What Is Title Insurance? Title insurance protects against loss or damage resulting from defects that affect the title to your home or place of business.
Why Is Title Insurance Important? Title insurance protects the investment you've made in your home or place of business. When you buy property, the previous owner conveys title to you to evidence your full legal ownership. Occasionally, a hidden defect in the title or a mistake in a prior deed, or mortgage may give someone else a legal claim against your property. If a claim is made against your property, title insurance can save you time and money.
|Cynthia Brundage, 24934 Drive No 1, Astor Fl 32102|
We provide contact info, and detailed company information for title insurance companies in Florida. We also provide information on title insurance, how to find a good title company along with what questions you should ask ...Title Company Details - Click Here!
Your title insurance protection is a permanent assurance that your ownership and use will be defended promptly against claims, at no cost to you, whether the claim is valid or not.
What is a Title Defect? A title defect is one of any number of things that could jeopardize your interest. It could be an unsatisfied mortgage, a lien, judgment, or other unrecorded claim against the property. It could arise through easements, use restrictions or other existing covenants, or it could be a hidden risk.
What Hidden Risks Does Title Insurance Protect Against?
What Does Title Insurance Protect? There are two basic types of title insurance policies - one for the mortgage lender and one for the real estate owner. If a mortgage is to be placed on your new home or business, the lender will probably require you to purchase title insurance to protect its position as a holder of a mortgage loan, but this lender's title insurance policy doesn't protect the real estate owner. You need to purchase an owner's title insurance policy to protect your investment.
When is the Title Insurance Policy Issued? The owner's title insurance policy usually is issued after the deed to the buyer is delivered and recorded. The lender's title insurance policy is usually issued after the mortgage or deed of trust has been properly executed and recorded.