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

20Dec

10 Real Estate Myths Your Clients May Believe

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Real Estate Myths When erroneous information about real estate is believed, it can hurt the reputation of real estate professionals. Help your clients understand the truth about how the real...

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20Nov

Fixing and Flipping or Fixing and Holding a Property – Which is Right For You?

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Real Estate Investing They sure do make flipping houses seem so easy on TV! Learn the pros and cons of fixing up a home to flip for profit or to...

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27Oct

Commercial Real Estate and the Role of Your Title Company

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Title Insurance Title insurance is a key component of commercial real estate transactions. Title insurance will minimize the risk when purchasing or selling commercial real estate even though the stakes...

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28Sep

How to Market Your Home To the Millennial Generation

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The Millennials: Generation Y Millennials are in their mid-twenties to mid-thirties and are not buying homes in the same manner as previous generations did. Many Millennials rent and do not...

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18Sep

Foreclosures and How Your Title Company Can Help

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Foreclosures Typically selling for 35% less, homebuyers think they can find a bargain by searching for a house in foreclosure. However, a home with multiple, costly repairs, homeowners association bills,...

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25Jul

With the Many Different Types of Mortgages for Homebuyers to Choose From – How do I Decide Which is Best?

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Mortgages A mortgage is a legal agreement between a lender and a homeowner. When a homebuyer does not have enough cash to purchase a home outright, they borrow money from...

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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