SCHUTT LAW FIRM, P.A.
Phone: 239.540.7007
YOU ARE HERE: HOME / REAL ESTATE
Schutt Law Firm, P.A. - Attorney Profile
Home Closing 101
Do you know what to expect on closing day?
Most people don’t. And that can lead to some uneasiness. But help is here. The American Land Title Association, or ALTA, has created a website featuring information every homebuyer can use to help familiarize themselves with the closing process before walking into the closing
The Home Closing 101 Site
At Home Closing 101 you will find information you can use to prepare yourself for closing. The site covers topics such as title insurance, escrow fees and closing costs. So when the time comes to sign on the dotted line you’ll feel fully prepared.
Home Closing 101 is especially helpful for first time buyers. Buying a house is an exciting time and the more you know about the process, the more relaxed you’ll be going through it. Spend a little time on the site and you can walk through the home buying process, receiving explanations for each step and helpful hints on how to find the right people to help you on your journey to homeownership.
Click here to start learning about the home buying process.
What Is American Land Title Association (ALTA)?
Founded in 1907, ALTA is the national trade association and voice of the title insurance industry. ALTA members search, review and insure land titles to protect home buyers and mortgage lenders who invest in real estate.
ALTA members advocate safe and efficient transfer of real estate and insist on high standards when searching land title records and preparing insurance documents. The industry seeks to eliminate risk before insuring, which provides homebuyers with the best possible chance of avoiding land title problems. But, title difficulties can and do occur, and members offer both Owner’s and Lender’s title insurance policies as effective safeguards.
Click here to visit the ALTA website.
About Stewart Title Insurance
Stewart (NYSE: STC) is a leading provider of real estate services, including global residential and commercial title insurance, escrow and settlement services, lender services, underwriting, specialty insurance and other solutions that facilitate successful real estate transactions. Stewart offers personalized service, industry expertise and customized solutions for virtually any type of real estate transaction, through our direct operations, network of approved agencies and other companies within the Stewart family. Through a focus on integrity, smart growth and conservative management, Stewart remains committed to serving our customers, innovating and improving to meet their needs in an ever-changing market.
Please click on the link below for more information:
WHY TITLE INSURANCE?
Owning real estate is one of the most precious values of freedom in this country. You want the assurance that the property you are buying will be yours. Other than your mortgage holder, no one else should have any claims or restrictions against your home.
Title insurance is issued after a careful examination of the public records. But even the most thorough search cannot absolutely assure that no title faults 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. Title insurance eliminates any risks and losses caused by faults in title from an event that occurred before you owned the property.
Title insurance is different from other types of insurance in that it protects you, the insured, from a loss that may occur from matters or faults from the past. Other types of insurance such as auto, life, or health cover you against losses that may occur in the future. Title insurance does not protect against any future faults, but does protect you from risks or undiscovered interests. Another difference is that you pay a one-time premium for a policy that remains effective until the property is sold to a new owner - even if that doesn't occur for decades.
What is a Lender's Policy?
A lender's policy, also known as a loan policy or a mortgage policy, protects the lender against loss due to unknown title defects. It also protects the lender's interest from certain matters which may exist, but may not be known at the time of the sale.
This policy only protects the lender's interest. It does not protect the purchaser. That is why a real estate purchaser needs an owner's policy.
What is an owner's policy?
An owner's policy protects you, the purchaser, against a loss that may occur from a fault in the ownership or interest you have in the property. You should protect the equity in your new home with a title policy.
What does an owner's policy provide?
- Protection from financial loss due to demands that may be charged against the title to your home, up to the cost of the title policy.
- Payment of legal costs if the title insurer has to defend your title against a covered claim.
- Payment of successful claims against the title to your home covered by the policy, up to the cost of the policy.
Why the seller needs to provide title insurance?
Any purchaser will need evidence that his investment in your property is free of title defects. The title insurance policy that you provide the purchaser is a guarantee that you are selling a clear title to your real estate, unencumbered by any legal attachments that might limit or jeopardize ownership. It will reassure your purchaser that he or she is protected from any risks or losses and could help you close your deal.
Why the buyer needs title insurance?
Without title insurance, you may not be fully protected against errors in public records, hidden defects not disclosed by the public records, or mistakes in examination of the title. As a result, you may be held fully accountable for any prior liens, judgments or claims brought against your new property. If this should occur, your title policy insures that you will be defended at no cost against all covered claims up to the amount of the policy.
How much does title insurance cost?
The insurance commission approves and controls the premiums for title insurance policies. The premiums are paid only once and the cost depends upon the purchase price of the property and the policy amount must be equal to the purchase price.
What does title insurance protect from?
