Naples, FL Real Estate Title Insurance Services
The Naples title insurance attorneys at Woods, Weidenmiller, Michetti & Rudnick LLP serve as title insurance agents on real estate transactions throughout the state of Florida. Our title insurance underwriters include Old Republic National Title Insurance Company and Attorneys Title Insurance Fund.
From residential real estate closings to complex commercial real estate transactions, WWMR provides title insurance services to homeowners, lenders, builders, developers, real estate professionals, and other clients seeking protection for property interests in Naples, Collier County, Lee County, Fort Myers, Bonita Springs, Southwest Florida, and throughout Florida.
The firm’s title services are strengthened by years of experience in Florida real estate law and are designed to help identify, resolve, and insure against issues that may affect ownership or closing when buying or selling property.
Florida Title Insurance Services for Real Estate Transactions
Florida Statutes section 626.841(1) defines a “title insurance agent” as a person appointed in writing by a title insurer for the purpose of issuing and countersigning binders, commitments, policies of title insurance, or guarantees of title on its behalf.
Title insurance protects ownership interests in real property. It informs buyers, lenders, and other parties of recorded interests in the property, including liens, encumbrances, deeds, mortgages, judgments, taxes, and other legal issues that may affect ownership or marketable title.
Before a real estate transaction involving a loan or sale is completed, a title company searches the appropriate land records to determine ownership, claims, legal documents, and other matters affecting the property. This title search helps identify issues that may need to be resolved before closing, including defects, liens, deed problems, or other title concerns.
Have a title insurance question about a Naples real estate transaction? Talk to a real estate lawyer at WWMR.
Title Search, Deed Review, Liens, and Title Commitments
Title search results are summarized in a preliminary document called a Commitment for Title Insurance.
The title commitment helps the buyer and seller identify what must be resolved before closing. It states the status of ownership and enables the lender, purchaser, real estate attorney, and other parties to evaluate the legal status of title before the property is acquired.
The commitment also serves as an agreement by the title company to issue a title insurance policy if the requirements stated in the commitment are satisfied. These requirements may involve documents to be signed, liens to be released, deeds to be recorded, escrow conditions to be satisfied (e.g., deposits, payoff amounts, closing documents, or funds held pending resolution of title issues), or other matters that must be addressed before the transaction can close.
Title review is separate from a physical inspection, but both can affect a buyer’s comfort level moving forward. If a title commitment raises unexpected exceptions, requirements, or defects, it may be wise to consult an attorney before closing.
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Title Insurance and Property Law Risks That May Not Appear in Public Records
Even a careful title search cannot uncover every possible problem. Purchasers and lenders may still face legal issues involving forged or fraudulent documents, legal incompetence of a person who conveyed the property, lack of authority to convey, improper administration of a decedent’s estate, trust-related authority issues, or human error in the public records.
Title problems can affect not only ownership on paper, but also possession, use, financing, and the future transfer of the property. For example, a recorded easement or an unrecorded access issue discovered during due diligence can affect how the property is used, whether it can be financed, and whether future development plans can move forward. The title search may reveal deed restrictions or recorded covenants affecting use of the property as well.
These issues can also arise when prior transfers involved estate planning documents, trusts, probate, or authority questions, and they can affect ownership, title insurance coverage, lender rights, and the ability to sell, refinance, or transfer the property. If an unknown title defect arises, a title insurance policy provides access to a financially responsible resource that can help protect the insured owner’s or lender’s interest according to the terms of the policy.
Owner’s Title Insurance and Lender’s Title Insurance
The right title insurance coverage depends on who needs protection: the buyer, the lender, or both.
Separate title insurance policies protect different interests. Although separate policies may insure the same property, a person or entity that is not named as an insured is not entitled to protection under the policy.
A buyer should not assume the lender’s policy protects their ownership interest, and vice versa.
The lender’s title insurance policy protects the lender’s interest. It does not protect the property owner. Likewise, a prior owner’s title insurance policy will not protect a new buyer.
