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

- 40 - REAL ESTATE LAWS & CUSTOMS BY STATE 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