What is title insurance?

Why title insurance matters

Many people may have purchased one or more properties in the past without having much understanding of what restrictions are attached to its title. It's only when they submit a planning application and find it's denied due to previously applied restrictions, or end up out-of-pocket due to an old charge on the property resurfacing, that they realize that not all title information is publicly available.

What a policy covers

Available as residential insurance or commercial insurance, a title policy ensures that when issues are unearthed regarding your property, you've got the right coverage in place to make certain you and your family, employees or dependents don't end up financially disadvantaged.

As niche providers of home title insurance and other title services, we're ideally placed to advise you on which coverage will be best for your requirements.

What a title search turns up

• Unsatisfied mortgages — a loan that was paid but never formally released still sits on the record.
• Unpaid taxes — property tax liens survive a sale and follow the land, not the seller.
• Judgments against the seller — a creditor's judgment can attach to property the seller owns.
• Restrictions limiting the use of land — covenants that limit what you may build or run there.
• Other encumbrances and easements — someone else's right to cross, use or run services through the land.

Most of these are fixable — if they're found before closing rather than after. That is the entire point of the search. See where the search sits in the closing process.

What it costs in Florida

Florida title insurance premiums are promulgated by the state — the premium is set by rate against the policy amount, not by the individual agency. The governing rates are published by the Florida Office of Insurance Regulation. Give us a call and we'll be happy to provide you with the information and the assistance you need.