For example, if only a loan policy is issued to a lender and title to the insured property is later determined to be invalid because of a forged deed, the lender may be compensated for loss, but the owner may still lose the property and remain obligated on the loan.
If the owner had obtained owner’s title insurance coverage, the owner would also be compensated for loss of the property according to the terms of the owner’s policy.
Title Insurance Claims, Legal Representation, and Litigation
Title insurance is different from property insurance, which generally concerns property damage rather than ownership defects.
If a claim is made against ownership of the property, the title insurance policy can protect the insured by defending the insured interest in a court case and paying covered costs, attorney’s fees, and expenses incurred for that defense. If the claim is shown to be valid, the underwriter may pay the covered claim up to the amount of the policy or undertake the responsibility and expense of perfecting and protecting title as it was insured, according to the provisions of the individual policy.
Title insurance claims may involve lien disputes, deed defects, forged documents, ownership challenges, escrow issues, title company errors, or other legal issues affecting real property, such as boundary issues, encroachment concerns, or access disputes.
When title insurance questions turn into disputes or litigation, an experienced attorney can help evaluate the policy, the claim, the title history, and the available path forward.
Residential and Commercial Real Estate Title Insurance Services
From the simplest residential closing to the most complex commercial real estate transactions, WWMR is committed to providing exceptional customer service and knowledgeable legal advice to homeowners, lenders, builders, developers, business owners, and other real estate professionals in need of title insurance services.
For residential clients, title insurance helps protect one of their most important assets: their home. For commercial clients, title insurance can be a critical part of evaluating the risks tied to acquisition, financing, development, leases, business law concerns, and future transfer of the property.
Title Insurance FAQs
What is title insurance?
Title insurance is your policy of protection against loss if any of these problems – even those not revealed by a diligent title search – results in a claim against your ownership.
How does title insurance protect my investment if a claim should arise?
If a claim is made against your property, title insurance will, in accordance with the terms of your policy, assure you of a legal defense – and pay all court costs and related fees. Also, if the claim proves valid, you will be reimbursed for your actual loss up to the face amount of the policy.
Are there different types of title insurance policies?
Yes. Basically there are two different types of policies – a loan policy and an owner’s policy. The loan policy protects the lender’s interest in the property as security for the outstanding balance under the buyer’s investment or equity in the property up to the face amount of the policy. (Title insurers in many states offer increased policy coverage through inflation endorsements to cover increases in value due to inflation.)
How much does title insurance cost?
Probably a lot less than you think. Charges vary in different sections of the country, but generally the cost of title insurance is about one percent or less of the cost of the property. And unlike other insurance premiums, which must be paid annually, a title insurance premium is paid one time only, usually at settlement, making it one of the most cost-effective insurance investments one can obtain.
How long does my coverage last?
For as long as you or your heirs retain an interest in the property and, in some cases, even beyond.
Where can I get title insurance?
Any real estate attorney or licensed title insurance company operating in your state can issue title insurance as an agent for one or more title insurance underwriters. When choosing a title insurance agent (real estate attorney or licensed title insurance company), it is important that you look for expertise and experience, as well as the financial strength of the title insurance underwriter to protect you should a claim arise. Woods, Weidenmiller, Michetti & Rudnick LLP is an approved agent for Old Republic National Title Insurance Company and Attorneys’ Title Insurance Fund, Inc.
Trusted Title Insurance Attorneys Serving Naples, Southwest Florida, and Florida
A Naples, Florida law firm serving clients statewide, WWMR brings real estate law experience, comprehensive title insurance knowledge, and legal representation to residential and commercial real estate transactions.
Whether the matter involves a title search, title commitment, deed issue, lien, escrow concern, title defect, or title insurance policy, our skilled real estate attorneys help clients understand and protect their interests before and after closing.
To speak with real estate lawyers in Naples about title insurance, closings, and Florida real estate transactions, connect with us.
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