Home ownership should be hassle-free. Once you close on your house and get settled, you shouldn’t have to worry about who owns your home. Doesn’t always work that way.
In our human world, errors occur…and sometimes omissions…or undisclosed heirs. Sometimes a title company (not mine I hope!) misses a document in public records during a title search. And every now and then, there’s a case of forgery. Any of these things can put your home ownership in jeopardy.
Title Insurance can’t fix that. What it can do is pay litigation costs should one of these events become an event in your life.
Home ownership comes with responsibility. As a homeowner, you are responsible to defend your ownership. Title Insurance gives you peace of mind knowing that if your ownership comes into question, the cost of legal defense (an attorney and all court fees) is paid for with your policy.
Home ownership is not hassle-free, but you can have financial peace of mind over a piece of property with Title Insurance.
Stephen CollinsPeace of Mind on a Piece of Property
Some people have plenty of money, are self-insured—I’m not worried about them because they can afford to take the risk. For the rest of us though, a little bit of money spent on title insurance can go a long way.
Title Insurance fees are regulated by the State of Florida. The base rate is $5.75 per thousand up to $100,000 and $5.00 per thousand thereafter up to $1 million. The bottom line is that it’s a one-time fee at closing that protects you for as long as you or your heirs have an interest in the property. It pays valid claims and covers the cost of a legal defense of your ownership. And it’s a lot cheaper than paying for an attorney yourself.
Don’t know if you’ve had to hire a lawyer lately, but it’s dang expensive! Not every homeowner is going to come up against a question of their home ownership, but it’s a big risk if you don’t have title insurance.
For a little bit of money up front, never to bill you again, you can buy an owner’s title insurance policy that insures you into the future for the faults of the past, even protecting you after you sell that property through all past hidden claims. You have that fee, versus the risk of financially defending yourself on your own.
Insure yourself, it’s cheaper than you think when compared to the risk.
Stephen CollinsInsure Yourself, It’s Cheaper Than You Think
Answer:Clear Title means that no one else has ownership rights or financial interest rights over a real estate property title.
When a buyer receives Clear Title by virtue of a Title Search, that means there are no obvious defects to the title, but a Title Search is insufficient to disclose unrecorded risk that could exist.
Even with Clear Title, it’s a smart move to get Title Insurance. Despite Clear Title, court cost to defend your ownership can become cost prohibitive. Title insurance will bear that cost for you. It can be very expensive to have Clear Title if you don’t have Title Insurance to go with it.
There’s a lot to know in the real estate market and details can make a big difference. With over 30 years of service in Northeast Florida, if we can answer a real estate-related question for you, please ask us!
It’s snowing up North, it’s sunny down here, and there are sweetheart deals to be had in Florida real estate. What better way to say “I love you” than with a piece of property? It could be a romantic winter retreat or a heartwarming new homestead.
Diamonds are forever, but land title is subject to debate. If you are buying land to last, get title insurance. Just because you’ve found a sweetheart deal on a gem of property, don’t shortcut on the setting. Make sure that land is going to remain in your name or in the name of the one you love by buying title insurance to go with it.
Love is blind, and sometimes a title search misses a claim. Title insurance is good from the day you purchase it backwards, covering any unforeseen flaws and pays for litigation should someone try to claim your land.
Avoid heartbreak in your purchase. Support your right to land ownership with the means to defend it through title insurance.