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

- 44 - REAL ESTATE LAWS & CUSTOMS BY STATE SOUTH DAKOTA Title Insurance Rates Filed Form of Conveyance Warranty Deed State Encumbrance Forms Mortgage Customary Closing Entity Title or escrow company; lender; attorney Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Real Estate Transfer Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Divided Equally Loan Policy Premium Buyer pays Title Search & Examination Buyer pays or included in premium Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Seller pays Recording Fees Buyer pays to record Mortgage Seller pays to record Deed and documents to remove encumbrances