What Will A Foreclosure Do to a Home Title in Florida?
The rise in foreclosures, short sales and bankruptcies after the recent real estate crises has left a lot of Florida home buyers wondering about the titles to the homes they are interested in. These scenarios can potentially cause complications that a title search agent will need to be on the look out for.
The title to a house is a document that shows who has ownership of the house, usually in the form of a warranty or quit claim deed. This is also important to ensure that the person who is selling the..
Should You Skip Title Insurance on Your New Home?
For many first time home buyers, the idea of title insurance is foreign until they see it on the closing paperwork. This is a special insurance policy that protects a home owner in the event that there was something missed during the title search.
Almost all Florida mortgage brokers are going to insist on a policy to protect their interests, but a new home buyer should also have one drawn up for themselves. If not, you are leaving yourself open to the possibility of having to pay for someone else’s..
The short answer is no. Would you purchase a car without a title? Or one that had liens listed on it? And a car is a small investment compared to a home. Even if you are the first owner of a house in Jupiter, you need to have a title search done.
New Homes in Jupiter, Florida
The question of whether or not a title search is necessary comes up most often with the purchase of a newly built Jupiter home. Buyers are under the false impression that as the first owner, there should be no question of ownership and therefore no need to check the history of the..
When discussing the purchase of new house, the word deed and title are often used interchangeably, when in fact they are two completely different things.
What is a Deed?
A new deed for a property is created each time it changes ownership. This is a document that simply states that the ownership has been transferred from one party or entity to another. This can be created for all or even just a portion of the rights to the property and is not related to any other documentation pertaining to the property. Easements, liens and mortgages may all exist for the..