Click Here To Get 20 GB Free Cloud Storage

South Florida’s Top Rated Title Insurance Company

0 views
0%

Close anywhere and anytime with our mobile courtesy closers at no additional cost. We’ll coordinate with you to schedule your closing at your convenience. Bundle.Some companies will offer a discount if you bundle your lender’s and owner’s policies. Through our Online Training Portal, the registered user will have access to the Florida Title Insurance Exam Prep product for 90 days from the date of activation. If additional study time is desired, simply purchase this product again. The Closing Agent’s advances in technology and innovation allow us to offer services to our clients that are unmatched by our competition.

She was thorough and complete, right away she was able to spot any potential risks in the contracts and that just made my day to have this peace of mind assurance from her. So i would recommend her service to others in similar needs like myself as well. Digital homeownership platform Better has been licensed as a title insurance provider for refinance transactions through its Better Settlement Services by the state of Virginia.

Be an informed consumer and choose the title insurance company that best fits your needs — even if it’s not Title Partners of South Florida. As a condition of doing business in Florida, title insurance companies are liable for an assessment to pay all unpaid title insurance claims and the expenses for any title company ordered into rehabilitation. In addition, a title company who paid assessments on behalf of a title company in rehabilitation must charge a fee on each new title policy written. This fee amount is set by the Office of Insurance Regulation and cannot exceed $25 per policy. Attorneys, who are in good standing with the Florida Bar Association may handle real estate closings involving title insurance and escrow accounts. If the escrow funds or title insurance for a closing were handled through a title agency owned by the attorney, the transaction would fall under the jurisdiction of the Department of Financial Services.

North American Title hires Cassidy to lead compliance – HousingWire

North American Title hires Cassidy to lead compliance.

Posted: Thu, 22 Jul 2021 07:00:00 GMT [source]

Appointments may be made up to one calendar day prior to the day you wish to test, subject to availability. You may schedule your exam online or over the phone by contacting customer service. We get involved when both the Buyer and Seller have a signed Real Estate Contract.

A. In some states like New York, Pennsylvania, and New Jersey, the cost of title insurance is regulated by the state. However, in many states, the cost is either not set or allowed to be negotiated. A. Title insurance is a one-time charge to protect you and the lender against a variety of problems that occur with real estate. Like any other type of insurance, the chance of a problem is minimal, but, if there is a problem, the consequences could be massive. How would you feel if after paying your mortgage for 30-years, you’re told you don’t own the home. Title insurers or attorneys duly admitted to practice law in this state and in good standing with The Florida Bar are exempt from the provisions of this chapter relating to title insurance licensing and appointment requirements.

Get an estimate of exactly what fees each party pays for to settle the transaction. Once all the above steps have been satisfied, the department will send your approval by email. You may then go to your MyProfile account and click the “Wallet” and/or “Letter” hyperlink, under the “Print Licenses” section, to generate a copy of your license for printing. Disregard this step if you passed the Title Agent exam within one year prior to applying for the license. Provide or pay for gift cards or gift certificates for referral of business. Provide or pay for food, drinks or room rentals at events designed to promote their business.

The title insurance agent did not make the buyer aware of this information. The court held that these facts stated a cause of action for breach of a duty to disclose all material facts relevant to the agency created by being the buyer’s closing agent. Title insurance is different from all other forms of insurance in that it is not casualty based.

What Does It Really Take To Build Wealth In Real Estate?

Insurance Affidavit – If you’re registering the vehicle at the time of the title transfer , you will need to present proof of insurance and complete the insurance affidavit form. Our combined experience offers over 60 years in the real estate and title insurance industry in the State of Florida. Whether you’re a first-time homebuyer or trying to refinance your mortgage, title insurance may be among the more expensive items you’ll have to purchase to get your new mortgage. Since the title is simply a document proving who has legal ownership of the vehicle, drivers are not required to have or show proof of car insurance in most states, to transfer a car’s title. Every auto insurance company works differently, but you typically sign over your title by talking to an agent in person, sending it electronically, or sending it by mail.

As Moore and her husband learned the hard way, there are two types of title insurance policies. Title insurance, in general, offers protection against any problems with the title, or legal ownership status, of the home. Any lien against a home or competing claim of ownership could jeopardize your financial stake in it, as well as your mortgage lender’s.

