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

- 51 - REAL ESTATE LAWS & CUSTOMS BY STATE WEST VIRGINIA Title Insurance Rates Filed Form of Conveyance General Warranty Deed; Special Warranty Deed; Quitclaim Deed State Encumbrance Forms Deed of Trust; Mortgage (rare) Customary Closing Entity Attorney Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, state/county Excise 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; sometimes negotiated Deed Transfer Tax Seller’s obligation but Buyer can pay Mortgage Tax Not applicable Closing Fees Buyer pays; sometimes negotiated Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances