State Specific Information

connecticut

Connecticut

For title or closing questions please contact Res/Title’s Connecticut State Manager, Catherine M. Jones, Esq. at cjones@res-title.com

 

Laws & Customs
  • Conveyance- Commercial –Quitclaim Deed or Quitclaim with covenants Deed
  • esidential-Warranty Deed
  • Encumbrance- Mortgage
  • Closing Entity- Title Company, Attorney, Notary
  • Mortgage Tax- No
  • Transfer Tax- Yes, state and Municipal Real Estate Conveyance Tax
Fee Split
  • Closing Fee- Buyer pays
  • Title Search/Exam- Buyer Pays
  • Title Policy (Owner/Lender)- Buyer pays
  • Recording- Buyer (Deed and Mortgage) Seller (Release/Discharge)
  • Mortgage Tax- N/A
  • Transfer Tax- Seller Pays
  • Recording- Deed and Mortgage Buyer pays Discharge/Release Seller pays
  • Survey- Buyers
Document Execution
  • Grantee’s Address must be shown in document
  • No requirement that full consideration be recorded in deed
  • Corporate Execution- Attested- No and No corporate seal required
  • Notary Stamp/Seal – no requirement that it must be impressed
Recognized Tendencies
  • Tenancy in Common
  • Joint Tenancy
  • Tenancy by the entirety is not recognized

 

Legal Information
  • Power of Attorney Signatures- Executed in the same manner as a deed, with two witnesses and an acknowledgement
  • Recorded Documents do not require name and address of prepare route of Title- last conveyance of title prior to 40 years from the date of the title search
  • Back Title- Yes, back title is allowed
  • Homestead Filing and Recording- No filing or recording is required
  • Is CT a community property state? No, CT is not a community property state adverse possession timeframe- 15 Years
  • Statute of Limitations on Judgments- 20 years from date of judgment, unless the judgment is from
    small claims court, in which the lien expires after 15 years
  • Statute of Limitations on Judgments- Attachments/Judgments automatically expire 20 from the date of recording

 

maine

Maine

For any title or closing questions in Maine please contact Res/Title’s National Desk at nationaldesk@res-title.com.

 

 

Laws & Customs
  • Conveyance- Commercial –Quitclaim Deed or Quitclaim with covenants Deed
  • Residential-Warranty Deed
  • Encumbrance- Mortgage
  • Closing Entity- Title Company, Attorney, Notary
  • Mortgage Tax- No
  • Transfer Tax- Yes
Fee Split
  • Closing Fee- Buyer pays
  • Title Policy (Owner/Lender)- Buyer pays
  • Recording- Buyer (Deed and Mortgage) Seller (Release/Discharge)
  • Survey- Buyer
  • Title Search/Exam- Buyer pays Penobscot County- Seller pays
  • Mortgage Tax- N/A
  • Transfer Tax- Divided equally between buyer and seller
Document Execution
  • Address- Number, street, municipality and state must be on document
  • Consideration-full consideration must be listed
  • Corporate Execution- information unavailable
  • Notary Seal/Stamp- No
Recognized Tendencies
  • Tenants in Common
  • Joint Tenancy (requires express language)

 

massachusetts

Massachusetts

If you have any title or closing questions please contact our Massachusetts State Manager, Attorney Jennifer Thulin, at jthulin@res-title.com

 

Laws & Customs
  • Conveyance- Quitclaim Deed
  • Encumbrance- Mortgage
  • Closing Entity- Attorney
  • Mortgage Tax- No
  • Transfer Tax- Yes (on deed)
Fee Split
  • Closing Fee- Buyer Pays
  • Title Search/ Exam- Buyer Pays
  • Title Policy (Owner/Lender) Buyer Pays
  • Mortgage Tax- N/A
  • Transfer Tax- Seller Pays
  • Recording- Deed and Mortgage Buyer pays Release/Discharge Seller pays
  • Survey- Buyer Pays
Document Execution
  • Address of each party must be in documents
  • Full Consideration must be showed in the deed
  • Corporate Execution- President/ Treasurer
  • Notary Stamp/Seal must be impressed
Recognized Tendencies
  • Tenancy in Common
  • Joint Tenancy
  • Tenancy by the Entirety

 