This may include a copy of the Closing Disclosure Form, title commitment, sales contract, escrow agreement, title insurance policy, all closing documents, etc. It is also good to keep a record of the title insurance agent and agency used for the sales transaction. An owner’s title insurance policy is typically issued in the amount of the real estate purchase price and remains in effect for as long as the owner, or his or her heirs, retains an interest in the property. It identifies potential risks before a transaction is completed.

Lawyers 1st Title provides you with exceptional customer service and an efficient claims process. All of this can happen right under a buyer’s nose, without his knowledge, and present unwelcome surprises down the road. No matter how nice and professional your contractors may seem, these things happen. In the case of a new build, it may seem that mechanic’s liens are a remote possibility, but that’s not all a title policy covers, Cain said. Issue aDate Down Endorsement 1to modify the commitment, raising Schedule B exceptions for any new title defects found in the search.

As you can probably gather from the list above, the title insurance company also plays a significant role in a Florida real estate transaction. Choosing the right title company can make all the difference in your transaction closing on time and without any last minute issues. Whether you’re in Broward County, Palm Beach County, Miami-Dade County, or Monroe County, your South Florida title insurance company will make all the difference. Trademark Title Services Inc. is a full service title insurance company offering a comprehensive line of quality title and closing services in all of the Florida Counties with offices in Fleming Island and Fernandina Beach. As a leader in the real estate community, Trademark Title Services Inc. is uniquely positioned to offer our customers the highest quality and most complete title services available in the market today with low flat closing fees. Because both buyer and seller would usually prefer to shift risk to a title insurance company, title insurance supplements and even replaces the protection provided by warranty deeds in many residential real estate closings.

The state outsources fingerprinting services to its vendor, Morpho Trust USA. You must be fingerprinted through this company or your application will be denied. Visit Morpho Trust’s website to register and pay the fee for fingerprinting. After payment, you’ll be given a list of locations where you can submit your fingerprints electronically. As of 2021, the title transfer fees in Florida are $75.25 for an electronic title or an additional fee of $2.50 for a paper title. License plate and vehicle registration fees depend on the vehicle’s weight. The title insurance premiums are regulated by the State of Florida.

Enter your ZIP code to see how auto insurance quotes vary in your local area. If you purchased your vehicle outright at the dealership, you should have been given the title. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider.

Remember to register your title company’s name with the Florida Secretary of State, and apply for trademarks if you want to protect your name. It’s also wise to draft an official title company business plan for your company to ensure you stay on track for growth and profits. If you qualify, you can apply for your title insurance license on the Florida Division of Insurance Agent and Agency Services website by creating an account and following instructions as printed. You will have four years to meet all the requirements and receive your license. When calculating the cost of insurance, you have to round up the purchase price and/or loan amount to the nearest thousand.

For instance, you may buy a home with a new pool only to learn that the last owner never actually paid the contractor that installed the pool. You are then responsible for paying that contractor even though you believed you bought the property with all of its debts paid. It’s important to understand that when you buy a home or property, you are also buying all the interests in it.

How To Sign A Car Title Over To An Insurance Company?

You and your lender will want to make sure that title to the property is indeed yours and that, unknown to you, no one else has liens, claims, or encumbrances on your property. Title insurance guarantees you or your lender against losses from any defects in title that may exist in the public records at the time you purchase that property, and certain other risks described in the title insurance policy. Buyers are required by their lender to purchase a new policy when refinancing a condo or property. Typically, your Title Company will offer a discount from the original policy, 20-40% off policy depending on jurisdiction, for a condominium, which is based on the value of the condo as well as the rate per thousand of your insurance company. Talk to your lender and or title company about how much a new policy will cost for your title insurance. Without title insurance, the parties to a real estate transaction could only look to each other to resolve any legal liabilities.

Florida Southern, Sudberry, Daniel, and Askew clearly stand for the proposition that real estate closing agents have a duty to supervise closings in a reasonably prudent manner. To the extent plaintiffs sue for fraud, or otherwise in intentional tort, these cases should be reliable authority. To the extent plaintiffs sue in negligence, the viability of Florida Southern, Sudberry, Daniel, and Askew is in doubt because of the economic loss rule.

It may be the old proverb, “What you don’t know can’t hurt you” as the skier went sailing over a 2,000 foot cliff. However, the GAP is a very important part of every transaction if you are a buyer and want to make sure you get “good title” to your purchase. We actually have a team of “Concierge Closers” located in every county in Florida that will come to you to close ANYTIME, ANYWHERE for no additional fee. Our Concierge Closers can answer and explain every single document that you have to sign. Most lenders require a Survey to make sure the property does’nt have any problems.

