Title insurance insures the marketability of the title on a property and assures the buyer that he or she is receiving “good title.” Title insurance is important since many title problems may not be discovered until many months or years after the closing. Examples of potential title problems include: undiscovered liens or judgments on the property or on the prior owners, forged deeds, falsification of records, improper legal descriptions, etc. Title insurance protects the buyer and the buyer's lender against such title defects.
Kaye Law Offices, P.A. performs a comprehensive title examination to discover any hidden defects that would make the property unmarketable. We work to eliminate as many of these defects prior to the issuance of a title policy. Title insurance for Florida Title Firm, Inc. is affiliated with the popular and highly rated Attorneys Title Insurance Fund, known as "The Fund," and underwritten by Old Republic National Title Insurance Company.
How much is title insurance?
Florida law dictates the minimum rates for title insurance premiums. Our firm charges ONLY the minimum rate. An Owner's Policy title insurance premium is typically calculated based on the purchase price of the home or fair market value:
Example Home Amounts & How Much Title Insurance Would Cost:
In addition, lenders typically require a mortgagee title insurance policy (called a Lender's Policy). This is issued simultaneous to the Owner's Policy and our firm charges only the minimum rate: $25. If you are refinancing, the premiums are calculated at a much lower rate. Please call us at (888)786-1418 or fill out our contact form for a quote.
Who pays for title insurance?
It varies, depending on which county the property is located in. In Palm Beach County, it is the Seller who pays for title insurance. In Broward and Miami-Dade, it is the Buyer who pays title insurance. Whoever pays for title/closing costs has the right to choose the title/closing company. You do not have to choose the title/closing agent that your realtor recommends. Kaye Law Offices, P.A. is a law firm above all else, and therefore can provide you with any counseling you will undoubtedly need during the real estate process.
Contact us as soon as you have entered into a contract on the sale or purchase of your home, or if you are about to enter into a contract on your home and have a sure buyer.