How to Get Title Insurance in Florida
Understand the process of obtaining essential title insurance in Florida with Location Title & Escrow LLC. Protect your property investment with our expert guidance.
Step 1: Understand What Title Insurance Is
Title insurance protects homeowners and lenders from financial loss due to defects in a property's title. These can include undiscovered liens, encumbrances, fraud, or errors in public records. There are two types: an Owner's Policy (protects the buyer) and a Lender's Policy (protects the mortgage lender).
Step 2: Choose a Title Company or Attorney
When you're buying property or refinancing, you'll need a title company like Location Title & Escrow LLC or a real estate attorney to handle the title work and closing. They will facilitate the process of getting title insurance.
Step 3: The Title Search
Your chosen title company will perform a comprehensive title search. This involves examining public records (deeds, mortgages, wills, tax records, court judgments, etc.) to identify any issues or claims against the property's title.
Step 4: Title Examination and Commitment
After the search, the title company examines the findings and issues a Title Commitment (also known as a title binder). This document outlines the current status of the title, lists any requirements that must be met before a policy can be issued, and states any exceptions to coverage.
Step 5: Clearing Title Issues (If Any)
If the title search reveals any problems (e.g., an unpaid lien, an easement dispute), these must typically be resolved before the closing can proceed and the title insurance policy can be issued. Your title company will work to help clear these defects.
Step 6: Pay the Premium at Closing
The premium for title insurance is a one-time fee paid at closing. In Florida, the party responsible for paying for the owner's title insurance can vary by county and negotiation (often the seller in some counties, the buyer in others). The lender's policy is typically paid by the buyer/borrower.
Step 7: Issuance of the Title Insurance Policy
Once all requirements are met and the closing is complete, the title company will issue the final Owner's Title Insurance Policy and Lender's Title Insurance Policy. Keep your owner's policy in a safe place as it protects you for as long as you or your heirs own the property. Location Title & Escrow LLC ensures you receive your policy promptly. If you're looking for comprehensive title insurance, Location Title & Escrow LLC provides expert residential title services and commercial title solutions.
Need Title Insurance in Florida?
Location Title & Escrow LLC provides comprehensive title insurance services to protect your real estate investment. Our experienced team is ready to assist you.
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