Real Estate Laws & Customs - Chicago Title

Page 30 REAL ESTATE LAWS & CUSTOMS BY STATE NEBRASKA Title Insurance Rates Filed Form of Conveyance Warranty Deed; Special Warranty Deed; Trustee’s Deed State Encumbrance Forms Deed of Trust; Mortgage Customary Closing Entity Title or escrow company; others Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment or at closing Deed Transfer Tax? Yes, Documentary Stamp Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Generally, divided equally, but varies by location, and contract, if any, controls Loan Policy Premium Commercial: Generally, Buyer/Borrower pays, but varies by location, and contract, if any, controls Residential: Generally, divided equally, but varies by location, and contract, if any, controls Title Search & Examination Included in premium Survey Charges Seller pays; sometimes Buyer obtains survey or cost divided equally Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Generally, divided equally, but varies by location, and contract, if any, controls Recording Fees Buyer pays to record Deed and Mortgage or Deed of Trust Seller pays to record documents to remove encumbrances