Documentary Tax (Miami-Dade County imposes surtax) Mortgage Tax? Yes, Documentary Tax and Intangible Tax Leasehold Tax? No, unless assignment of lease for consideration CUSTOMARY FEE SPLITS Owner’s Policy Premium Commercial: negotiable Residential: Seller pays but Buyer pays in some counties Loan Policy Premium Buyer pays Title Search & Examination Seller pays; can be negotiated Survey Charges Buyer pays; can be negotiated Deed Transfer Tax Seller pays Mortgage Tax Who pays is generally negotiable, but customary in Miami-Dade, Broward, and Sarasota counties for the Buyer to pay. Closing Fees Seller pays unless otherwise indicated in contract Recording Fees Buyer pays to record Mortgage Seller pays to record Deed
- 13 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) GEORGIA Title Insurance Rates Filed Form of Conveyance Warranty Deed; Limited Warranty Deed; Quitclaim Deed State Encumbrance Forms Security Deed (aka, Deed to Secure Debt) Customary Closing Entity Commercial: Attorney, Title Agent under supervision of a Georgia Attorney, or Company office under supervision of a Georgia Attorney. Residential: Attorney Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Real Estate Transfer Tax Mortgage Tax? Yes, Intangible Record Tax Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Negotiable Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays Deed Transfer Tax Commercial: Negotiable Residential: Buyer pays Mortgage Tax Buyer pays Closing Fees Negotiable Recording Fees Buyer pays
- 14 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) HAWAII Title Insurance Rates Customarily filed, but not a legal requirement Form of Conveyance Warranty Deed; Limited Warranty Deed; Quitclaim Deed; Apartment Deed (for condos) State Encumbrance Forms Mortgage Customary Closing Entity Title or escrow company; others (must be licensed escrow depository) Commitment Issued? Duration? Yes (Preliminary Report). 90 days. When is Invoice Issued? At closing Deed Transfer Tax? Yes, State Conveyance Tax Mortgage Tax? No Leasehold Tax? Yes, leases over 5 years subject to Conveyance Tax CUSTOMARY FEE SPLITS Owner’s Policy Premium Residential: 60/40 Seller/Buyer split; Commercial: 50/50 split Buyer also pays beyond standard coverage fees (extended coverage policy and endorsements, etc.) Loan Policy Premium Buyer pays Title Search & Examination Included in premium, but additional search fees may be charged Survey Charges Negotiable Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Divided equally Recording Fees Buyer pays to record Deed and Mortgage Seller pays for recordings required to clear title
- 15 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) IDAHO Title Insurance Rates Filed Form of Conveyance Warranty Deed, Corporate Deed, Special Warranty Deed, Quitclaim Deed (on occasion) State Encumbrance Forms Deed of Trust; Mortgage (over 40 acres) Customary Closing Entity Title or escrow company; attorney; others Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? Varies by office Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays Loan Policy Premium Buyer pays Title Search & Examination Included in premium Survey Charges Fees negotiable between Buyer and Seller but typically the Buyer pays Deed Transfer Tax Not applicable Mortgage Tax Not applicable Closing Fees Negotiable, but typically divided equally between Buyer and Seller Recording Fees Negotiable; usually Buyer pays to record Deed of Trust and Mortgage and Seller pays to record Deed
- 16 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) ILLINOIS Title Insurance Rates Not filed Form of Conveyance Warranty Deed State Encumbrance Forms Mortgage; Trust Deed Customary Closing Entity Title company; attorney; others Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Real Estate Transfer Tax (state, county, sometimes local) Mortgage Tax? No Leasehold Tax? Yes, certain leasehold transfers may be subject to tax CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays Loan Policy Premium Buyer pays Title Search & Examination Seller pays Survey Charges Seller pays Deed Transfer Tax State: Seller; County: Either party; but customary for Seller to pay; Municipalities: Varies Mortgage Tax Not applicable Closing Fees Commercial: divided equally or by contract Residential and Commercial cash deals: divided equally or by contract Residential sale with a loan: Buyer pays Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 17 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) INDIANA Title Insurance Rates Filed Form of Conveyance Warranty Deed, Personal Representative’s Deed, Trustee’s Deed State Encumbrance Forms Mortgage Customary Closing Entity Title company; others Commitment Issued? Duration? Yes. 180 days When is Invoice Issued? With Commitment Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays Loan Policy Premium Buyer pays Title Search & Examination Varies by county Survey Charges Buyer pays Deed Transfer Tax Not applicable Mortgage Tax Not applicable Closing Fees Commercial: negotiable (usually split 50/50) Residential: negotiable (usually split 50/50) Recording Fees Buyer pays
