Title Insurance protects you against losses due to defects in the title to the
property and expenses in legal defense.
Your ownership is authenticated and will be promptly defended against any claims
in court, if necessary at no cost to you, whether a claim is valid or not.
If a valid claim is made against your title as covered by your policy, the title insurer protects you by bearing the cost of settling the claim should it prove valid, in order to protect your title and keep you in possession of your property or mortgage.
A title search is a detailed examination of the historical records concerning
a property. These records include deeds, court records, property and name indexes,
and many other documents. The purpose of the search is to verify the seller's
right to transfer ownership, and to discover any claims, defects and other rights
or encumbrances on the property.
The Florida Department of Insurance regulates the rates that title insurers
can charge consumers.
The Florida Promulgated Rates for an owner's policy are as follows:
- $5.75 per $1,000 of value for the first $100,000.00.
- $5.00 per 1,000 of value thereafter for purchase prices up to $1,000,000.00
Please contact us for rates for owners or mortgage policies above $1,000,000.00.
If the property that is being sold is improved property and the seller has owned
this property three years or less and has a copy of their owner’s policy,
then the seller will be given re-issue credit up to the amount of his/her policy.
If the property that is being sold is unimproved property, or if the property
is being refinanced there is no time limit; this credit will be given based
on the value of the current owner’s policy.
The Re-Issue Rates for an owners or mortgage policies are as follows:
- $3.30 per $1,000.00 of value for the first $100,000.00
- $3.00 per $1,000.00 of value therefore up to $1,000,000.00
Please contact us for rates for owners or mortgage policy above $1,000,000.00
Yes, in Florida a married person can acquire (purchase) and convey (sell) property
individually. However, Florida Law states that in the case of homestead property
(primary residence), the spouse must join in the conveyance or mortgage, even
if that spouse is not on the title to the property.
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