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Frequently Asked Questions regarding Title InsuranceQuestion: What is title insurance? Answer: Title insurance protects against loss which may occur due to events that happened in the past, including unreported land title defects, forgeries, claims by missing heirs, recording errors, easements and deed restrictions previously placed on the property. For the cost of a single, one-time premium, title insurance protects the property owner against loss resulting from any title defects covered in the policy for as long as the property is owned. Question: What actual protection does title insurance provide? Answer: If a claim is made against real property which results in a loss of title to the property or costs to clear up the defect, title insurance will pay compensation up to the fact amount of the policy which is typically the purchase price amount. If it is necessary to defend title to the property by a claim of ownership filed by another owner, title insurance will pay the cost of the defense even if the costs exceed the face amount. When title insurance is ordered, a title search of the public records is conducted to determine what documents have been filed in the public records pertaining to the subject property, including easements and restrictions. If a survey of the property is prepared using a title search of the property, then the owner will be insured against any encumbrances that do not appear on the survey that are later asserted. This is particularly important with regard to boundary disputes that arise from overlapping legal descriptions or areas that are occupied by a property owner which are not included on that owner's deed (for example, a fence that was put in the wrong location). Question: Will title insurance protect against a boundary dispute? Answer: Yes, if you obtain a survey of the property which is prepared using the title search prepared by the title insurance company and it is certified to the title insurance company and your attorney takes the proper steps to assure that there is no exception listed on the policy against such matters. Helping clients throughout Lake County protect their property rights and investments, we can help you with your real estate concerns today. Located a mile from US Highway 441 in Mt. Dora, we are open Monday through Friday from nine to five. Contact us today for more information. Leslie Campione, P.A. Attorney at Law
342 East Fifth Ave
Mount Dora, FL 32757
Phone: 352-383-9020
Fax: 352-383-4654
Map and Directions │ Email At the Mount Dora, FL offices of Leslie Campione, Attorney at Law, we represent clients throughout Florida, including Tavares, Leesburg, Clermont, Eustis, Apopka, and Lake County, Florida.Printer Friendly View
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