Real Estate Laws & Customs - Chicago Title

Page 31 REAL ESTATE LAWS & CUSTOMS BY STATE NEVADA Title Insurance Rates Filed Form of Conveyance Grant, Bargain and Sale Deed; Quitclaim Deed; Trustee’s Deed State Encumbrance Forms Deed of Trust; Mortgage (rare) Customary Closing Entity Title or escrow company; others authorized by NV statutes Commitment Issued? Duration? Upon request; 6 months When is Invoice Issued? When policy issues Deed Transfer Tax? Yes, Real Property Transfer Tax Mortgage Tax? No Leasehold Tax? No CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays Loan Policy Premium Buyer pays Title Search & Examination Included in premium (extra fees may be assessed for exams requiring time or effort beyond normal course) Survey Charges Buyer: Southern Las Vegas vicinity Negotiable: Northern Reno vicinity Deed Transfer Tax Seller pays; negotiable in large commercial transactions Mortgage Tax Not applicable Closing Fees Divided equally; can be negotiated Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances