- 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
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