Those two counties are traditional seller-pay counties, but under the NABOR® contract, the buyer picks the title insurance agent to issue the policy. Trusted Title Inc. is Florida title insurance company specializing in Florida title searches and related reports. We search ALL FLORIDA COUNTIES with extremely fast turn-around times and our reports are typed and submitted in an easy to read format. Before offering to issue a title insurance policy, a title company will do a title search to learn whether there are any problems or limitations with the title. This search is done in an effort to minimize the risks of offering insurance.

In fact, a title insurance policy itself terminates when the legal title on a property changes. ALTA’s Best Practices consist of a series of guidelines designed to protect consumers identity and escrow funds, promote quality service, and meet legal and market requirements. As an experienced real estate professional, you want to ensure that the title company you refer your clients to is as committed to exceptional customer service as you are. Our superior communication will give you confidence that once you drop off a contract, all the elements of the sale will be taken care of, we will follow up with you every step of the way and let you know once closing is ready. While title and closing costs are typically paid by certain parties, all costs are negotiable and can be specific to the contract you sign.

Both policies together usually cost about 0.5% to 1.0% of the home’s purchase price, or $1,500 to $3,000 on a $300,000 home, according to the American Land Title Association , a large national trade group of title agents. 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.

If you purchased your vehicle from an individual, they should sign the title over to you at the time of the purchase. Enter your ZIP code below to view companies that have cheap auto insurance rates. It’s not likely for a DMV to issue a car title transfer when the other driver doesn’t have a driver’s license or is getting one. The DMV will need a record of ownership if you’re going to register the vehicle with the state.

Follow the lobbying efforts of all the major national real estate services organizations. Doma expanded its relationship with lender Fairway Independent Mortgage Corp., aiming to enhance the mortgage experience for Fairway clients. The new director has 16 years of experience in the title and mortgage industry. From a seller standpoint, we could not be happier with our experience with State Title Partners.

Kelly Mena-Tamayo, is a University of Florida law graduate who reviews title commitments to ensure closing paperwork is prepared accurately to ensure a smooth closing. Survey respondents also noted that developer and financial institution contracts often vary from the norm in the county on the terms relating to the payment of the owner’s title insurance premium. These contracts should be carefully reviewed if the Fund Member is unfamiliar with the contract terms regarding the premium payment. There are also local residential purchase and sale contracts which are widely used in particular areas that may contain terms that dictate the payment of the owner’s policy premium.

The Secret To Finding Real Estate Deals In A Hot Market

When John realizes the error, he sees a chance for a windfall and decides to keep quiet about his mortgage with Big Lender, Inc. The closing occurs, and John receives net proceeds that exceeded the amount he would have received had the mortgage with Big Lender, Inc., been paid. John uses the money to pay off some of his debt, but he unfortunately dies in an accident a few weeks later. A lawyer can provide advice on the ramifications of closing a deal if, for example, a wild deed or an unsatisfied mortgage is found in the chain of title. Just because a title company issues a title insurance policy doesn’t mean there aren’t problems in the chain of title that a future buyer of the property can raise to terminate a deal. There is a sort of legal loophole in Florida law concerning title insurance rates.

You may want to contact more than one title insurer or underwritten title company to compare costs and services. You can visit our website at for a list of California Department of Insurance licensed title insurers and underwritten title companies. Title insurance allows both buyer and seller to shift the risk of loss to the insurance company. The insurance company is a professional organization designed to identify any title issues before they arise.

Title problems are a rare but serious problem that can arise during homeownership. That’s because when title problems do come up, they tend to be pretty complicated. Imagine you bought your home nearly a decade ago, only to receive an official letter telling you your house was built on the wrong lot. You purchase a home with a spacious fenced-in backyard, and a back deck patio and garage shed. Two years later a man shows up on your doorstep claiming to be the owner of your backyard.

This process is called “title clearing” and when done correctly, it will eventually create a “clear and marketable title” that is free of any defects and is ready to be transferred from the seller to the buyer. Applicants are required to take an examination and will not be qualified for a license until the department has received a passing result from the testing vendor. Sponsor and title insurance companies ratings host any open houses for real estate brokers etc. for business referrals. Cloud exists on the title when there is reason to believe there could be a future claim against the title to the property. Clear Title is a title that is free from defects which may encumber the owner’s right to the peaceful enjoyment of the property or which may cause the owner to lose any portion of it.

