We Make Getting The Right Insurance Easy
We at Southern Title Services serve home buyers and sellers; investors; residential and commercial real estate agents and brokers; national, regional, and local banks and credit unions; builders and developers; attorneys and others involved in any type of residential or commercial real estate transaction in the State of Florida.
Southern Title Services issues title insurance policies to protect the interests of both property owners and mortgage lenders in residential and commercial resale, new construction, and refinance transactions.
The Right Title Company For You!
At Southern Title Services, we issue the title insurance that is right for you:
Title Insurance For Property Owners
Title insurance for property Owners, which is called an Owner's Policy, is issued in the amount of the real estate purchase. It is purchased for a one-time fee at closing and is valid for as long as the owner or his heirs have an interest in the property. Only an Owner's Policy fully protects the buyer should a covered title problem arise with the title that was not found during the title search. Possible hidden title problems can include:
Title Insurance For Mortgage Lenders
Title insurance for mortgage lenders title insurance is called a Loan Policy. Most lenders require a Loan Policy when they issue a mortgage loan.
The Loan Policy is usually based on the dollar amount of the loan, and it protects the lender's interests in the property should a problem with the title arise. It does not protect the buyer. The policy amount decreases each year and eventually disappears as the loan is paid off.
QUESTIONS ABOUT TITLE INSURANCE
First, we will define what a title is. Simply stated, the title to a piece of property is the evidence that the owner is in lawful possession of that property. Title insurance protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances, or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions, and exclusions.
Absolutely! For most of us, the purchase of our home is the single largest investment we will ever make. We certainly don't want anything to threaten that investment. Many homeowners put a lot of thought into the protection of their new home. They purchase homeowner's insurance and even a security system. While these both protect against loss from possible future events, title insurance protects you against financial loss in the event that problems already exist regarding the rights to ownership of your property. There may be hidden hazards or defects that even the most careful preventative title search does not reveal. Title insurance is a means of protecting yourself from financial loss.
No, not necessarily. The lender or mortgagee policy ensures the lender has a valid lien on the property. The owner's policy protects you as the homeowner and your financial interest in the property. You are covered for the face amount of your owner's policy and the cost of legal defense, if any, for a claim, therefore protecting your equity in the property.
No, your Owner's title insurance policy stays in place as long as you, the policyholder- or your heirs - have an interest in the insured property. Your Owner's title policy will pay to either perfect the title or a valid claim. All for a one-time premium paid at closing! Your home is your most important asset. Before you go to closing, ask about your Owner's title policy. Be sure to protect your home and your investment with an Owner's title policy issued by Southern Title Services.