Cheat Sheet - STANDARDS FOR WHO PAYS FOR TITLE INSURANCE BY COUNTY

Cheat Sheet - STANDARDS FOR WHO PAYS FOR TITLE INSURANCE BY COUNTY

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AND THE SURVEY SAYS: WHO PAYS FOR TITLE INSURANCE BY COUNTY? 
-BY CONNIE CLARK, FUND SR. UNDERWRITING COUNSEL

The party who customarily pays the owner’s title insurance policy premium in a residential transaction in Florida varies by county. In at least one county, who pays the premium depends on where the property is located within the county.

 The terms of a real estate contract are always freely negotiable, but that some closing costs are traditionally paid by the buyer or the seller.

Who pays the documentary stamp tax on the deed in a residential transaction? The unanimous response was that the seller pays this fee. This practice may have arisen as part of the seller’s obligation to transfer title to the buyer and is a standard contractual obligation of the seller in every residential form contract in wide use in Florida.....

 

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