Page 24 - Real Estate Laws and Customs - State by State Guide by Old Republic Title

State Locations

A STATE - BY - STATE GUIDE
REAL ESTATE LAWS AND CUSTOMS MARYLAND

Title Insurance Rates MARYLAND
Filed

Form of Conveyance MARYLAND
Warranty Deed

State Encumbrance Forms MARYLAND
Deed of Trust; Mortgage

Customary Closing Entity MARYLAND
Title Company; Attorney

Commitment Issued? Duration? MARYLAND
Yes; 6 Months

When Is Invoice Issued? MARYLAND
At Closing Unless Requested Earlier

Deed Transfer Tax? MARYLAND
Yes; State and Some Counties

Mortgage Tax? MARYLAND
Yes; Recordation Tax

Leasehold Tax? MARYLAND
Yes; Ground and Commercial ≥ 7 Years

Remote Online Notarization (RON) Status MARYLAND
In Effect
CUSTOMARY SPLITS

Owner’s Policy Premium MARYLAND
Buyer Pays

Loan Policy Premium MARYLAND
Buyer Pays; Buyer or Borrower

Title Search and Exam Fees MARYLAND
Buyer Pays; Buyer or Borrower

Survey Charges MARYLAND
Buyer Pays; Buyer or Borrower

Deed Transfer Tax MARYLAND
50/50 or Negotiable
Absent First Time Home Buyer; Same Holds for Recordation Taxes on Deed

Mortgage Tax MARYLAND
Buyer Pays Recordation Tax on Mortgage/Deed of Trust

Closing Fees MARYLAND
Buyer Pays; Negotiable

Recording Fees MARYLAND
Buyer Pays to Record Deed and Deed of Trust
Seller Pays to Record any Releases

UCC coverage is available; for assistance with your transaction contact UCC@oldrepublictitle.com 24

oldrepublictitle.com/ncs Updated 07/2023