Hollywood FL Title Insurance Company
If you are involved in a real estate transaction, you may need a Hollywood FL title insurance company to provide you with some important services. Your title company can assist you in determining which options are right for you. Understanding how title insurance works can help you to avoid issues that could prove costly for you when purchasing real estate. Here are some facts you should know about title insurance in Florida.
What Is Title Insurance?
A title or deed is a means by which ownership is conveyed from one person or entity to another. In the state of Florida, there are two basic kinds of title insurance:
- Owner’s title insurance is not required. It is, however, recommended as a way to protect yourself against a variety of losses that can occur if your title to the property is challenged or if liens are found on the property you are purchasing. Failing to check the validity of the title can cause serious financial difficulties up to and including the loss of your property and the funds you invested in it.
- Lender’s title insurance is required for properties on which you plan to obtain a mortgage. This insurance policy protects the lender against losses caused by defects in the title of the property. It does not, however, protect the owner against similar losses caused by issues with the title or deed.
What Does Title Insurance Cover?
Title insurance offers some real protection against common issues that can arise when purchasing real estate properties in Florida. By working with a trusted Hollywood FL title company, you can avoid financial losses that could result from problems with your property’s title.
- Even small mistakes in recording legal documents associated with ownership of a particular real estate property can add up to big problems for owners. Title insurance protects you against financial losses caused by these minor errors.
- Liens can be placed against properties for unpaid taxes or for contracting work that was not paid for in full or at all. If you purchase a property that has liens placed against it, you become liable for the amounts owed on these liens. Title insurance can cover the cost of paying off liens and ensuring that you have free and clear title to your properties.
- Title insurance from a reputable Hollywood FL title company can also provide protection against claims by others of ownership or partial ownership of your property.
- If fraud or forgery is detected in a deed in the real estate chain of ownership, your title insurance coverage can protect you against financial losses associated with these fraudulent documents.
- Your title insurance policy can also protect you against less common issues that can affect your ownership of your property. Cases of identity theft, mistakes in property lines and questions about inheritance rights can all be responsible for significant financial liabilities associated with the purchase of a home or other property.
By investing in owner’s title insurance, you can avoid significant financial losses that could cause you serious difficulties. Your Hollywood FL title insurance company can help you navigate the real estate marketplace with greater confidence and increased protection for your investment.
Is Title Insurance Expensive?
Title insurance rates in Florida are governed by Rule 69O-186.003 of the Florida Administrative Code. This rule establishes risk rate premiums for title insurance for properties at all value levels. Because the rates charged are standardized, you can be sure that your premiums are in line with those paid by others for properties valued at about the same as yours.
Unlike other forms of insurance that must be paid monthly or annually, title insurance premiums are a one-time cost. This makes them an even better investment for those purchasing homes or other properties in Florida.
Protecting Your Investment With Rock Solid Title
Rock Solid Title is a trusted Hollywood FL title insurance company with the experience and expertise you need to ensure that your real estate investment is safe from challenges to your title. We offer practical help for real estate agents, lenders and buyers in managing risks associated with liens and other encumbrances on your title. Give us a call today at 305-868-7800 or contact us through our online form to learn more about us and the services we offer. We look forward to the chance to help you protect your real estate investment more effectively.