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

- 48 - REAL ESTATE LAWS & CUSTOMS BY STATE VERMONT Title Insurance Rates Filed Form of Conveyance Warranty Deed; Quitclaim Deed; Fiduciary’s Deed with a license to sell State Encumbrance Forms Mortgage Deed Customary Closing Entity Attorney; paralegal (under direct supervision of attorney in ministerial manner) Commitment Issued? Duration? Almost always. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Property Transfer Tax Mortgage Tax? No Leasehold Tax? No, if less than 50 years 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 Buyer pays; sometimes negotiated Mortgage Tax Not applicable Closing Fees Negotiable Recording Fees Negotiable; Buyer usually pays to record Deed and Seller pays to record title clearance documents such as Mortgage and Lien Release