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Title Insurance Lawyers in Orlando, Florida
Title insurance is generally purchased from an attorney or from a title company with the assistance of an underwriter after a thorough title search has been performed. Among the important instruments you will want in place when purchasing property is title insurance. Essentially, title insurance protects you should anyone ever challenge your ownership or interest in a property. Title insurance can help pay your legal costs should you ever find yourself in a dispute about your ownership of a property. If you have questions about title insurance or about conducting a title search on a property, consider speaking to our title insurance lawyer at Legal Counsel, P.A. in Orlando, Florida. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
What is a Title Search and Why is it Important?
Before purchasing property, you’ll want to speak to a lawyer or to a title company to perform a thorough title search, and before you can purchase title insurance, you’ll need to have a title search performed. Why? Sometimes during the process of a title search, issues and problems are revealed that can impact the sale of the property or the value of the property. What are some issues that can come up in a title search?
- Public records errors that can bring the ownership of the property into question.
- Liens that may not have been disclosed or may not be known to the owner.
- Problems with the deed. If the sale wasn’t conducted in a legal manner, the deed could be brought into question. One example of a problem with a deed that can arise is if a person claims to be single when selling or buying property, but it turns out that person is married and their spouse has a legitimate claim to the property.
- Heirs are found who may have a claim on the property.
- Limitations on land use or easements on the property that can impact your right to use the property as you intend.
- Problems that show that the seller may not be the legitimate seller of the property.
- Back taxes, litigation, or other financial encumbrances may be discovered during the title search.
- Federal Tax liens recorded against the Seller which encumber the property.
Identifying these issues before you make your real estate purchase is paramount. This is where a title insurance lawyer at Legal Counsel, P.A. in Orlando, Florida can help. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
Title Insurance and Why it is Important?
Your title insurance lawyer will have an underwriter provide you with a title insurance policy that protect you against claims or losses suffered due to issues pertaining to the title of your real property. This insurance can compensate you for the value of your equity if there is a newly discovered problem with the title that to your property.
There are several types of title insurance policies, and it is often recommended that homeowners purchase the most robust title insurance policy possible. Your home is likely one of the biggest investments you’ll make in your life. Any issues with your title can affect your rights to this investment. Most title insurance policies will protect you if issues of fraud, forgery, undisclosed heirs, etc. However, homeowners may want to purchase additional coverage (more specifically known as “endorsements”) that protects them additional items not covered by a standard title insurance policy. There are also lenders’ title insurance policies. The lender’s title insurance policy protects your bank should a problem with the title arise. Your owner’s title insurance policy protects you. It is important to have a title policy that protects your interests. Legal Counsel, P.A. is a title insurance agent for Old Republic National Title Insurance Company and WFG National Title Insurance Company, who can help you navigate the process of purchasing title insurance for your real estate.
The title insurance lawyer at Legal Counsel, P.A. in Orlando, Florida works hard to protect the interest of buyers and can help you obtain title searches, lien searches, and title insurance. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
Why It is Important to Select Your Own Title Search Lawyer
Selecting your own title search lawyer is important. Remember, your title search lawyer is there to review all documents to protect your interests and rights. Be wary of using a title search lawyer recommended by the seller. Also, you may want to be wary of using the same a title search lawyer or title search company the seller used when he or she made his or her purchase. The same company will likely produce the same results.
Even after a thorough title search, it is important to understand that public records can still reveal errors and issues. Your best bet is to protect yourself after a title search with adequate title insurance. Any claims that come up after your purchase (like unpaid back taxes on the property, clerical errors that bring the ownership of the property into question, or if a will comes up that gives an heir a claim to the property) could fall on your shoulders if you don’t have proper title insurance. Title insurance can also protect you from issues like improper probate proceedings, or any other issues with inheritance and title. Protect yourself. Legal Counsel, P.A. employs a title search lawyer in Orlando, Florida, to assist you with your title search and with selecting the right kind of title insurance for your needs. Title insurance is usually only a one-time expense and it is well worth the peace of mind. Have questions? We have answers. Contact Legal Counsel P.A. today at 407-982-4321.