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

- 28 - REAL ESTATE LAWS & CUSTOMS BY STATE 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. 6 months. 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