- 18 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) IOWA Title Insurance Rates No title insurance companies are licensed within the State; title policies are written outside State Form of Conveyance Warranty Deed; Quitclaim Deed; Trustees Deed, etc. State Encumbrance Forms Mortgage Customary Closing Entity Attorney or Iowa-based escrow company Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Real Estate Revenue Stamp Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Negotiable Loan Policy Premium Buyer pays. If residential, who pays dependent on type of mortgage Title Search & Examination Buyer: Post-closing charges; Seller: Pre-closing abstract charges Survey Charges Negotiable Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Negotiable; usually Seller pays pre-closing exam/abstracting and Buyer pays post-closing charges Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 19 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) KANSAS Title Insurance Rates Filed Form of Conveyance Warranty Deed; Special Warranty Deed; Trustee’s Deed State Encumbrance Forms Mortgage Customary Closing Entity Title or escrow company; others Commitment Issued? Duration? Yes. 180 days When is Invoice Issued? With Commitment or at closing Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Generally, Seller pays, but varies by location, and contract, if any, controls. Loan Policy Premium Generally, Buyer/Borrower pays, but varies by location, and contract, if any, controls. Title Search & Examination Varies by location, and contract, if any, controls Survey Charges Seller pays; sometimes Buyer obtains survey or cost divided equally Deed Transfer Tax Not applicable Mortgage Tax No applicable Closing Fees Generally, Seller pays seller closing fees and Buyer/Borrower pays buyer/borrower closing fees, but varies by location, and contract, if any, controls. Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 20 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) KENTUCKY Title Insurance Rates Filed Form of Conveyance Warranty Deed; Special Warranty Deed; Trustee or Fiduciary Deed State Encumbrance Forms Mortgage Customary Closing Entity Attorney; title company Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Deed Transfer Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays. If commercial, can be negotiated. Loan Policy Premium Buyer pays. If commercial, can be negotiated. Title Search & Examination Buyer pays. If commercial, can be negotiated. Survey Charges Buyer pays. If commercial, can be negotiated. Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Buyer pays. If commercial, can be negotiated. Recording Fees Buyer customarily pays all recording fees. Seller customarily pays document preparation fees. If commercial, can be negotiated.
- 21 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) LOUISIANA Title Insurance Rates Filed Form of Conveyance Act of Cash Sale State Encumbrance Forms Act of Mortgage; Multiple Indebtedness Mortgage; Pledge of Leases and Rents Customary Closing Entity Notaries public who generally are attorneys Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? No, except New Orleans Documentary Transaction Tax Mortgage Tax? No, except New Orleans Documentary Transaction Tax Leasehold Tax? No, except New Orleans Documentary Transaction Tax CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays; sometimes negotiated Loan Policy Premium Buyer pays; sometimes negotiated Title Search & Examination Buyer pays; sometimes negotiated Survey Charges Buyer pays Deed Transfer Tax Not applicable (Seller pays New Orleans Documentary Transfer Tax) Mortgage Tax Not applicable (Seller pays New Orleans Documentary Transfer Tax) Closing Fees Normally paid by the Buyer with a small Seller’s closing fee in most parishes Recording Fees Buyer pays to record Deed and Mortgage. Seller pays to record curative documents to remove encumbrances.
