Searches And Mortgage Tile Insurance In Ft. Myers, FL

In Florida, title insurance is issued during a real estate transaction. The policy starts when the title search begins. The primary purpose of the title insurance is based on a review of the chain of ownership. The title insurer conducts the search and ensures that all transfers were lawful. They prevent the fraudulent sale of real estate properties. Mortgage title insurance in Ft. Myers, FL is critical for protecting against a financial loss.

What Does Title Insurance Provide?

It offers protection against property damage and loss. These losses equate to ownership claims against the property. The insurance protects against future occurrences related to these claims. The insurance itself is acquired prior to the title search and paid at the close of escrow.

Possible Occurrences Covered Under Title Insurance

 *     Encroachment. This indicates that the property lines weren’t defined clearly. An encroachment prevents the sale of the portion of the land that flows into the jointing property. If discovered, a new survey must be performed to define accurate property lines. This presents a loss due to a reduction in the lot size.

 *     Property liens. Property liens occur when the existing owner starts their mortgage contract. These liens are paid off during the closing process. However, property tax and creditor liens require the current owner to pay them before they have the legal right to sell the property. The title search includes an assessment of property taxes owed for the property. Any judgment involving the property generates a lien by the creditor. A search for judgments reveals these requirements.

 *     Easements. Easements exist when the current property owner signs a contract for land use. They are related to the use of the land to extract a natural resource such as oil. An existing easement requires the owner to fulfill their obligation before selling the property.

 *     Fraud. The fraudulent transfer of ownership is detected through a title search. Any unlawful transfer must be remedied before the closing. These transfers of title occur when the property is sold or awarded through a will. The title search identifies all instances where the property sold. Any related issues connected with these transfers is reviewed and verified.

In Florida, the title search during a real estate transaction provides detailed information about the property. It identifies any circumstances that may affect the sale. Property buyer who need mortgage title insurance in Ft. Myers FL can visit .

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