This type of policy is optional and only needs to be purchased once. Title insurance is a one-time, up-front fee-not an ongoing expense. You may also purchase, at an additional cost, optional endorsements to cover risks that are not included in the standard or extended coverage title insurance policies. Endorsements are available to provide coverage against environmental protection liens, enforcement of covenants, conditions and restrictions, damage due to water and mineral development, accuracy of boundaries, and other potential risks.

The next time you think about transferring title, be certain how the type of conveyance will affect your title insurance policy. Just as with liens, it’s possible a title search might not uncover a mortgage until after closing because it was posted incorrectly with the county recorder, Israel says. The adage that good fences make good neighbors might not hold true if it’s discovered that someone put up a fence, deck, shed, pool, driveway, etc., on your new property. And should that happen before you close, Israel says title insurance will pay the cost of any legal battle or efforts to settle the matter out of court and have the item removed from property that is legally yours.

The typical cost of title insurance is about $700, but this can vary greatly from state to state. This is in part due to differences among the states in what is covered by title insurance title insurance cost – in many states, the title insurance company also handles the closing, or settlement process, so that cost is included. In others, an attorney or escrow company many handle the closing.

Simply put, the lender is taking a risk and they want to be covered should an issue arise down the line that puts the house or property you’re buying at risk, which then puts their money at risk. A loan policy, which will be worked into the closing cost of your loan, will ensure the lender is protected down the line should another claim against the property arise even years after you have closed on the property. To answer the question, is title insurance required in Florida, yes, at least in the case of a loan policy. When you buy a home or property in Florida, it’s important to ensure that you are actually purchasing the property without any liens or encumbrances on it that you don’t know about.

By clicking “See Rates”, you’ll be directed to our ultimate parent company, LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders. The company underwrites for 537 agents in 25 states, with over 80 employees and revenues exceeding $126 million. We have also received the Commercial Real Estate Recommendation of “Strongly Recommended” from Demotech. This is findlaw’s hosted version of florida statutes title xxxvii.

Ten years later, the husband divorced his wife and was removed from the mortgage agreement. All the heirs released their ownership interest in the home, except an estranged cousin who had a beef against the wife. Chances are, you will never file a claim with the title insurance company, but, you just might need it. Our professionals perform certification reviews and curative work completely in-house.

We handle all aspects of any real estate transaction for our clients from opening to closing. We make sure you are covered in case of any real estate title disputes and problems during the transaction. Per state regulations, companies are required to provide training to employees for the topics below. WebCE courses can be used to satisfy the training by itself, or in some cases, can include CE credits for your insurance license renewal. Payment for the applicable title and registration fees—contact your local tax collector’s office for fees specific to your FL county of residence. It has a value of $1,500 or more and your insurance company pays you to replace it with a vehicle of similar type and quality.

Part of agreeing to give you the loan requires that the Lender protect themselves with a Lender’s Title Insurance Policy. This part of the title commitment covers the basics of the transaction, such as the name of the person who currently holds title, the property legal description, the name of the proposed insured , the sales price, and name of lender. After the mortgage goes into default for no-payment, Big Lender, Inc., sends its mortgage to its attorney for foreclosure. The attorney files a foreclosure action and names the current owner as a party defendant. When the owner is served a copy of the complaint for foreclosure, the owner files a claim with his title company.

These training hours can be used toward the total CE hours required to renew the license. Proof of ownership for the vehicle if it was deemed a “total loss.” Once your vehicle has a salvage title, you can apply for a rebuilt title.

In addition, all financial issues are settled at closing, referred to as closing costs. Proceeds are sent to the seller and the necessary documents are filed in the public records, which successfully transfers the title. In Florida, the person responsible for paying title varies per county and can be negotiated in the contract. In most counties, the seller generally pays for the title insurance and chooses the title company. 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 discover any claims, defects and other rights or burdens on the property.

Trademark Title Services, Inc. works hard to ensure that there are no issues when it comes to a title transfer. Trademark Title Services, Inc. acts as a reputable third party essential for any real estate transaction. Annually thereafter, an insurer shall provide such employees a 1-hour course that addresses detection, referral, investigation, and reporting of possible fraudulent insurance acts for the types of insurance lines written by the insurer. Please consult your firm on how to report WebCE courses for this training.

John finally finds a cash purchaser for the property and the purchaser’s attorney orders a title search report from another title underwriter. The purchaser’s attorney provides the title underwriter with a copy of John’s owner’s policy (his owner’s policy reflects the original mortgage that was satisfied of record when John refinanced). However, the new title commitment does not reflect the refinance mortgage with Big Lender, Inc.

