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Elite Title of the Nature Coast
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7655 W. Gulf to Lake Hwy Ste 4
Crystal River, FL. 34429
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F.A.Q.
What does a title company do?
A title company will first order the title search, as well as provide escrow services throughout the transaction. They act as a central point of contact for Realtor’s, buyer’s, seller’s, lender’s, and any other involved parties. Once the title search is back, the chain of title is reviewed in order to ensure that the title will be free and clear of all judgements, liens, and encumbrances at the time of closing. The title company will also prepare the closing documents, and the closing is typically held at their office.
What is Title Insurance?
TIiie insurance insures against financial loss caused by defects in title to real estate. Title insurance companies defend against lawsuits attacking the title, or in the case of a covered loss, reimburse the insured up to the policy limit.
What kinds of defects does title insurance protect you from?
It protects you against loss due to title defects, liens, or other similar matters. TIiie insurance protects you from claims of ownership by otller parties. It protects you against losses from problems that arose before you bought the property. The title company will defend you -in court if there is a claim against your property, and will pay for covered losses.
Is Title Insurance Required?
On a casll sale, title insurance is not necessarily required however it would be foolisll to nave it. If a claim were to ever arise, you would have zero protection. Claims against a property can quickly add up and wreak havoc on a new property owner financially. A Tille insurance policy is designed to protect you against any defects or claims that may arise long after your purchase is completed. If you are financing a property, your lender will requi re you to buy a Loan Policy of Title Insurance to protect tlleir
int erest.