Title Insurance

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Title, Deeds And Ownership Restrictions
- Concept of Title. Who Really Owns It?
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FLORIDA REAL ESTATE SALES ASSOCIATE COURSE

Title, Deeds And Ownership Restrictions

Section 23 of 39

Title Insurance. Most insurance (car, health, life) protects you against things that might happen in the future. Title Insurance is the opposite. It protects you against things that already happened in the past but haven't been discovered yet.Example: A forgery in a deed from 20 years ago, or an undisclosed heir who appears out of nowhere.It is a one-time premium paid at closing. No monthly payments.There are two separate policies issued at closing. You need to know the difference:1. Owner's Policy protects the buyer (New Owner). The total purchase price of the home. It protects this owner. When they sell the house, the policy ends. The new buyer needs their own policy. It is not legally required, but it is standard practice.