Welcome to Lawyers 1st Title, the best title service company in the South Florida area. Buying and selling property in South Florida’s fast-paced real estate market can present unique challenges for both buyers and sellers. Because we are attorney owned and operated, we have the on-site resources and staff needed to handle every aspect of your closing – including difficult or unforeseen last minute circumstances. The reality is that title insurance has protected a large amount of insureds, but it really hasn’t proportionality paid out that many claims. An estimated 4-5% of title insureds have been paid on their policy.

Or that there are different types of coverage available, including various levels of protection for owners. The application process to title your salvaged vehicle depends on who’s applying for the salvage certificate. If your car was declared a salvage as part of an insurance settlement, the auto insurance company will be responsible for applying for the salvage title. I know you may have heard and will continue to hear individuals in the real estate field and professionals talk about Quit Claiming property out of your personal name for asset protection.

I am not talking about transferring the property back – like A transfers to B,the property is vested in B, and then B transfers back to A (i.e. two separate transfers). What I am talking about is cancelling the vested transfer as if the transfer from A to B never happened? As if title never left A, and the property never vested in B in the first place? Is there a way to hit Ctrl + Z, backspace, and just undo a deed?

We would recommend putting it in the name of an entity to avoid any tax issues down the road, but that’s our perspective and everyone has a different tax situation. Tenancy In Common – Several parties can own the property in whatever different percentages or splits owners title insurance optional they want. Any party can sell their interest to anyone without giving notice to the others. Upon the death of one of the people on the title, their interest goes to their own estate to be distributed according to their will or to their heirs through probate.

Although it’s not required in every state, proof of insurance while pursuing a title is a good rule of thumb. If you are paying on a loan for your vehicle, your loan company has the title to your car, as they are the legal owners. Full Warranty – Deeds that provide a full or unlimited warranty are called warranty deeds. They may also be called general warranty deeds to distinguish them from deeds that provide a limited warranty. This type of deed provides warranties for all title problems, including those that arose before the previous owner owned the property.

What does a title company do? – Bankrate.com

What does a title company do?.

Posted: Thu, 17 Sep 2020 07:00:00 GMT [source]

It is our goal to keep you from being overwhelmed by the countless details of selling your property. Your personal closing coordinator will put all the pieces together for you. We have a variety of services and resources for our agents to continue to help them grow and be successful. Second closing with State Title this year — we highly recommend their services. Enter your email address below and stay up-to-date on the ever-changing real estate market. “I had a great experience with Florida Real Estate Title. We used them for a recent home purchase and found them to be etiquette, very organized, and professional.”

The filed schedule is used as a basis for comparison between companies. If a title insurer offers a rebate from the scheduled fees and charges, it results in a discriminatory practice, which is unfair to all consumers. Every title insurance policy covers either a homeowner or the lender that financed the mortgage for the property. Lenders require you to pay for lender’s title insurance as part of your mortgage closing costs. Homeowner’s title insurance is mostly optional, and is paid for by the seller or the buyer of the property. Title insurance coverage begins when you buy the policy and extends indefinitely into the past, covering both known and unknown inconsistencies in the documented history of ownership.

Losing a small portion of land can drastically impact accessibility and visibility, two factors of the utmost importance in valuing a parcel of commercial property. Without the ability to make a claim for negligence, a property owner may be left with only a small recovery for the value of a small piece of land when the impact of that piece of land could far exceed its physical value. As an example, let’s assume an investor purchased property and received a Warranty Deed and owner’s title insurance policy. Sthen transfers the property to their spouse, a living trust or a related corporation for estate planning, tax or business purposes. If they transferred the property via Quit Claim Deed, the grantee has no recourse against you, since the property had been Quit Claimed.

Using ATG’sDeed and Money Escrow Instructionsis helpful for these transactions. Complex title issues can emerge for the buyer of any property, whether it’s brand new construction or a historic home. This is why most lenders won’t finance a mortgage until a buyer purchases a new title insurance lender’s policy. This is the type of title insurance required almost across the board for home purchases large and small. It’s called a lender’s policy because it protects the lender from financial losses due to title claim issues, like those mentioned above.

