Title insurance – what is it? If you’re like most new home buyers, you’ve probably never heard of title insurance. After you find the perfect home, you’ll agree to go “under contract” meaning you will sign a contract committing you to the deal as long as financing and the home inspection go according to plan. Then you’ll be confronted with this new concept that seems to be left unexplained in the world of real estate. If you are applying for a mortgage as most buyers do, title insurance is mandatory, and your lender will not disburse any loan proceeds for your loan until a lender’s title insurance policy has been put in place.

What Is Title Insurance?

As implied, it is insurance on the title of your home. Typically, it ensures that the existing owner of the home possesses a good and marketable title that does not have any defects. From your lender’s perspective, title insurance ensures that the lender’s security interest in the property will be protected until the mortgage has been paid in full.

Title insurance is an actual policy that will be issued by a licensed title company in Florida after a full set of searches are completed in the public records, at both municipal and state levels. These searches can include searches for recorded liens against the property, unrecorded taxes, judgements against the seller, as well as sewer and municipal liens against the property.

Benefits of Title Insurance

An Owner’s Policy provides you with a range of benefits, including…

  • Protection for as long as you or your heirs own the property
  • Protection from the costs, attorneys’ fees and expenses of defending against any matter insured by the policy
  • Protection against certain covered risks not exceeding the amount of insurance, including a defect in title caused by:
    • Forgery or fraud
    • The lien of real estate taxes or assessments due and payable, but unpaid
    • No right of access to and from the land
    • Unpaid mortgages and other liens
    • Easements or rights of way, limiting use of the property
    • Unmarketable title
    • And more

Trust Estevez Law Group To Handle Your Real Estate Affairs

Estevez Law Group is a team of Florida based real estate lawyers who offer experience and knowledge in the Hollywood area. We are prepared to help you handle one of the biggest transactions of your life. Our team has helped clients prepare to close on their homes by dealing with title insurance, reviewing real estate contracts, and representing buyers and sellers. We are ready to help you get started on securing the home you’ve been waiting for. Let us guide you through the process and make this the best home buying experience for you.

 Contact Us (754-209-7766) for a Consultation Today!

About Estevez Law Group, P.A.

Helping clients with real estate, commercial real estate transactions, residential property purchases and sales, estate planning, and more! Skillful legal representation can simplify complex real estate transactions and solve problems that frustrate all parties involved. At the Estevez Law Group, P.A. our boutique real estate law firm and title agency assists clients with all types of residential and commercial property matters.
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