- Fraud
- Adverse possession
- Rights of divorced parties
- Deeds by minors
- Undisclosed Heirs
- Errors in tax records
- False affidavits of death or heirship
- Probate matters
- Deeds and wills by persons of unsound mind
- Conveyances by undisclosed divorced spouses
- Forfeitures of real property due to criminal acts
- Deeds by persons falsely representing their marital status
- Documents executed by a revoked or expired Power of Attorney
- Defective acknowledgements due to improper or expired notarization
- Mistakes and omissions resulting in improper abstracting
- Forged deeds, mortgages, wills, releases and other documents
- False impersonation of the true land owner
Discover crucial home safety upgrades to protect your loved ones. Learn how to enhance your home's safety, from smoke detectors to first aid kits, in this post from Stewart: Schutt Law in Fort Myers.
Safeguard your property rights and ensure a worry-free home purchase with title insurance. Contact Schutt Law in Fort Myers at (239) 540-7007 to secure your investment.
The Foundation of Safety: Smoke Detectors and Carbon Monoxide Alarms
Home safety upgrades begin with the fundamentals. Smoke detectors and carbon monoxide alarms are non-negotiable additions to any household. These life-saving devices tirelessly monitor the air, alerting you to the presence of smoke or dangerous levels of carbon monoxide – an odorless, invisible gas that can be fatal. When installing these detectors, follow the manufacturer's guidelines meticulously. Place smoke detectors in every bedroom, hallway, and floor of your home. Carbon monoxide alarms should be positioned near sleeping areas and fuel-burning appliances. Regularly test and replace the batteries to ensure optimal functionality.Fire Extinguishers: First Line of Defense Against Fires
A well-maintained fire extinguisher is an indispensable tool in any home. In the event of a small fire, a fire extinguisher can prevent the situation from escalating, giving you precious time to evacuate or call for help. Place fire extinguishers in easily accessible areas, such as the kitchen and garage, where fires are more likely to occur. Understanding how to use a fire extinguisher is equally important. The PASS technique – Pull, Aim, Squeeze, Sweep – is a simple method to remember during emergencies. Regularly inspect your fire extinguisher's pressure gauge to ensure it's in the green zone, signifying it's ready for action.First Aid Kits: Be Prepared for Minor Injuries
Accidents happen when least expected. That's why a well-stocked first aid kit is a home safety upgrade that can't be overlooked. Your first aid kit should include essentials such as:- Adhesive bandages
- Antiseptic wipes
- Gauze
- Tweezer
- Adhesive tape.
Uncover the crucial role of title insurance in real estate transactions. Reach out to Schutt Law in Fort Myers at (239) 540-7007 to learn how these measures can protect your investment and provide peace of mind.
Security System Integration: Peace of Mind in the Digital Age
Advancements in technology have revolutionized home security upgrades. Modern security systems offer a comprehensive approach to safeguarding your home. Video doorbells provide real-time monitoring of your front entrance, deterring potential intruders. Motion sensors and surveillance cameras can be strategically placed to cover blind spots and vulnerable areas. Consider a security system that offers remote access, allowing you to monitor your home via smartphone or computer. Some systems also integrate with smart home platforms, enabling you to remotely control lights, locks, and cameras. The added layer of security these systems provide can significantly enhance your peace of mind.Childproofing: A Must for Growing Families
For families with young children, childproofing is an imperative home safety upgrade. Toddlers are naturally curious, and their exploration can lead them into potentially dangerous situations. Install safety gates at the top and bottom of stairs, and secure heavy furniture to the wall to prevent tip-overs. Cabinet locks are essential to keep curious hands away from hazardous cleaning supplies and sharp objects. Outlet covers prevent electrical shocks, and window guards ensure windows cannot be opened wide enough for a child to fall through. These simple upgrades create a safer environment for your little ones to explore.In Conclusion
Home safety upgrades are not only about protecting your property – they're about safeguarding the well-being of your family. Each upgrade contributes to a comprehensive safety net that provides peace of mind, from the basics of smoke detectors and fire extinguishers to the advanced technology of smart security systems. By incorporating these essential upgrades into your home, you proactively prevent accidents, mitigate risks, and respond effectively to emergencies. Remember, safety is a continuous journey. Regularly inspect, test, and maintain your safety devices to ensure they're always ready to serve their vital purpose – keeping your loved ones safe and sound.Don't leave your property's future to chance. Call Schutt Law in Fort Myers at (239) 540-7007 to explore the significance of title insurance, ensuring a comprehensive protection plan for your real estate transaction.
12601 New Brittany Blvd
Fort Myers, FL 33907
Phone: 239.540.7007
Fax: 239.791.1080
