Page 37 - 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 NORTH CAROLINA

Title Insurance Rates NORTH CAROLINA
Filed

Form of Conveyance NORTH CAROLINA
General Warranty Deed; Special Warranty Deed

State Encumbrance Forms NORTH CAROLINA
Deed of Trust; No Mortgage

Customary Closing Entity NORTH CAROLINA
Attorney

Commitment Issued? Duration? NORTH CAROLINA
Yes; 6 Months

When Is Invoice Issued? NORTH CAROLINA
With Commitment

Deed Transfer Tax? NORTH CAROLINA
Yes; Excise Tax

Mortgage Tax? NORTH CAROLINA
No

Leasehold Tax? NORTH CAROLINA
No; Some Counties if Lease is ≥ 10 Years

Remote Online Notarization (RON) Status NORTH CAROLINA
In Effect
CUSTOMARY SPLITS

Owner’s Policy Premium NORTH CAROLINA
Buyer Pays

Loan Policy Premium NORTH CAROLINA
Buyer Pays

Title Search and Exam Fees NORTH CAROLINA
Buyer Pays

Survey Charges NORTH CAROLINA
Buyer Pays Survey; Seller Pays Inspection

Deed Transfer Tax NORTH CAROLINA
Seller Pays (Called Excise Tax in NC)

Mortgage Tax NORTH CAROLINA
Not Applicable

Closing Fees NORTH CAROLINA
Buyer Pays; Negotiable

Recording Fees NORTH CAROLINA
Buyer Pays Deed of Trust
Seller Pays Deed

UCC coverage is available; for assistance with your transaction contact UCC@oldrepublictitle.com 37

oldrepublictitle.com/ncs Updated 07/2023