- 22 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) MAINE Title Insurance Rates Filed Form of Conveyance Commercial: Quitclaim Deed; Quitclaim Deed with covenant Residential: Warranty Deed State Encumbrance Forms Mortgage Customary Closing Entity Title company; attorney; notary Commitment Issued? Duration? Yes. 180 days. When is Invoice Issued? At closing Deed Transfer Tax? Yes, Real Estate Transfer Tax Mortgage Tax? No Leasehold Tax? No if the lease is terminable at the end of the lease period and does not require the tenant to convey any rights back to the landlord. (If any “release” is required, that may be considered a transfer of interest rather than a leasehold and may require transfer tax). CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays Deed Transfer Tax Divided equally Mortgage Tax Not applicable Closing Fees Buyer pays Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances Nonresident Withholding (REW) – Paid By Buyer/escrow agent is responsible for withholding 2.5% of purchase price from seller where seller cannot attest to Maine residency
- 23 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) MARYLAND Title Insurance Rates Filed Form of Conveyance Special Warranty Deed State Encumbrance Forms Deed of Trust; Mortgage (rare) Customary Closing Entity Residential: Title companies, law firms, sole practitioners Commercial: Title companies, law firms, sole practitioners, underwriter direct office Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? At closing unless requested earlier Deed Transfer Tax? Yes, State Transfer Tax (in certain jurisdictions, county/city (local) transfer taxes). Mortgage Tax? Yes, Recordation Tax Leasehold Tax? Yes, ground & commercial more than 7 years CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays Deed Transfer Tax Split equally between Buyer and Seller. However, in transactions involving the sale of improved, residential real property to a first-time Maryland home buyer who will occupy the property as a principal residence, the entire amount of State transfer tax must be paid by the Seller. Additionally, the entire amount of local transfer tax must be paid by the Seller unless there is an express agreement between the parties that the local transfer tax will not be paid entirely by the Seller. Mortgage Tax Split equally between Buyer and Seller. However, in transactions involving the sale of improved, residential real property to a first-time Maryland home buyer who will occupy the property as a principal residence, the entire amount of recordation tax must be paid by the Seller unless there is an express agreement between the parties that the recordation tax will not be paid entirely by the Seller. Closing Fees Buyer pays; can be negotiated Recording Fees Buyer pays
- 24 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) MASSACHUSETTS Title Insurance Rates Not Filed Form of Conveyance Quitclaim Deed State Encumbrance Forms Mortgage Customary Closing Entity Attorney Commitment Issued? Duration? Upon request. Terminates if Schedule B, Part 1 requirements not met within 180 days after Commitment date. When is Invoice Issued? At closing or upon cancellation of the transaction/order. Deed Transfer Tax? Yes. Deed Excise Tax. Notes: Martha’s Vineyard and Nantucket County impose additional transfer fee. Barnstable County is calculated at a different rate. Mortgage Tax? No Leasehold Tax? Yes as to long term leases. See MA DOR Letter Ruling 79-52. CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays, except for parts of Worcester County Survey Charges Buyer pays Deed Transfer Tax Seller Pays Mortgage Tax Not applicable Closing Fees Buyer pays; can be negotiated Recording Fees Buyer pays to record Deed and Mortgage. Seller pays to record documents that remove encumbrances and Seller authority documents.
- 25 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) MICHIGAN Title Insurance Rates Filed Form of Conveyance Warranty Deed; Quitclaim Deed; Covenant Deed; Trustee’s Deed; Personal Representative’s Deed: Sheriff’s Deed State Encumbrance Forms Mortgage Customary Closing Entity Title or escrow company; attorney; others Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, state and county Real Estate Transfer Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays Loan Policy Premium Buyer pays Title Search & Examination Included in premium Survey Charges Negotiable Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Divided equally; sometimes Buyer pays additional loan closing fees Recording Fees Buyer pays to record deed and mortgage. Seller pays for POA, LOA, etc.
- 26 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) MINNESOTA Title Insurance Rates Filed Form of Conveyance Warranty Deed; Limited Warranty Deed; Quitclaim Deed; Trustee’s Deed; Personal Representative’s Deed, etc. State Encumbrance Forms Mortgage Customary Closing Entity Title or escrow company; attorney; lender Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, State Deed Tax Mortgage Tax? Yes, Mortgage Registration Tax Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Negotiable Loan Policy Premium Buyer pays Title Search & Examination Seller provides evidence of ownership Buyer pays to examine evidence Survey Charges Negotiable Deed Transfer Tax Seller pays Mortgage Tax Buyer pays Closing Fees Shared by parties Recording Fees Seller pays to record Deed and release encumbrances Buyer pays to record all other documents
