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What does title insurance protect against?
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Date : 4/23/2009
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Title insurance protects you from many things such as: false impersonation of the true owner of a property, forged deeds, undisclosed or missing heirs, mistakes in recording legal documents, fraud, misinterpretations of will, and many other things. If you have any questions regarding your title insurance, contact our title agency in Tampa Bay, Florida, now.
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What title agency should I use?
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Date : 4/23/2009
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Ours, of course!
Our company
has helped real estate brokers, Realtors, banks, and individuals throughout Tampa Bay and beyond with quick, courteous title services.
Contact us now and let us know how we can help you.
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Why do I need title insurance?
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Date : 4/23/2009
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Title insurance from a title agency protects one of the most important investments you have, your personal real estate.
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What is a title?
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Date : 4/23/2009
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A title to a property is the right to occupy and use the space that that property occupies.
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What is title insurance?
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Date : 4/23/2009
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Title insurance from our Tampa, Florida title agency is your policy of protection against financial loss and defects in your title.
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How does title insurance protect my investment if a claim should arise?
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Date : 4/23/2009
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Title insurance from our Tampa, Florida title agency will assure you of a legal defense if a claim should arise against your property (if in accordance with the terms of your policy). All court costs and related fees will be paid for and if the claim proves valid, you will be reimbursed for the actual loss up to the face amount of the policy.
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What is a closing?
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Date : 10/5/2009
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A closing, also known as a “settlement” or “escrow”, is an event in which the title to a property is transferred from the seller to the buyer. A closing is usually held in the title agent’s office or at the title insurance company and all financial issues are settled at that time.
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Can I put my minor children in the title?
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Date : 4/23/2009
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Minor children can be put in the title. However, a guardian must also be appointed since minors can’t enter into legal agreements. The court gives this guardian the responsibility to look after the minor’s best interests.
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How does a title pass from one owner to another?
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Date : 4/23/2009
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The title of a property can be passed from one owner to another through a will, inheritance, grants, court decrees, operation of law, or most commonly, a deed.
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What is a deed?
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Date : 4/23/2009
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A deed is a legal document that grants a person the right to own property. A deed must be a mutual agreement between the seller of the property (grantor) and the buyer of the property (grantee).
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How long does title insurance protect a property owner?
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Date : 4/23/2009
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Title insurance from our Tampa, Florida title agency provides protection indefinitely, for as long as the current ownership lasts.
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What are the costs involved in title insurance?
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Date : 4/23/2009
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Title insurance costs can be broken down into two types – fixed costs and variable costs.
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What are fixed costs?
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Date : 4/23/2009
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Fixed costs are the largest component of costs involved in paying for title insurance. This is a one-time payment that is based on the purchase/sale price of the property. Fixed costs include document recording fees, taxes, city assessments, etc. These costs are formulated and regulated by the government and remain constant across all title insurance companies.
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What are variable costs?
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Date : 4/23/2009
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Variable costs are the smaller component of costs involved in paying for title insurance. These costs represent service charges including processing and settlement fees, notary charges, search and examination fees, etc.
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What are the two types of title insurance?
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Date : 4/23/2009
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The two types of title insurance are: lender’s policy and owner’s policy. A lender’s policy protects the lender's interest in the property up to the face amount of the loan. The lender's policy is purchased by the buyer of the property and is usually required as a condition of the loan. The lender’s policy, however, does not protect the buyer from any title claims. An owner’s policy protects the buyer of the property from forged documents or human error that might arise after a sale has been completed.
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Why is transferring the title to real estate different from transferring the title to other items, such as a car?
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Date : 4/23/2009
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Transferring the title to real estate is different because land is permanent and can have many different owners over time. Various rights on the property may be owned by others, such as mineral, air, or utility rights, without you knowing about it. In order to transfer a clear title to a piece of land it is necessary to determine if any rights still belong to other people on that property.
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What kinds of problems can a title search reveal?
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Date : 4/23/2009
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A title search can reveal many title defects and restrictions. Common problems are unpaid taxes, mortgages, judgments against the seller, and restrictions limiting the use of the land.
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How much could I lose if a claim is filed against my property?
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Date : 4/23/2009
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It’s possible to lose the entirety of your home and property and still have to pay off the remaining balance of your mortgage. Most claims, however, aren’t to that extreme but will cost you time, money, and aggravation. To avoid claims on your property contact our Tampa, Florida title agency at:
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Is a deed proof of ownership?
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Date : 4/23/2009
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The main function of a deed is to pass title to land. However, a deed is not official ownership of property until it has been notarized and recorded by the court.
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What Does Title Insurance Cover?
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Date : 4/23/2009
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Title insurance should cover the cost of a legal defense on any claims against your title and in the event a loss is sustained, should protect you up to the full amount of your policy. Each title insurance company’s policy will vary. If you need title insurance contact our Tampa, Florida title agency at:
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