Title Insurance Protects Your Biggest Investment

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Purchasing a home is likely the single biggest investment you will ever make. Before closing on the house, you will want to know that no other individual or entity has a lien or claim to the property.

A title insurance company ensures that your new home doesn't carry encumbrances and other legal obstacles.

You pay the title company a single premium which includes the cost of verifying clear title and covers you in case some fault is later discovered in the title.

The title insurance company performs an extensive search on the property's title history. The title insurance company can usually identify any title problems and clear up these problems before you close on the property.

Real Estate law is extraordinarily complicated. Title companies make sure that all the T's are crossed and all the I's are dotted so you don't end up with a clouded title and legal problems. Your title insurance owner's policy will describe the property and outline any recorded limitations on your ownership. It will also set forth the title company's responsibilities should any claim covered by the policy terms arise. Title insurance covers the following:

• Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. In this case, the title insurance company will defend the title at no expense to you.
• Defective title — "Defective title" covers any number of problems with the title to your home. It can even include a "contested title". Defects are rare, but they can be very difficult, making the property inaccessible, unable to be built, or unsaleable. Many other complex problems define "Defective title" or "Clouded Title." The title company will uncover these title problems, or should they miss them, protect you from financial loss - up to the amount of the policy.

Florida State Mortgage Group, Inc. can walk you through the pitfalls of getting a mortgage. Give us a call at 954-359-3000.