Without a title insurance owner’s policy, all these problems fall to the current homeowner to solve themselves. The Deed is the actual document that transfers title from one person to another. The deed must be recorded by the Clerk of Court’s office and can take time. After the closing paperwork has been processed, the original deed is sent to the Clerk’s office and recorded in the official county records. Once recorded, it is mailed back to the title agency where the agent will write the actual title insurance policy if the company requires the Deed to be recorded prior to issuance.

If you need to pick up or drop off anything to our offices, we ask that you call us ahead of time to comply with CDC. We need to ensure that you or any parties, have not returned from any countries or states that have a Level 3 or 2 Travel Notice issued by the CDC, or have been exposed or potentially exposed to the COVID-19 virus in the last 14 day. If so, please let us know as soon as possible and we will work together in order to coordinate safe accommodations for all involved. As you have read in everyone of these reviews they go above and beyond!

When a practitioner encounters an error in a deed, the first determination should be whether the error is harmless or whether the error is fatal to the conveyance or results in failure to provide constructive notice of the conveyance. A harmless error will not prevent the passage of title or the legal recordation of the instrument and may be ignored altogether, although the error should be corrected on an instrument in a current transaction. Although not an exhaustive list, we will discuss two examples of common harmless errors. We know you can do it, and we’re so confident in our title insurance exam prep system that if you pass our prep exam and don’t pass the actual exam, we’ll refund 100% of your money back. CompuCram’s title insurance exam prep product provides all the tools and resources necessary to pass the title insurance exam the first time.

As with many other types of insurance, an owner’s title insurance policy can feel like a waste of money if you never need to use it. But it’s a small price to pay to protect your interests in case anyone challenges your title after you close on your home. You can get an estimate of what title insurance costs in your area using Old Republic’s rate calculator and Fidelity National’s rate calculator. You also can get a quick quote from First American Title’s fee calculator or Stewart’s rate calculator.

  • You will then need to complete the vehicle title transfer once you have the replacement vehicle title.
  • Sell your property with marketable title OR refinance through a traditional loan.
  • The abstractor will also look for evidence of any recorded encumbrances on real estate.
  • The bureau stated that any one of these three methods for disclosing the remaining amount of the seller’s credit for the owner’s title insurance premium is permissible under the final rule.

The Florida Title Insurance rates are listed as $ 5.75 per thousand for the first $ 100,000 and the $ 5.00 per thousand above $ 100,000. The minimum charge for Florida Title Insurance for coverage is $ 100, as shown on the chart shown below named Title Insurance cost in Florida. What are the differences between a reverse mortgage and a home equity loan? With a second mortgage, or a home equity line of credit, borrowers must make monthly payments on the principal and interest.

Title Insurance Market is Gaining Momentum by key players K.E.L. Title Insurance Group, Attorneys Title insura – openPR

Title Insurance Market is Gaining Momentum by key players K.E.L. Title Insurance Group, Attorneys Title insura.

Posted: Tue, 13 Jul 2021 07:00:00 GMT [source]

These generally aren’t required for a sale to go through because the seller or the lender wouldn’t be affected if you end up responsible for title issues on your property. Still, lots of homebuyers choose to get an owner’s policy for added protection and peace of mind. To illustrate, John Doe wants to refinance a parcel of real property. In the loan application, John uses his full name, William reissue rate on title insurance J. Doe. Accordingly, the loan closing package, including the mortgage in favor of Big Lender, Inc., which the lender prepared, reflects William J. Doe as the mortgagor. The closing attorney notices the slight discrepancy , but decides that, since the mortgagor was surely the same person as the owner of record (both his driver’s license and passport reflected William J. Doe), all is well.

Our years of experience with Lenders in transactions and refinancing has allowed us to become the experts. Every step of the way, we will cooperate with the mortgage company of the buyer to create an accurate and hassle-free closing process. Title insurance protects both real estate owners and lenders against loss or damage occurring from liens, encumbrances, or defects in the title or actual ownership of a property.

But in some states, including Texas and Florida, all title companies are required to provide the same level of coverage at the same price, so shopping around isn’t required. Title insurance provides a guarantee of ownership in the property and protects against unknown claims that may arise. Title insurance is based on events in the past and insures the validity and priority of the interests of the owner.

While examining the chain of title, the practitioner may discover that the deed into the current owner and several preceding conveyances in the chain contain erroneous legal descriptions. In that situation, the practitioner does not need to obtain corrective deeds from each party in the chain of title. Instead, a deed from the grantor who first conveyed by deed with an erroneous legal description may be executed in favor of the current owner. However, a judgment search on all owners in the chain of title should also be made.

Date: August 6, 2021