Georgia Title Insurance Rate & Intangible Tax Calculator
Easily estimate the title insurance premium and transfer tax in Georgia, including the intangible mortgage tax stamps. Title insurance is a closing cost for purchase and refinances mortgages. Title insurance rates will vary between title insurers in Georgia. This title calculator will estimate the title insurance cost for 1 - 4 unit residential and refinance transactions. Please send me an E-mail if you see an error or want to make a comment.
Who pays the transfer tax in Georgia?
By custom, the seller pays the state transfer tax and the buyer pays the intangible tax (mortgage tax). Although, the sales contract defines who pays what tax.
Am I required to use an attorney for settlement?
The Georgia Supreme Court released an opinion saying that it is improper for a non-attorney to complete a loan in Georgia. This ruling applies to both re-finances and purchase transactions.
Because the State Bar of Georgia only has authority over lawyers, this may not matter much to you if you are not an attorney. Many lenders believe that it is unlawful for a non-attorney to complete a loan in Georgia. Others believe it is acceptable for a notary who is not an attorney to finalize loans.
While I do not feel that it is necessary or unlawful for a non-attorney to close loans, I believe that the customer is far better served by having an attorney complete their loans.
SOURCE: Chalker & Chalker, P.C
Are the title insurance rates the same in Georgia?
Georgia is now a “file and use” state. This means that each title insurer files its published title rates with the Georgia Insurance Commissioner and title agents are not allowed to deviate from such rates when quoting premiums. The title insurance premiums will vary from title company to company. It pays to shop for title insurance rates in Georgia.