Page 1 - Real Estate Law and Custom by State
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REAL ESTATE LAWS & CUSTOMS BY STATE CUSTOMARY FEE SPLITS: Buyer Seller Buyer pays to record deed & mortgage;
Pays Pays Seller pays to record documents to remove encumbrances
State Title Ins Forms of Encumbrance Customary Commitment When is Invoice Deed Transfer Mortgage Leasehold Policy Premium Title Search Survey Taxes Closing Recording
Rates Conveyance Forms Closing Entity Issued? Duration? Issued? Tax Tax Tax & Exam Charges Fees Fees
Warranty Deed Title Company; approved Owner’s Loan Negotiable Transfer Mortgage
Mortgage attorney; bank Y 6 months Y Y Negotiable Negotiable Seller can pay Information To Go!
ALABAMA Filed With commitment or at closing Y Deed Tax Negotiable (Seller in Negotiable
some counties) Chicago Title is pleased to provide you with this handy
state-by-state chart of laws, customs and fee splits.
ALASKA Filed Warranty Deed; Deed of Trust; Mortgage Title or escrow company; Y 6 months At closing N N N Negotiable Included in Premium Negotiable N/A N/A Negotiable; usually divided Negotiable; usually divided Our team of professionals partners with the top real
ARIZONA Filed Quitclaim Deed Deed of Trust; Mortgage others Y 6 months Included in Premium N/A equally equally estate professionals, lenders, builders and attorneys
ARKANSAS Not Filed Warranty Deed; Y 6 months N/A nationwide. By pooling our expertise in the industry and
Special Warranty Deed; Mortgage (preferred); Title or escrow company; When policy issues N N N Buyer: Negotiable Unless contracted otherwise N/A N/A Divided equally within a speciï¬c neighborhood, we are able to o er a
Quitclaim Deed Deed of Trust others Upon request; 180 days Extended Included in Premium Negotiable Divided N/A full suite of solutions to enhance the consumer experi-
Coverage Policy Included in Premium Negotiable equally N/A ence in each and every real estate transaction.
Warranty Deed Title of abstract company; Y 6 months Negotiable Varies for N/A Our best-in-class real estate services include full title
attorney With commitment Y Deed Transfer Tax N N Divided equally exam and underwriting capabilities, full escrow and
Upon request; 6 months When policy issues cities N/A Varies by county; usually split closing services including construction disbursing,
CALIFORNIA Filed Grant Deed Deed of Trust Title or escrow company; With commitment Y Documentary Transfer N Y If more than 35 years Varies by Negotiable N/A recording, special projects and 1031 property exchanges.
others Y 6 months Tax; some local (including renewal county N/A Divided equally or by
Y 6 months municipalities Negotiable N/A contract Real Property, Real Title Insurance.
Title or escrow company; Y 6 months options) N/A It Put Us on the Map; All Over It.
others Y 6 months Negotiable
COLORADO Filed Warranty Deed; Deed of Trust; Mortgage Y 90 days Y Documentary Transfer N N Negotiable Negotiable Contact us today for your next transaction:
CONNECTICUT Filed Special Warranty Deed Mortgage Deed Attorney Y 6 months Tax
Filed Mortgage Y 6 months
DELAWARE Deeds: Warranty; Quitclaim; Attorney Y 90 days With Commitment Y State/Municipal Real N N If less than 99 years
Ltd Wty; Special Wty; Trustee; Title or escrow company; Y 6 months Estate Conveyance Tax (including renewals)
Executor’s; Certi cate of Devise Y 6 months
others With Commitment Y Realty Transfer Tax N N Except residential leases Negotiable Divided Negotiable
Deeds: Special Warranty; Attorney; title company; more than 5 years Negotiable equally Divided equally or by
Quitclaim; General Wty. Negotiable Buyer:
lender Recordation; contract
DISTRICT OF COLUMBIA Filed Special Warranty Deed (very rare: Deed of Trust; Mortgage Attorney; escrow agent With Commitment Y Transfer Tax & Recordation Y Recordation Tax Y If more than 30 years Seller: Transfer Unless contracted otherwise
General Wty & Quitclaim) (rare) With commitment or at closing Tax Documentary Tax; (including extensions)
(commercial) Commercial: Negotiable
FLORIDA Promul- Y Documentary Tax Y Intangible Tax N Unless assignment of Some counties Negotiable negotiable; Buyer: Mortgage;
gated Warranty Deed Mortgage (Miami-Dade County has lease for consideration negotiable; buyer if Included in Premium Residential: Buyer Divided equally Seller: Deed
Surtax)
residential Divided equally Buyer: Mortgage;
Divided equally or by Seller: Deed
GEORGIA Filed Warranty Deed; Ltd. Wty. Security Deed (aka Deed to With commitment Y Real Estate Transfer Tax Y Intangible Recording tax N Negotiable
Deed; Quitclaim Deed Secure Debt); Mortgage contract Negotiable; usually Buyer:
Commercial: negotiable; Deed of Trust; Mortgage;