Legal Information
  • Power of Attorney Signatures- The power of attorney has to be recorded giving the authority to execute deed, mortgages and notes.
  • Recorded Documents- only require a return address for after recording
  • Route of Title- M.G.L. Ch. 93 section 70, For the purposes of this section, said certification shall include a title examination which covers a period of at least fifty years with the earliest instrument being a warranty or quitclaim deed which on its face does not suggest a defect in said title; provided, however, that in the case of registered land, it shall be sufficient to start the said examination with the present owner’s certificate of title issued by the land court, except that bankruptcy indices and federal and state liens shall be examined. The term record title, as used herein, shall mean the records of the registry of deeds or registry district in which the mortgaged premises lie and relevant records of registries of probate.
  • Back Title- Yes, on a refinance but it should be a two owner rundown
  • Homestead Filing and Recording- M.G.L. chapter 188, owner-occupied, residential.
  • M.G.L. CH. 188, sec 4There is in MA an automatic $125,000.00 without recording a Declaration of Homestead.
  • M.G.L. Ch. 188, sec 3Title holders should declare a homestead, Declaration of Homestead shall be recorded to protect $500,000.00 and the fee to record same is $35.00, if both spouses are on title then both spouses must sign homestead, if they aren’t both on title, then the non-title spouse must be named in the homestead to be recorded.
  • M.G.L. Ch. 188, sec 2, declaration of Homestead for Elderly age 62 and over and to disabled persons in an amount of $500,000, must be recorded for this one.
  • Homestead is automatically subordinated to mortgages i.e. when you refinance
  • On a sale if tittle is held individually, then, seller must note in deed not married. If not married an affidavit stating not married shall be recorded M.G.L. Ch. 188, Ch. 13 shall be recorded. And if seller is married then spouse has to executed deed releasing all rights of homestead
  • Is Massachusetts a community property state- If both spouses are on the deed, both spouses must sign at least the “title documents” Mortgage, Truth In Lending, Right to Rescind. If only one spouse is on the deed, then only one spouse has to sign documents
  • Adverse Possession timeframe- 20 years of actual possession
  • Statute of Limitations on Judgments- 20 years after recording

 

new-hampshire

New Hampshire

For any title or closing questions in New Jersey please contact Res/Title’s National Desk at nationaldesk@res-title.com.

 

 

Laws & Customs
  • Conveyance- Warranty Deed or Quitclaim Deed
  • Encumbrance- Mortgage
  • Closing Entity- Attorney or Title Company
  • Mortgage Tax- No
  • Transfer Tax- Yes
Fee Split
  • Closing Fee- Negotiable between buyer and seller
  • Title Policy (Owner/Lender)- Buyer pays
  • Recording- Buyer (deed & mortgage) Seller (Discharge/Release)
  • Survey-buyer pays
  • Title Search and Exam-Buyer pays
  • Mortgage Tax- N/A
  • Transfer Tax- Divided Equally and paid at closing
Document Execution
  • Address- information unavailable
  • Consideration- information unavailable
  • Corporate Execution- information unavailable
  • Notary Seal- Information unavailable
Recognized Tendencies
  • Tenants by the entirety- constitutes clear expression of intention to create joint tenancy

new-jersey

New Jersey

For any title or closing questions in New Jersey please contact Res/Title’s National Desk at nationaldesk@res-title.com.

 

 

Laws & Customs
  • Conveyance- Bargain and Sale Deed with Covenants against grantor’s acts most common
  • Encumbrance- Mortgage
  • Closing Entity – North NJ- Attorney by custom South NJ Title Company by custom
  • Title Companies authorized to conduct closings throughout state
  • Mortgage Tax- No
  • Transfer Tax- Yes- Realty Transfer Fee (RFT) A condition precedent to the recording of a deed is payment of Realty Transfer Tax, or in the alternative, presentation of proof that no tax is due. The tax is imposed upon the grantors of deeds conveying fee simple estates and leaseholds of ninety nine years or more in duration. Also included are co-operative apartment propriety leases and assignments thereof. If it later appears that and exemption was improvidently granted, or that additional tax is due, the State has the right to recover the same from the seller, but this determination will not affect the grantee’s title.
  • In addition pursuant to NJ AB 4701, New Jersey also imposes a Mansion Tax for sales of property in excess of 1 million which apply to commercial as well as residential properties. The tax is 1% and payable to the grantee. More specifically the grantee (Buyer) of real property classified for real property tax purposes as class 4A “Commercial properties” must pay an additional fee for recording of the deed of one percent of the full amount of the consideration paid. Class 4A commercial properties include any kind of income producing property that is not classified as vacant land, residential property, farm property, industrial property, or apartments
Fee Split
  • Conveyance- Bargain and Sale Deed with Covenants against grantor’s acts most common
  • Encumbrance- Mortgage
  • Closing Entity – North NJ- Attorney by custom South NJ Title Company by custom
  • Title Companies authorized to conduct closings throughout state
  • Mortgage Tax- No
  • Closing- Buyer (parties sometimes agree to split)
  • Title Policy (owner and lender) Buyer pays
  • Title Search/Exam- Buyer
  • Mortgage Tax- N/A
  • Transfer Tax- Seller customarily pays Realty Transfer Fee (RTF) although parties may contractually agree to a different arrangement. Obligation to pay tax is statutorily imposed on seller. Therefore, in the event of a deficiency, State will look to Seller for payment.
Document Execution
  • Conveyance- Bargain and Sale Deed with Covenants against grantor’s acts most common
  • Address- not required but recommended to be on documents
  • Consideration-Full Consideration must be recited in deed
  • Corporate Execution- not attested and no seal required
  • Notary Seal/Stamp- no requirement that stamp/seal be imprinted
Recognized Tendencies
  • Tenancy in Common
  • Joint Tenancy
  • Tenancy by the entirety

