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

- 42 - REAL ESTATE LAWS & CUSTOMS BY STATE RHODE ISLAND Title Insurance Rates Filed Form of Conveyance Warranty Deed; Quitclaim Deed; Bargain & Sale Deed State Encumbrance Forms Mortgage Customary Closing Entity Attorney; title company Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment or at closing Deed Transfer Tax? Yes, Real Estate Conveyance Tax Mortgage Tax? No Leasehold Tax? No 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 Seller pays unless otherwise agreed upon between parties 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