Florida Title Insurance Policy Florida Title Insurance Policy

Why Is Having a Florida Title Insurance Policy So Crucial?

Jun 10 2020

The Importance of Purchasing a Florida Title Insurance Policy

When buying a home in Florida, purchasing a Florida title insurance policy is crucial, as it is the only thing that can protect both you and your home against title issues that arise after closing. Closing on a home in Florida, unfortunately, does not mean it will be yours forever or that no one else has the right to legally own and use the property. Even many years after closing, issues can arise, and you could end up losing the home you bought. The only way to avoid this is to have a Florida title insurance policy. If you are looking to buy a home in Florida, read on to learn the benefits of having a Florida title insurance policy as well as why it is indescribably vital to hire a reliable title & escrow company to manage your real estate closing.

Understanding Title Defects

At the closing stage of the home-buying process, you will hear the term “title defects” often. If your title agent tells you they have found a defect on the title to the home you intend to buy, it means they have found a legal claim or circumstance that can obstruct the verification of the property’s title and, therefore, delay the identification of the property’s true owner. In other words, a title defect could mean that the person that is selling you the home does not have a legal right to sell it, and that person may not even be aware of that. Before you close on a property, you need to “clear” its title, meaning you must resolve all title issues found during the title search.

Experts often say that about 30% of all titles in the State of Florida have some sort of defect, which is a shockingly high percentage. This abundance of title defects is the main reason why buying a Florida title insurance policy issued by a reliable title company is vital. Trying to clear a title without any help can be like trying to stop the Titanic from sinking by attempting to levitate the massive 52.3-ton ship with your mind. If you are considering buying a home in Florida, shielding yourself against title defects is critical, and the best way to do so is to hire experts that know what they are doing and can give you peace of mind throughout the entire closing process.

The Purpose of a Title Search

The purpose of a title search is to reveal defects in the title to the property you intend to buy. Your title company will conduct a thorough examination of public records to find title issues – known as “clouds on title” – such as property liens or ownership claims and to make sure the seller can legally transfer the title to the property from his or her name to yours. Once the title search is complete, the next step is to clear the title by resolving all issues found and then issue a Florida title insurance policy, which will protect your rights for as long as you own the property.

Choosing a Title Insurance Company

Buying a home is probably the largest investment you will even make – you need to make sure you do not make mistakes. Choosing the right Florida title company to help you close on the home of your dreams is vital. When choosing, the costs of hiring a title company should not be the main factor you take into account. Although buyers usually are concerned about going over budget, they should keep in mind that they will only need to pay for title insurance once.

Luckily, finding a reliable title insurance company in Florida is indescribably less difficult than finding title defects. You already did it – you found Marina Title, a full-service title insurance & escrow company that can help you navigate the home-buying process from start to finish and provide you with an engaging and memorable real estate closing experience.

Contact Marina Title! Give us a call at (305) 901-5628 or schedule an initial consultation with one of our experts by sending an email to Info@MarinaTitle.com.

    Contact Us


      Contact Us


      Featured oN