 

Legal Information
  • Recorded Documents- require name and signature of preparer (but not address)
  • Route of Title- 40 years
  • Back Title- New Jersey allows but most title companies will charge re-issue rate when this occurs
  • Homestead Filing and Recording- No homestead exemption in NJ
  • Is NJ a community property state- Yes, spousal signature is required if the property is used as a marital residence, even if spouse is not on title
  • Adverse Possession timeframe- 30 years
  • Statute of Limitations of Judgments- 20 years

new-york

New York

To Visit our New York Compliance Site for access to specific documents, resources and Links Click Here:

Presentation1

 

For title or closing questions please contact Res/Title’s New York State Manager, Joy Diviny, Esq, at jdiviny@res-title.com

 

Res/Title also has a dedicated CEMA Department for any CEMA questions or concerns. Please contact the CEMA Department at cema@res-title.com

 

Laws & Customs
  • Conveyance-Bargain and Sale Deed (prevalent downstate), Warranty Deed (prevalent upstate)
  • Encumbrance- Mortgage
  • Closing Entity- Attorney Refinance handled by attorney or settlement agent
  • Mortgage Tax-Yes
  • Transfer Tax- Yes
Fee Split
  • Closing Fee- New York style closing requires simultaneous transfer of documents and consideration at meeting of parties. Recording takes place later. Most closing cost, including title insurance are paid by the buyer
  • Title Policy (Owner/Lender)- Buyer
  • Title Search/Exam- New York style closing requires simultaneous transfer of documents and consideration at meeting of parties. Recording takes place later. Most closing cost, including title insurance are paid by the buyer. Seller usually pays NYC transfer tax and pays state transfer tax unless contractually negotiated to buyer. Search and Exam charges are included in the premium in Zone 2 but not in Zone 1.
  • Downstate (Zone 2, includes New York City), search and exam charges are included in the premium unless special circumstances exist
  • Upstate (Zone 1), an abstract of title is used and the exam charges are not included. In Western New York, generally the seller pays the search and exam fees.
  • Mortgage Tax- Buyer; however on residential transactions, tax of 0.25 per $100 of the loan amount is payable by the lender
  • Transfer Tax- State: paid by seller unless contractually negotiated to buyer; New York City- usually paid by seller; Mansion Tax: Payable by buyer and relates to conveyances of residential real property over one million dollars; Other Municipalities: Confirm with counsel
  • Recording- New York style closing requires simultaneous transfer of documents and consideration at meeting of parties. Recording takes place later. Most closing cost, including title insurance are paid by the buyer
  • Survey- New York style closing requires simultaneous transfer of documents and consideration at meeting of parties. Recording takes place later. Most closing cost, including title insurance are paid by the buyer
Document Execution
  • Address of each party must be shown in document
  • No requirement that full consideration be recited in deed
  • Corporate Seal required if the corporation has one
  • Notary Seal/Stamp no requirement the stamp/seal must be imprinted
Recognized Tendencies
  • Tenancy in Common
  • Joint Tenancy
  • Tenancy by the entierty

 

