Bulletin: ME2013001

Date:
September 17, 2013
To:
All Maine Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Changes to Recording Fees in the State of Maine - Effective October 9, 2013

Dear Associates:

Effective October 9, 2013, recording fees in the State of Maine will be as follows:

            Documents:
                        First Page of Document            $19.00
                        Each Additional Page                $2.00
                        Surcharge Per Document           $3.00

            Plans:
                        Each Plan                                 $21.00
                        Surcharge Per Plan                    $3.00

As a reminder, please observe the following requirements for recording documents:

  • Name must be typed or printed below the signature line.
  • Corporate name must be typed at signature for indexing.
  • Must be an original document.
  • Must be acknowledged and notarized.
  • Deeds conveying property must include a transfer tax form, and pay tax, unless exempt.
  • Maximum of 20 names on an assignment.
  • Each document must contain the name of a grantor and a grantee.

Real Estate Transfer Tax:

A tax of $4.40 per thousand is imposed upon the sale, granting or transfer of real estate and any interest therein. The transfer tax is divided equally between the buyer and the seller, unless exempt pursuant to 36 M.R.S.A. 4641-C. An exemption from the transfer tax must be clearly stated on the deed being recorded as well as on the Declaration of Value Form that must accompany the deed.

If you have questions related to this fee change, please contact:

Gary H. Bernier, Esquire
Stewart Title Guaranty Company
165A South River Road
Bedford, New Hampshire 03110
1-866-899-7987
gbernier@stewart.com

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None