New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IX - Unfair Trade Practices › Part 228 - TITLE INSURANCE RATES, EXPENSES AND CHARGES › Section 228.5 - Ancillary or other discretionary fee

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A title insurance corporation or title
				insurance agent shall not charge an applicant in connection with a residential
				real property closing an ancillary or other discretionary fee more than those
				amounts set forth herein:
(1) For a Patriot
				search, 200% of the out-of-pocket cost paid for the search. A title insurance
				corporation or title insurance agent shall not charge a flat fee for a
				specified number of names searched. If no out-of-pocket cost is paid for the
				search, then the charge to the applicant shall be no more than 200% of the fair
				market value of the search as charged by a non-affiliated third party. If an
				affiliated third party conducts the search, then the search shall not be billed
				at more than 200% of the lesser of the amount charged by the affiliated third
				party and the fair market value of the search as charged by a non-affiliated
				third party;
(2) For a bankruptcy
				search, 200% of the out-of-pocket cost paid for the search. A title insurance
				corporation or title insurance agent shall not charge a flat fee for a
				specified number of names searched. If no out-of-pocket cost is paid for the
				search, then the charge shall be no more than 200% of the fair market value of
				the search as charged by a non-affiliated third party. If an affiliated third
				party conducts the search, then the search shall not be billed at more than
				200% of the lesser of the amount charged by the affiliated third party and the
				fair market value of the search as charged by a non-affiliated third
				party;
(3) Except as provided in
				paragraph (4) of this subdivision, for a municipal or departmental search, or
				any other search that is not included in the premium of the title insurance
				policy issued, 200% of the out-of-pocket cost. If no out-of-pocket cost is paid
				for the search, then the charge shall be no more than 200% of the fair market
				value of the search as charged by a non-affiliated third party in that county.
				If an affiliated third party conducts the search, then the search shall not be
				billed at more than 200% of the lesser of the amount charged by the affiliated
				third party and the fair market value of the search as charged by a
				non-affiliated third party in that county;
(4) For a municipal or departmental search
				that is conducted and billed by a municipality, 100% of the fair market value
				of the search as charged by a non-affiliated third party in that county plus
				the charge by the municipality;
(5)
				For a recording fee or charge, $25 per document plus the out-of-pocket cost
				charged by the county clerk, county register, or other governmental
				office;
(6) For a survey
				inspection, $75 plus the out-of-pocket costs charged by the survey inspector.
				The cost of a survey shall be billed as a pass through;
(7) For overnight mail charges, the
				out-of-pocket cost; and
(8) For
				escrow services, $50 per escrow.