Frequently asked questions.
You may have a lot of questions related to Real Estate Title Transfer, placing an order, escrow and the overallprocess. We have setup a useful question guide on our most commonly asked questions. Please feel free to review the questions and answers below.
Should you not find a specific answer to your question or have any additional questions, please don’t hesitate to contact us directly via our secure email form.
A: Title insurance has only one premium that is paid at the time of settlement, unlike other insurance that is recurring and has to be paid periodically. This single premium payment protects you as long as you (and your heirs) retain an interest in the property..
A: The costs of getting title insurance varies across the country but in general, the cost of title insurance includes the search, examination and related services and amounts to one percent of the cost of the property..
A: Land is considered a permanent asset that can have various owners over the years. Hence various rights to the land have also been acquired such as mineral rights, utility rights, air rights or other by the time you may come into owning the land. This can happen even if the land does not have any buildings on it. Therefore, in order to transfer a ‘clear title’ to a piece of land, it is important to determine if there are any rights that are outstanding..
A: A title defect is anything that can invalidate a title or render it defective. Examples include:
• Invalid documents due to forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation.
• Failure of any person or entity to have authorized a transfer or conveyance.
• A document affecting title that is not properly executed, signed, witnessed, notarized, or delivered.
• Undisclosed or unrecorded easements not otherwise apparent on your land.
• No right of access to and from the land.
• A document executed under a falsified, expired or otherwise invalid power of attorney.
• A document not properly filed, recorded, or indexed in the public records.
• Ownership claims by undisclosed or missing heirs.
• Defect arising from an improper prior foreclosure.
• Undisclosed restrictive covenants affecting your property.
Lien issues can also cause title defects. Some examples of lien issues are:
• Lien for labor or materials furnished by a contractor without your consent.
• A previous owner’s failure to pay an existing lien.
• A mortgage or deed of trust.
• A judgment, tax, or special assessment.
• A charge by a homeowners or condominium association.
• Other liens or claims that may exist against your title that are not listed in the policy.
• Any statutory or constitutional contractor’s, mechanic’s, or material man’s lien for labor or materials that began on or before the policy date. Talk to an attorney about your rights.
Contact your title company immediately if someone files a lien or claims an interest for your property. Follow their claim-filing procedures to safeguard your property rights..
A: Title insurance protects you from losses incurred before you bought the property. This can include title defects, liens or related matters. The title company will defend you in court if there is a claim against your property, and will pay for covered losses..
A: After you have received title insurance, the title insurer will defend your right of ownership against attacks such as title defects, liens and hidden hazards. Hidden hazards include:
• Loss because of impersonation
• Indexing or filing errors in the clerk’s office
• Guardianship and probate issues arising from heirs/devisee’s of former owners
• Boundary disputes (Surveyor’s errors).
A: Yes, even detailed title searches may not reveal “hidden hazards” such as the seller not correctly stating marital status, opening up claims from a spouse, as well as fraud and forgery, clerical errors, defective deeds, confusion and mistakes due to similar names or incompetence. These defects can show up after you have already purchased the home and can affect and even threaten your right to ownership of the property..
A: When you are buying real estate property, there may be various rights to the land in question before the property comes into your possession. Before the land can be transferred to you, you must first determine if there are any rights outstanding. Title insurance is essential for home buyers because it protects you and the lender in purchasing real estate property in case the seller does not have free and clear ownership of the house and property in question and thus is not lawfully able to transfer full ownership to you. Having title insurance protects you from financial loss if there are any problems with the title transfer. You are protected by the Title Insurer from any claims made on the title of your property when you are insured.
Title insurance insures you against any financial loss that you can incur caused by defects in the title to real estate. Title insurance companies will also defend you against any lawsuits that attack the title and also reimburse the insured up to the policy limit in the case of a covered loss. Real estate title insurance is your policy of protection against any loss incurred if you have problems from a claim against your right to ownership..
A: Title insurance is bought by the buyer usually along with the loan they take out for the purchase of the home with their lender. For some states, the seller will pay for the new owner’s title insurance policy as a seller closing cost, while in other states, the buyer will pay for the owner’s title insurance policy as a buyer closing cost..
A: Title insurance is not required in every state. Learn more about title insurance in Florida. https://www.myfloridacfo.com/division/consumers/understandingcoverage/TitleInsuranceOverview.htm.
A: When you buy a title policy, you should buy it from a licensed, experienced company. If you buy from an unlicensed company, your claims could go unpaid..
A: A title search is a detailed careful examination of the historical records for a piece of property. These records include documents such as deeds, court records, property indexes, name indexes, and more. Doing a title search helps in verifying the seller’s right to transfer ownership. It also helps in discovering any claims, defects and other rights or burdens on the property..
A: A title search can reveal a variety of title defects and liens, as well as restrictions or encumbrances such as unsatisfied mortgages, unpaid taxes, any judgements against the seller and restrictions on the use of land..