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What Is Title Insurance?

If you are buying a home, you will have a lot of topics on your mind.  Title insurance probably is not one of the issues even on your radar.

Title insurance is actually a two-part transaction.  The Tampa title attorney first searches local Tampa property records to ensure that there has not been any error, mistake in the examination of records, undisclosed owners, fraud, unknown liens, omissions in the deed or any other problems with the deed.  The search verifies that the seller really owns the Tampa property and can sell it without repercussions.  Defects with the deed are found in one-third of all title or public records, and it is the job of the Tampa title attorney to fix this error before the sale closes.

After the Tampa title attorney searches all records, he contracts with an underwriting company to issue a policy that will pay to defend the buyers in court if anyone challenges the title.  The insurance policy will compensate a buyer if they lose equity when a title is challenged in court.  Tampa real estate buyers need to consider attaining two policies, one which protect their family and the second which protects the lender.

Here are a few questions that all home buyers can ask a Tampa title attorney before getting a title insurance policy:

  • Is Florida a state with regulated prices?
  • What kind of coverage would you recommend?
  • Will a different Tampa title attorney recommend more coverage?
  • Who is supposed to be paying for my title insurance policy?
  • Will one Tampa title attorney recommend a specific title company over another?
  • How do I know which Tampa title attorney is telling me the truth about title insurance?

If you are ready to delve into the subject of title insurance, Frank Charles Miranda, P.A. is prepared to take on the role as your Tampa title attorney.  Call 813.254.2637 to set a time for an appointment to discuss your home buy.

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