West Virginia Title Insurance Rate and Transfer Tax Calculator
The
West Virginia title insurance rate calculator may be used to
estimate title insurance prices for residential properties with one
to four units.
West Virginia levies a deed transfer tax (often referred to as an
excise tax) on real property. The tax is $1.10 per $1,000.
Each county has the authority to establish its own excise tax rate,
which the majority do. West Virginia does not have a mortgage tax.
West Virginia title insurance calculator will compute residential
and non-commercial title insurance premiums, as well as estimate
state and county transfer taxes. Please send me
an E-mail if you see an error or want to
make a comment.
Can I get a cheaper title insurance rate in West Virginia?
Most title insurance companies offer a reissue rate (40% discount) under certain conditions. Here's one title company's requirement for the discount/reissue rate:
The reissue rate, where applicable, is defined as 60% of the original insurance premium.
The reprint rate is only applicable up to the amount of insurance on the previously issued policy.
The excess amount of insurance, if any, must be calculated using the appropriate bracket charges.
Under the following conditions, reissue rates apply:
1. A purchaser or lessee of real estate from one whose title, as owner, has been insured by any title insurance company within seven (7) years prior to the application for a new owner's or leasehold policy shall be entitled to the reissue rate for owner's title insurance up to the face liability of such former policy.
Prior to the issue of the new owner's policy, a copy of the previous policy must be sent to the new insurer (new issuing agent).
2. An assured who provides a mortgage on the property covered under an owner's or leasehold owner's policy wishes to provide his mortgagee with a title insurance policy.
The premium for the lender's insurance is computed in the manner specified in the preceding specification.
3. No reissue credit will be granted if an examination of title reveals any of the following occurrences since the effective date of the previous policy: bankruptcy, foreclosure, multiple lawsuits or judgments, a gap in title, a conveyance of title in divided interests of less than 1/16, or more than 20 additional easements.
SOURCE: Rate manual
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