FREQUENTLY ASKED QUESTIONS & ANSWERS

WHAT IS TITLE INSURANCE?
Title insurance is an actual insurance policy that protects an owner and/or lender against a loss as a result of a title defect. The title insurance agent’s underwriter will reimburse the insured in the event of a loss up to the amount of the purchase price for the owner of the property and for the Lender up to the amount of the mortgage amount if there is a lender involved in the transaction. Unlike most other types of insurance, title insurance is a one time premium paid at the closing.

DO I NEED TITLE INSURANCE? WHAT COULD GO WRONG?
Yes, you need title insurance for the reasons listed below and if you are obtaining a loan the bank will require you to obtain title insurance. Below is a brief list of some of the things that title insurance protects you against loss from:

•    Forged documents such as deeds or wills
•    Fraud
•    Judgments
•    Unpaid real estate or inheritance taxes
•    Conveyances by individuals where their marital status is falsified
•    Boundary or survey errors
•    Mistakes in legal descriptions or recording errors
•    Unsatisfied mortgages of record
•    Incomplete or erroneous probate or lack of probate

WHAT IS THE COST FOR TITLE INSURANCE?
The tile insurance rates are established by the Florida Department of Insurance. The rate they set is called the promulgated rate. The promulgated rate is the minimum rate title insurance companies must charge for title insurance. There generally are several other charges in addition to the title insurance such as title search and examination, closing fee, endorsements and courier fees. For the exact cost of your particular title insurance fees we would need to know the purchase price and other details.

To get a quote for your title insurance please click and select one of the following links:

REQUEST A TITLE QUOTE   or   CONTACT US.

WHY USE INDEPENDENCE TITLE INSTEAD OF SOME OTHER TITLE COMPANY?
Independence Title has been in business for almost 30 years and has an excellent reputation in the real estate community. With Independence Title, you get the services of a title company with the participation of an attorney at no extra charge.