KANSAS INSURANCE DEPARTMENT
UNIFORM PREMIUM (RISK RATE)
DESCRIPTION OF RISK
ORIGINAL TITLE INSURANCE
FOR LEASEHOLD OWNER'S POLICY
COST PER $1,000
Up to $50,000
$3.50
Over $50,000 to $100,000
$3.00
Over $100,000 to$5,000,000
$2.00
Over $5,000,000 to $10,000,000
$1.75
Over $10,000,000 to $15,000,000
$1.50
Over $15,000,000
$1.25
Minimum Premium
$10.00
Up to $50,000
$3.50
Over $50,000 to $100,000
$3.00
Over $100,000 to$5,000,000
$2.00
Over $5,000,000 to $10,000,000
$1.75
Over $10,000,000 to $15,000,000
$1.50
Over $15,000,000
$1.25
Minimum Premium
$10.00
Summary of Closing & Escrow Procedures around the United States
This summary is merely a general reference guide. Local practices within your city or county may differ. Contact a local title company or real estate attorney for specific information. This is not intended as legal advice, but merely as a general reference guide.
KANSAS - Title companies, lenders, real estate agents, attorneys, and independent escrow firms all conduct closings. Anyone who conducts a title search must be a licensed abstracter, a designation one receives after passing strict tests and meeting various requirements. Because many land titles stem from Indian origins, deeds involving Indians as parties to a transaction go before the Indian Commission for approval. Conveyance is by warranty deed. Mortgages are the customary security instruments. Kansas uses ALTA policies and endorsements. Buyers and sellers divide closing costs. Buyers pay the lender’s policy costs and the state mortgage taxes; sellers pay for the owner’s policy. Property taxes come due November 1st, but they needn’t be paid in a lump sum until December 31st. They may also be paid in two installments, the first on December 20th and the second on June 20th.
