Real Estate Laws & Customs - Chicago Title

Page 9 REAL ESTATE LAWS & CUSTOMS BY STATE CONNECTICUT Title Insurance Rates Filed Form of Conveyance Warranty Deed; Quitclaim Deed; Limited Warranty Deed; Special Warranty Deed; Trustee Deed; Executor’s Deed; Certificate of Devise State Encumbrance Forms Mortgage Deed Customary Closing Entity Attorney Commitment Issued? Duration? Upon request. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, State/Municipal Real Estate Conveyance Tax Mortgage Tax? No Leasehold Tax? No, if less than 99 years (including renewals) 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 Seller pays Mortgage Tax Not applicable Closing Fees Negotiable Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents and remove encumbrances