Yes, to protect possibly the most important investment you’ll ever make – the investment in your home. With a title insurance policy, you as owner, have an indemnity contract that will reimburse you for loss in the event someone asserts a claim against your property that is covered by the policy.
Title insurance is issued after a careful examination of copies of the public records. However, even the most thorough search cannot absolutely assure that no title hazards are present, despite the knowledge and experience of professional title examiners. In addition to matters shown by public records, other title problems may exist that cannot be disclosed in a search.
Forged deed, Instruments executed under invalid or expired power of attorney, Undisclosed or missing heirs, Mistakes in recording legal documents, Misinterpretations of wills, Deeds by persons of unsound mind, Deeds by minors, Deeds by persons supposedly single, but in fact married, Fraud, Liens for unpaid estate, inheritance, income or gift taxes, False impersonation of the true owner of the property
In most cases, the seller will pay for the title insurance in the state of Florida.
Estoppel Certificates are required of condominiums, cooperatives, and homeowners associations in Fl. to ensure that all assessments, and condominium dues have been paid and are not past due.