Minimum Charges for Escrow Services - UTAH

Rule R592-13

"Minimum Charges for Escrow Services"

Recently, The Title and Escrow Commission in conjunction with The Utah State Insurance Department invoked a new rule (Rule R592-13) that will effect your future real estate transactions. This new rule requires all title insurance agencies operating in the state of Utah to charge a uniform "minimum charge for escrow services". This minimum escrow fee is determined by the purchase price/ loan amount of the transaction and includes the combination of both the closing/ settlement fee and the document preparation fee. The new minimum charge requirements will be applied as follows:

Purchase Price/Loan Amount - Minumum Escrow Fee
$0 to $180,000.00 - Minimum Escrow Fee $150 per side
$180,000.01 to $250,000.00 - Minimum Escrow Fee $250 per side
$250,000.01 and above - Minimum Escrow Fee $350 per side

It is important to note that this is a minimum charge requirement. Some transactions may require additional fees to cover services rendered or to fulfill requirements made by the parties involved in a transaction.

Although, this rule was put into effective January 22, 2009 it will not be implemented until April 1, 2009.