- 27 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) MISSISSIPPI Title Insurance Rates Not filed Form of Conveyance Warranty Deed; Quitclaim Deed (with underwriter approval) State Encumbrance Forms Deed of Trust Customary Closing Entity Attorney Commitment Issued? Duration? Yes. 90 days. When is Invoice Issued? With Commitment Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer or Seller can pay; also negotiable Loan Policy Premium Buyer pays Title Search & Examination Seller pays Survey Charges Negotiable Deed Transfer Tax Not applicable Mortgage Tax Not applicable Closing Fees Divided equally Recording Fees Buyer pays
- 28 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) MISSOURI Title Insurance Rates Risk rates are filed Form of Conveyance Warranty Deed; Special Warranty Deed; Trustee’s Deed State Encumbrance Forms Deed of Trust Customary Closing Entity Title or escrow company; others Commitment Issued? Duration? Yes. 180 days. When is Invoice Issued? With Commitment or at closing Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Generally, Seller pays, but varies by location, and contract, if any, controls Loan Policy Premium Generally, Buyer/Borrower pays, but varies by location, and contract, if any, controls Title Search & Examination Varies by location, and contract, if any, controls Survey Charges Seller pays; sometimes Buyer obtains survey or cost divided equally Deed Transfer Tax Not applicable Mortgage Tax Not applicable Closing Fees Generally, Seller pays seller closing fees and Buyer/Borrower pays Buyer/Borrower closing fees, but varies by location, and contract, if any, controls Recording Fees Buyer pays to record Deed and Deed of Trust. Seller pays to record documents to remove encumbrances
- 29 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) MONTANA Title Insurance Rates Filed Form of Conveyance Warranty Deed; Corporate Deed; Grant Deed State Encumbrance Forms Deed of Trust; Trust Indenture; Mortgage (over 40 acres) Customary Closing Entity Title or escrow company; attorney Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? At closing Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays Loan Policy Premium Buyer pays Title Search & Examination Fees included in premium. Complex files may incur a work fee Survey Charges Buyer pays if loan only transaction; negotiable for sales transactions Deed Transfer Tax Not applicable Mortgage Tax Not applicable Closing Fees Divided equally Recording Fees Buyer pays
- 30 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) NEBRASKA Title Insurance Rates Filed Form of Conveyance Warranty Deed; Special Warranty Deed; Trustee’s Deed State Encumbrance Forms Deed of Trust; Mortgage Customary Closing Entity Title or escrow company; others Commitment Issued? Duration? Yes. 180 days. When is Invoice Issued? With Commitment or at closing Deed Transfer Tax? Yes, Documentary Stamp Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Generally, divided equally, but varies by location, and contract, if any, controls Loan Policy Premium Commercial: Generally, Buyer/Borrower pays, but varies by location, and contract, if any, controls. Residential: Generally, divided equally, but varies by location, and contract, if any, controls Title Search & Examination Included in premium Survey Charges Seller pays; sometimes Buyer obtains survey or cost divided equally Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Generally, divided equally, but varies by location, and contract, if any, controls Recording Fees Buyer pays to record Deed and Mortgage or Deed of Trust. Seller pays to record documents to remove encumbrances
- 31 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) NEVADA Title Insurance Rates Filed Form of Conveyance Grant Deed; Bargain and Sale Deed; Quitclaim Deed; Trustee’s Deed State Encumbrance Forms Deed of Trust; Mortgage (rare) Customary Closing Entity Title or escrow company; others authorized by NV statutes Commitment Issued? Duration? Upon request; 6 months When is Invoice Issued? When policy issues Deed Transfer Tax? Yes, Real Property Transfer Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays Loan Policy Premium Buyer pays Title Search & Examination Included in premium (extra fees may be assessed for exams requiring time or effort beyond normal course) Survey Charges Buyer: Southern Las Vegas vicinity Negotiable: Northern Reno vicinity Deed Transfer Tax Seller pays but subject to negotiation. Mortgage Tax Not applicable Closing Fees Divided equally; can be negotiated Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 32 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) NEW HAMPSHIRE Title Insurance Rates Filed Form of Conveyance Warranty Deed; Quitclaim Deed State Encumbrance Forms Mortgage Customary Closing Entity Attorney; title company Commitment Issued? Duration? Upon request. 