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 Seller Cost Calculator. Please send me an E-mail if you see an error or want to make a comment.
What is "reissue" rate?
Title insurance companies offer a discounted title insurance rate under certain circumstances. For example:
The new policy will be issued if the transaction qualifies for the reissue rate as described below, and if the company is notified that a prior policy has been issued by a title insurance company licensed in Ohio and is provided with a copy of said policy or other information sufficient to enable the insurer to identify said prior policy upon which reissue is requested.
If not otherwise specified, the reissue rate applies up to the face value of the prior policy.
If a reissue policy requires more insurance than the original policy, the amount in excess must be the original rate under the relevant bracket or brackets for such excess amount.
Any insurance must have a minimum premium of $175.00 for Standard Owner's Policies and $200.00 for Homeowner's Policies.
The reissue rate applies in the following situations: (a) If the seller or lessor is 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 at the reissue rate stated above, up to the face amount of the previous policy.
Any insurance given in excess of the previous policy will be at the original rate in the relevant bracket or brackets for such excess amount.
This pricing does not apply to an insured lessee who applies for an Owner's Policy.
See Section 5 for further information.
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.