HAWAII Not Filed Deeds: Warranty; Ltd Wty; Mortgage Title or escrow company; others (must be At closing Y State Conveyance Tax N Y Leases over 5 years Seller 60%
Quitclaim; Apartment (condos) licensed escrow depository) subject to Conveyance Buyer 40% Residential: Buyer Seller: Deed
Negotiable
Tax
IDAHO Filed Warranty Deed; Corporate Deed; Deed of Trust; Mortgage Title or escrow company; Varies by o ce N N N Included in Premium Negotiable N/A
Quitclaim Deed (on occasion) (over 40 acres) attorney; others Varies for
ILLINOIS Not Filed Warranty Deed Mortgage; Deed of Trust Title company; attorney; others With commitment Y Real Estate Transfer Tax N Y Certain leasehold transfers cities
With commitment (State, County, sometimes may be subject to tax N/A
local) N/A
INDIANA Filed Warranty Deed Mortgage Title company; others NN N Varies by county
Mortgage Attorney or Iowa-based escrow Buyer: post-closing charges;
N/A; policies Warranty Deed; Quitclaim Deed; Mortgage With commitment Y Real Estate Revenue NN Negotiable Residential Seller; pre-closing abstract Negotiable
Trustees Deed; etc. company Stamp Tax dependent on Sometimes Buyers obtains
IOWA written Title or escrow company; mortgage type charges survey or cost divided equally
outside state Varies by county
others
KANSAS Filed Warranty Deed; Special Wty Deed; With commitment or at closing N Y Mortgage Registration N Divided equally
Trustee’s Deed Tax
KENTUCKY Filed Warranty Deed; Special Wty Deed; Mortgage Attorney; title company Y 6 months With commitment Y Deed Transfer Tax N N Except New Orleans Negotiable N/A Negotiable Buyer: recording fees;
LOUISIANA Trustee or Fiduciary Deed Y 6 months With commitment Documentary Tax Small Seller’s closing fee in Seller: doc prep fees
Y 6 months Negotiable Seller: Deed, release
MAINE Filed Warranty Deed; Act of Sale Act of Mortgage Notaries public who generally Y 6 months At closing N Except New Orleans N Except New Orleans N Negotiable Negotiable Negotiable Negotiable N/A; Seller: N/A; Seller: most parishes encumbrances; Buyer: all Strength I Expertise I Service
MARYLAND Filed are attorneys At closing unless requested Documentary Transaction Documentary Tax Seller in Penobscot County Negotiable New Orleans New Orleans www.CTIC.com
Filed Upon request; 6 months Recordation Tax Negotiable Doc Trans Tax Doc Trans Tax Negotiable other docs
earlier Tax
Y 6 months At closing Mortgage Registration Divided N/A
Commercial: Quitclaim Deed; Mortgage Title company; attorney; notary Y 6 months With commitment Y Real Estate Transfer Tax N Tax N equally
Quitclaim with covenant; Y 6 months With commitment
Residential: Warranty Deed Deed of Trust; Mortgage Title company; sole practitioner; law rm; With commitment Y State: Transfer Tax; Y Y Ground and commercial Divided
(rare) underwriter direct o ce County: Transfer & more than 7 years equally
Special Warranty Deed Recordation Tax
MASSACHUSETTS Not Filed Quitclaim Deed Mortgage Attorney Y NDeed Excise Tax (Martha’s Vineyard N Except parts of N/A Negotiable
Mortgage Title or escrow company; & Nantucket impose additional Worcester County Divided equally (sometimes
Mortgage transfer fee) Included in Premium
Deed of Trust attorney; others Seller: evidence of ownership; N/A Buyers pays additional loan
MICHIGAN Filed Deeds: Warranty; Quitclaim; Title or escrow company; Y State/County Real Estate N N Buyer: to examine evidence closing fees)
MINNESOTA Filed Covenant; Trustee’s; Personal Transfer Tax
attorney; lender Shared by parties
Representative’s Attorney Y State Deed Tax Y N Negotiable This information is furnished as a service to our customers. Although great care has been taken to
provide accurate and complete information, state laws and procedures change. Please contact Chicago
Deeds: Warranty; Ltd Warranty; Title for updated information or consult a local attorney for speciï¬c questions of law.
Quitclaim; Trustee’s; Personal
Representative’s
MISSISSIPPI Not Filed Warranty Deed; Quitclaim Deed N N N Negotiable N/A N/A Divided equally
(with underwriter approval)
MISSOURI Risk Rates Warranty Deed; Special Wty Deed; Deed of Trust Title or escrow company; Y 6 months With commitment or at closing N N N Varies by Varies by county Sometimes divided equally or N/A N/A Divided equally
are Filed Trustee’s Deed others county Buyer obtains survey
This information is furnished as a service to our customers. Although great care has been taken to provide accurate and complete information, state laws and procedures change. Please contact Chicago Title Insurance Company or visit www.CTIC.com or www.Chicago.NTIWeb.com for updated information or consult a local attorney for speciï¬c questions of law. CTT Green_REC_2016 © 2016 Chicago Title
