Schedule An Appointment: Call (561) 408-0729 Fax: (561) 408-0731

01Dec

A Simple Guide to Understanding Escrow and Why You Need It

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What is Escrow? Escrow is when two parties arrange to have an impartial third party escrow provider hold money, paperwork, and other assets on each party’s behalf until areal estate...

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01Nov

What is Title Insurance and Why You Need to Have It!

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Title Insurance  Title insurance is a one-time payment, and it covers homeowners and their heirs for the entire time you own the home. Title insurance protects property buyers and mortgage...

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01Oct

How Your Title Company Works Alongside Your Real Estate Attorney to Protect Your Interests

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Real Estate Attorneys and Title Companies A title company searches and examines title, processes all aspects of file prior to closing, arranges for and conducts the closing and disburses funds...

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18Sep

Are You Planning a Move With Kids; Here Are 10 Tips To Help

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Moving With Kids Moving is very stressful. Moving with kids, especially little kids can make the move even more challenging. If you have to move with little kids, here are...

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28Aug

Everything You Need to Know Before Buying a Home in Jupiter, Florida

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The Sunshine State Tens of thousands of people move to Florida each month because it is a fantastic place to retire and to live amongst sandy, white beaches, and warm...

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20Jul

Short Sales 101 – Everything You Need to Know About Short Sales

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Short Sales Have you ever been told to steer clear of short sales or been told that they are a great deal? How do you know what to believe? Buying...

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FAQS

There are two types of title insurance and both are designed to protect against losses arising through defects in title to real estate. The title insurance company agrees to provide the policy holder a legal defense if a claim against clear title arises.

  1. Owner’s title insurance protects purchasers of real estate against title defects that may exist against the property.
  2. Lender’s, or mortgagee’s, title insurance insures the lender as to the priority of its mortgage lien, protecting against other mortgages, liens, or judgments recorded prior to their mortgage.

There are a number of defects that a title insurance policy may protect against, some a matter of public record and some hidden, such as:

  • False Affidavits
  • Forgeries
  • Improperly Indexed Documents
  • Judgments
  • Liens
  • Missing or unknown heirs
  • Unpaid taxes
  • Unsatisfied mortgages

A title commitment is a precursor to a title insurance policy in that it discloses the current ownership, easements, restrictions and liens relating to a particular property or its owner, and what documents or other measures must be taken to assure a clean title.

Owner’s title insurance is never mandatory, but it would be foolhardy to purchase real estate without the protection title insurance affords.  A real estate acquisition is often a family’s most significant asset.  A claim against their title could render that investment worthless or severely limit use of the property.

A title insurance policy protects against documents that do not appear in the public records, such as prior deeds, liens, judgments, or documents that were missed by the title examiner.  Title insurance may also protect against encroachments that do not appear on a survey of the property

A title insurance policy does not cover defects that occur after the property is purchased. Policies often exclude easements, mineral and air rights.  Whenever a buyer or seller is concerned, they can always feel free to ask us for an explanation of all exceptions and how it may impact them.

Lenders will always require title insurance to protect their interest in the property. It is up to the purchaser to protect their own interests by obtaining owner’s title insurance.

Title Insurance premiums are promulgated by the State of Florida. Title insurance policies are paid in-full with a one-time fee which is part of closing costs.

Generally, local customs in the county in which the property is located determine who pays for title insurance and other closing costs, although it is negotiable between the parties in a purchase transaction. The responsibility is usually addressed in the contract for sale and purchase.

A lender’s policy is usually issued for the amount of the mortgage. It pays the lender if a problem surfaces.

An owner’s policy covers the property’s full sales price and insures the owner against loss, including providing legal and investigative funds to resolve an issue.

Many buyers take advantage of the title insurance contacts their realtor or mortgage broker have cultivated. We pride ourselves in working closely with numerous real estate agents, mortgage brokers and other lenders to assure a smooth and pleasant buying or refinancing experience.

Contact us for more information regarding title insurance.

WIRE FRAUD PREVENTION WARNING: Florida National Title does not accept, nor do we require, changes to wire instructions by email or fax. ALWAYS call our office to verify any changes. PLEASE WATCH THIS VIDEO FROM THE AMERICAN LAND TITLE ASSOCIATION FOR MORE INFORMATION.

Questions about title insurance and settlements? We have a library of fun and informative videos waiting to answer many of the most common questions that home buyers and borrower have. Check out topics including the TILA/RESPA Integrated Disclosure, preparing to buy or sell your home, getting a mortgage and more. If you have questions or would like more information based on any of these videos, contact us today!

Located at
250 S. Central Blvd., Suite 101 Jupiter, Florida 33458

Call us today at (561) 408-0729

Schedule An Appointment: Call (561) 408-0729 Fax: (561) 408-0731