6 months. When is Invoice Issued? At closing Deed Transfer Tax? Yes, Deed Transfer Tax Mortgage Tax? No Leasehold Tax? Leaseholds are not taxed unless they exceed 99 years, including all renewal terms. CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays Deed Transfer Tax Divided equally unless parties contract otherwise Mortgage Tax Not applicable Closing Fees Buyer. Can be negotiated between Buyer and Seller. Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 33 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) NEW JERSEY Title Insurance Rates Filed Form of Conveyance Bargain and Sale Deed with covenants against grantor’s acts State Encumbrance Forms Mortgage Customary Closing Entity Attorney: North NJ; Title Company: South NJ Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment; paid at closing Deed Transfer Tax? Yes, Realty Transfer Fee (RTF); Mansion Tax (over $1 million and applies to residential real estate, most commercial properties, certain farm properties, and cooperative units (co-ops).) Mortgage Tax? No Leasehold Tax? No, if less than 99 years CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays Deed Transfer Tax Seller pays, unless otherwise agreed upon between parties Buyer pays NJ “Mansion Tax” Mortgage Tax Not applicable Closing Fees Buyer pays, sometimes split Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 34 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) NEW MEXICO Title Insurance Rates Promulgated Rate by NM Office of the Superintendent of Insurance Form of Conveyance Warranty Deed; New Mexico Real Estate Contract State Encumbrance Forms Mortgage; Deed of Trust (usually commercial) Customary Closing Entity Licensed Title Insurance Agent Commitment Issued? Duration? Yes. 6 months (may be extended). When is Invoice Issued? At closing (for Commitment when issued) Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays (can be negotiated) Loan Policy Premium Buyer pays Title Search & Examination Included in premium Survey Charges Negotiable. Seller usually pays in residential transaction; Buyer usually pays in commercial transaction. Deed Transfer Tax Not applicable Mortgage Tax Not applicable Closing Fees Commercial: Customarily divided equally between Buyer and Seller. Residential: Seller usually pays. Recording Fees Buyer pays to Mortgage and related documents Seller pays to record Deed and release of encumbrances
- 35 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) NEW YORK Title Insurance Rates Filed Form of Conveyance Warranty Deed (upstate); Bargain and Sale Deed (downstate) State Encumbrance Forms Mortgage Customary Closing Entity Attorney Commitment Issued? Duration? Yes, Commitment or Title Certificate issued. 6 or 9 months. When is Invoice Issued? With Title Report; final invoice presented/paid at closing Deed Transfer Tax? Yes, state, NYC and several local municipalities Mortgage Tax? Yes, NYC; outside of NYC it varies by county Leasehold Tax? Yes, if term exceeds 49 years or contains option to purchase CUSTOMARY FEE SPLITS New York style closing requires simultaneous transfer of documents and consideration at meeting of parties. Recording takes place later. Buyer pays most closing costs, including title insurance. Seller usually pays NYC transfer tax and pays state transfer tax unless contractually negotiated to Buyer. Title Search & Exam charges are included in premium in Zone 2 but not in Zone 1. • Owner’s Policy Premium • Deed Transfer Tax • Loan Policy Premium • Mortgage Tax • Title Search & Examination • Closing Fees • Survey Charges • Recording Fees
- 36 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) NORTH CAROLINA Title Insurance Rates Filed Form of Conveyance Commercial: Special Warranty Deed Residential: General Warranty Deed (typically) Title Cure Only: Non-Warranty Deed State Encumbrance Forms Deed of Trust; Mortgage (rare) Customary Closing Entity Attorney Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Excise Tax (and additional Transfer Tax in some counties) Mortgage Tax? No Leasehold Tax? No, except Currituck and Dare counties CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays, though parties can negotiate and agree otherwise. Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Negotiable Recording Fees Buyer pays to record Deed and Deed of Trust. Seller pays excise and transfer taxes and to record documents that remove encumbrances.
- 37 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) NORTH DAKOTA Title Insurance Rates Filed Form of Conveyance Warranty Deed State Encumbrance Forms Mortgage; Deed of Trust (rare) Customary Closing Entity Title or escrow company; lender; attorney Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Seller pays Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Not applicable Mortgage Tax Not applicable Closing Fees Buyer pays Recording Fees Buyer customarily pays to record new mortgage. Seller pays to record documents to transfer ownership and remove encumbrances.
