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

- 3 - REAL ESTATE LAWS & CUSTOMS BY STATE 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? Varies by office 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)