Legal Information
  • Power of Attorney Signatures
  • Recorded Documents- do not require the name and address of the preparer
  • Route of Title- For refinance to last owner
  • For Purchase 50 years
  • Back Title- Yes back title is allowed
  • Homestead Filing and Recording- No Homestead in New York
  • Is New York a community property state- No
  • Adverse Possession Timeframe- 10 years
  • Statute of Limitations on Judgments- 10 years

pennsylvania

Pennsylvania

For any Pennsylvania title or closing questions please contact Res/Title’s Pennsylvania State Manager, Brooke Solomon, at bsolomon@res-title.com

 

Laws & Customs
  • Conveyance- Special Warranty Deed or General Warranty Deed
  • Encumbrance- Mortgage, Deed of Trust (Rare)
  • Closing Entity- Title Company, Escrow Company or Others
  • Mortgage Tax- NO
  • Transfer Tax- Yes, state, local, and school taxes
Fee Split
  • Closing Fees- Buyer pays
  • Title Policy (Owner/Lender)- Buyer pays
  • Recording- Deed & Mortgage buyer pays Release/Discharge seller pays
  • Survey-Buyer pays
  • Title Search/Exam- included in premium (buyer pays)
  • Mortgage Tax- N/A
  • Transfer Tax- divided equally between buyer and seller
Document Execution
  • Address
  • Consideration- No requirement (if nominal in deed, must present PA Realty Transfer Tax Statement of Value to record with deed)
  • Corporate- N/A, except in Philadelphia need attestation & seal
  • Notary Seal- There is no requirement that notary’s seal/stamp must be impressed/imprinted. However, the stamp must be legible.
Recognized Tendencies
  • Tenancy in Common
  • Joint Tenancy
  • Tenancy by the entirety

 

rhode-island

Rhode Island, The Ocean State

For any Rhode Island title or closing questions please contact Res/Title’s Rhode Island State Manager, Olivia Byron, at obyron@res-title.com.

 

Laws & Customs
  • Conveyance- Warranty Deed, Quitclaim Deed, Bargain and Sale Deed
  • Encumbrance- Mortgage
  • Closing Entity- Attorney; Title Company
  • Mortgage Tax- No
  • Transfer Tax- Yes
Fee Split
  • Closing Fee- Buyer pays
  • Title Search/Exam- Buyer pays
  • Title Policy (Owner Lender)- Buyer Pays
  • Mortgage Tax- N/A
  • Transfer Tax- Seller pays
  • Recording- Deed and Mortgage Buyer pays
  • Release/Discharge- Seller Pays
  • Survey- Buyer pays
Document Execution
  • Address of each party must be shown in documents
  • All deeds must have dollar amount of actual sale endorsed
  • Corporate Execution- Not attested and no seal required
  • Notary Stamp/Seal- impressed if out of state
Recognized Tendencies
  • Tenancy in Common
  • Joint Tenancy
  • Tenancy by the Entirety

 

Legal Information
  • Power of Attorney Signatures- Name of Individual, by his/her attorney in fact, and signature of POA
  • Recorded Documents- Do not require the name and address of preparer
  • Route of Title- for purchases 40 years
  • Back Title- Yes, back title is allowed
  • Homestead Filing and Recording- Only need to file with City Tax Collector, no recording
  • Is RI a community property state- No
  • Adverse Possession Timeframe- 10 years required for continuous possession
  • Statute of Limitations on Judgments- Attachments/Judgments automatically expire 20 from the date of recording

vermont

Vermont

If you have any title or closing questions in Vermont please contact Res/Title’s National Desk at nationaldesk@res-title.com

 

Laws & Customs
  • Conveyance- Warranty Deed, Quitclaim Deed, Fiduciary Deed with a license to sell
  • Encumbrance- Mortgage Deed
  • Closing Entity: Attorney or a paralegal under direct supervision of attorney)
  • Mortgage Tax- No
  • Transfer Tax- Yes (Land Gains Tax and Non-Resident Withholding Tax)
  • small claims court, in which the lien expires after 15 years
Fee Split
  • Closing Fee-Negotiable between buyer and seller
  • Title Policy (Owner and Lender) – Buyer
  • Recording- Buyer (Deed) Seller (Discharge/Release)
  • Survey- Buyer
  • Title Search/Exam- Buyer
  • Mortgage Tax- N/A
  • Transfer Tax-Buyer by statute (can be negotiated between buyer and seller)
Document Execution
  • Address- not required but recommended
  • Consideration- not actual but reference nominal consideration
  • Corporate Execution: Information Unavailable
  • Notary Seal/Stamp: No seals
Recognized Tendencies
  • Tenants in Common
  • Joint Tenancy
  • Tenancy by the entirety (husband and wife)

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