- 38 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) OHIO Title Insurance Rates Title insurance rates are filed and approved by the Ohio Department of Insurance. Form of Conveyance Warranty Deed, Limited Warranty Deed, Fiduciary Deed, Quitclaim Deed with approval of Underwriting Counsel. State Encumbrance Forms Mortgage Customary Closing Entity Title or escrow company; title agent; others Commitment Issued? Duration? Yes. 180 days. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Real Property Conveyance Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Negotiable; usually divided equally Loan Policy Premium Buyer pays Title Search & Examination Seller pays Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Negotiable; usually divided equally Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 39 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) OKLAHOMA Title Insurance Rates Not filed Form of Conveyance Warranty Deed; Quitclaim Deed (rare, requires underwriter approval) State Encumbrance Forms Real Estate Mortgage; Power of Sale Mortgage (rare) Customary Closing Entity Title or escrow company; others Commitment Issued? Duration? Yes. 180 days from date of abstract certification. When is Invoice Issued? With Commitment or at closing Deed Transfer Tax? Yes, Documentary Stamp Tax Mortgage Tax? Yes Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays for exam; Seller pays for the abstracting Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Seller pays Mortgage Tax Buyer pays Closing Fees Negotiable; usually divided equally Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 40 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) OREGON Title Insurance Rates Title Insurance rates are filed with State rating organization Form of Conveyance Statutory Deeds: Warranty, Special Warranty, Bargain and Sale; Quitclaim with underwriter approval State Encumbrance Forms Deed of Trust; Mortgage (rare); Contract of Sale Customary Closing Entity Licensed escrow agent; title company with escrow license Commitment Issued? Duration? Preliminary Title Report is customary; Commitment available upon request for charge. 90 days. When is Invoice Issued? At closing Deed Transfer Tax? No, except Washington County Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller customarily pays. Buyer customarily pays for extended coverage and endorsements Loan Policy Premium Buyer pays Title Search & Examination Fees included in premium; additional charge for additional chain searches Survey Charges Buyer pays Deed Transfer Tax No tax except in Washington County where it is divided equally Mortgage Tax Not applicable Closing Fees Usually divided equally Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 41 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) PENNSYLVANIA Title Insurance Rates Filed Form of Conveyance Special Warranty Deed; General Warranty Deed State Encumbrance Forms Mortgage Customary Closing Entity Title company; others Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? PA is an all-inclusive rate state. Premium is paid at closing and there is no separate charge for the title commitment. A fee is charged if cancelled. Deed Transfer Tax? Yes, Realty Transfer Tax (state and local municipalities) Mortgage Tax? No Leasehold Tax? Yes, Realty Transfer Tax applies to leases if the term (including options to renew) is 30 years or longer. CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Included in premium Survey Charges Buyer pays Deed Transfer Tax Divided equally between Buyer and Seller. If one of the parties is an exempt party, the other party, if not also exempt is liable for 100% of the tax. Mortgage Tax Not applicable Closing Fees Generally included in premium. Pennsylvania has an all-inclusive premium rate. Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 42 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) RHODE ISLAND Title Insurance Rates Filed Form of Conveyance Warranty Deed; Quitclaim Deed; Bargain & Sale Deed State Encumbrance Forms Mortgage Customary Closing Entity Attorney; title company Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment or at closing Deed Transfer Tax? Yes, Real Estate Conveyance Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays Deed Transfer Tax Seller pays unless otherwise agreed upon between parties Mortgage Tax Not applicable Closing Fees Buyer pays Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances
- 43 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) SOUTH CAROLINA Title Insurance Rates Filed Form of Conveyance General Warranty Deed State Encumbrance Forms Mortgage Customary Closing Entity Attorney Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Deed Recording Fee Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Buyer pays Recording Fees Buyer pays
- 44 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) SOUTH DAKOTA Title Insurance Rates Filed Form of Conveyance Warranty Deed State Encumbrance Forms Mortgage Customary Closing Entity Title or escrow company; lender; attorney Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Real Estate Transfer Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Divided Equally Loan Policy Premium Buyer pays Title Search & Examination Buyer pays or included in premium Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Seller pays Recording Fees Buyer pays to record Mortgage Seller pays to record Deed and documents to remove encumbrances
