Title Insurance

It is strongly recommended by the Florida Association of Realtors including Realtors in  Port St Lucie, Palm City, Stuart, Jupiter and the Palm Beaches  to obtain Title Insurance, or an Owner’s Policy to protect you from any hidden title problems. Sometimes title problems occur that could not be found in public records or are inadvertently missed in the title search process. To help protect you in these events, it is recommended that one obtains an Owner’s Policy of Title Insurance to insure you against unforeseen problems.

Title Insurance does not eliminate title defects that may later surface, but it does protect and assure you of the best possible legal defense if your title is attacked. Title Insurance will reimburse you up to the face amount of the policy if the title, or any part of it, should fail.

If there is a loan involved there will be a title insurance policy covering the lender for the amount of the borrowed funds, and another policy issued covering the new owner of the property up to the full purchase price.

In a cash sale, there would be only an owner’s policy.

Title insurance is usually one of the largest expenses of closing a sale and can be paid by either the buyer or the seller and is often split between the two.  

Title Insurance protects the lender against any errors in the results of the title search. If an issue arises, the Title Insurance covers the lenders investment in your mortgage.

Possible hidden title problems can include:

• Errors or omissions in deeds
• Mistakes in examining records
• Forgery
• Undisclosed heirs