Ohio Title Insurance Rates & Conveyance Fee Calculator
Calculate
the Ohio title insurance rate & estimate the OH transfer tax, known
as the Ohio conveyance fee. Title insurance rates are REGULATED by
the State of Ohio, therefore, title insurance rates should not vary
between title insurance companies. Seller's can estimate their closing costs with the
What is "reissue" rate?
Title insurance companies offer a discounted title insurance rate under certain circumstances. For example:
Provided that the transaction qualifies for reissue rate as provided hereinafter and provided, further, that the Company is notified that a prior policy has been issued by a title insurance company licensed in Ohio and is furnished a copy of said policy or other information sufficient to enable the Insurer to identify said prior policy upon which reissue is requested, the new policy will be issued for 70% of the Original Rate for Owner’s Policies. If otherwise applicable, the reissue rate shall apply up to the face amount of the previous policy. If more insurance is required under a reissue policy than was written in the original policy, the amount in excess shall be the Original Rate under the applicable bracket or brackets for such excess amount. The minimum premium for any policy shall be $175.00 for Standard Owner’s Policies and $200.00 for Homeowner’s Policies.
Reissue rate is applicable in the following circumstances: (a) If the seller or lessor is an insured under an Owner’s Policy of title insurance, and said policy has been outstanding for less than ten (10) years, a new policy may be issued to the new purchaser or lessee for the reissue rate stated above, up to the face amount of the previous policy. Any insurance in excess of the prior policy will be provided at the Original Rate in the applicable bracket or brackets for such excess amount. Such rate shall not apply to an insured lessee applying for an Owner’s Policy. See Section 5 hereafter. SOURCE: Title insurance manual
Who pays for the title insurance in Ohio?
IIn most Ohio counties, the buyer pays both the owners and loan (lender's) title policy. In the Cleveland area, it's not uncommon for the seller and home buyer to split the owners policy cost.
What is simultaneous issue?
The title insurers offer a reduced rate for the loan policy when the owner's policy is purchased.