- 45 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) TENNESSEE Title Insurance Rates Filed Form of Conveyance Warranty Deed; Quitclaim Deed State Encumbrance Forms Deed of Trust; Mortgage (rare) Customary Closing Entity Title or escrow company; attorney Commitment Issued? Duration? Yes. 90 days (can be extended). When is Invoice Issued? With Commitment or at closing Deed Transfer Tax? Yes Mortgage Tax? Yes Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Negotiable Loan Policy Premium Buyer pays Title Search & Examination Negotiable; some counties include in premium Survey Charges Negotiable Deed Transfer Tax Buyer pays Mortgage Tax Buyer pays Closing Fees Divided equally Recording Fees Buyer pays
- 46 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) TEXAS Title Insurance Rates Promulgated Rate by State Insurance Department Form of Conveyance General Warranty Deed; Special Warranty Deed State Encumbrance Forms Vendor’s Lien retained in Deed; Deed of Trust Customary Closing Entity Title company; attorney Commitment Issued? Duration? Yes. 90 days. When is Invoice Issued? At closing Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays Loan Policy Premium Buyer pays Title Search & Examination Included in premium Survey Charges Negotiable (unless residential loan requirements state otherwise) Deed Transfer Tax Not applicable Mortgage Tax Not applicable Closing Fees Negotiable Recording Fees Negotiable; Buyer typically pays to record Mortgage and Seller pays to record Deed and documents to remove encumbrances
- 47 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) UTAH Title Insurance Rates Filed Form of Conveyance Warranty Deed; Special Warranty Deed State Encumbrance Forms Mortgage; Deed of Trust Customary Closing Entity Title or escrow company Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? At closing; sometimes when policy issues Deed Transfer Tax? No Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays, negotiable by contract Loan Policy Premium Buyer pays, negotiable by contract Title Search & Examination Included in premium Survey Charges Buyer pays, negotiable by contract Deed Transfer Tax Not applicable Mortgage Tax Not applicable Closing Fees Divided equally or by contract Recording Fees Negotiable by contract; Buyer usually pays to record Deed and Mortgage and Seller pays to record documents to remove encumbrances
- 48 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) VERMONT Title Insurance Rates Filed up to $2 million. Form of Conveyance Warranty Deed; Quitclaim Deed; Fiduciary’s Deed with a license to sell; Certification of Trust State Encumbrance Forms Mortgage Deed Customary Closing Entity Attorney; paralegal (under direct supervision of attorney in ministerial manner) Commitment Issued? Duration? Almost always. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Property Transfer Tax Mortgage Tax? No Leasehold Tax? Yes, if for a period of at least 50 years; or if the lessee has a purchase option and the right to construct a building or structure, or to make major capital improvements, such as water systems, sewer systems, roads or parking facilities. CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays Deed Transfer Tax Buyer pays; sometimes negotiated Mortgage Tax Not applicable Closing Fees Negotiable Recording Fees Buyer pays to record Deed, and Seller pays to record title clearance documents such as Mortgage and Lien Release. Also negotiable (rare).
- 49 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) VIRGINIA Title Insurance Rates Not filed, but are required to be published and must be used unless direct negotiation with proposed insured. Form of Conveyance General Warranty Deed; Special Warranty Deed State Encumbrance Forms Deed of Trust Customary Closing Entity Attorney, title company, title insurance agent, or bank. All non-attorney settlement agents must be RESA registered; all attorneys handling 1–4 family residential settlement must be RESA registered. Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, state/local Grantee Tax; Grantor Tax Mortgage Tax? Yes, state/local Grantor Tax Leasehold Tax? Yes, state, city, county taxes may apply CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays; can be negotiated Loan Policy Premium Buyer pays; can be negotiated Title Search & Examination Buyer pays; can be negotiated Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Buyer: state/local Grantee Tax; Seller: Grantor Tax Mortgage Tax Buyer pays Closing Fees Negotiable, usually split: Seller pays for deed preparation, anything necessary to clear title, grantor’s tax; Buyer pays for everything else. Recording Fees Buyer pays clerk’s fees Seller pays fees to release prior liens of record
- 50 - REAL ESTATE LAWS & CUSTOMS BY STATE ©2025 Fidelity National Title Insurance Company (08/25) WASHINGTON Title Insurance Rates Filed Form of Conveyance Statutory Deeds: Warranty, Bargain and Sale, Quitclaim; other non-statutory and special deeds State Encumbrance Forms Deed of Trust; Mortgage; Long Term Real Estate Contract (Seller financing) Customary Closing Entity Attorney; Licensed Limited Practice Officer (LPO) Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? At closing Deed Transfer Tax? Yes, Real Estate Excise Tax Mortgage Tax? No Leasehold Tax? Potentially, see WAC 458-61A-106. If the transfer includes improvements, it is taxable. A lease with an option to purchase is taxable at the time the option is exercised. CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller: standard coverage Buyer: endorsements, extended coverage Loan Policy Premium Buyer pays Title Search & Examination Included in premium. Additional work charge may apply depending on complexity of the examination Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Seller’s obligation; Buyer can pay if tax amount is added to taxable sales price Mortgage Tax Not applicable Closing Fees Divided equally; can be varied by agreement Recording Fees Buyer pays
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