Real Estate Laws & Customs By State - Fidelity National Title Insurance Company

- 12 - REAL ESTATE LAWS & CUSTOMS BY STATE FLORIDA Title Insurance Rates Promulgated Rate by Florida Office of Insurance Regulation Form of Conveyance Warranty Deed State Encumbrance Forms Mortgage Customary Closing Entity Attorney; title company; lender 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 Buyer pays Closing Fees Seller pays unless otherwise indicated in contract Recording Fees Buyer pays to record Mortgage Seller pays to record Deed