SCHUTT LAW FIRM, P.A.
Phone: 239.540.7007
Title Insurance
04/07/2022
Given the progressive movement of the world economy, this post by Schutt Law in Fort Myers may come in handy to help you understand how inflation affects the real estate market before you jump headfirst into the sector.

Don't forget the importance of getting title insurance to shield your...

03/10/2022
If you want to get started in real estate without having to risk large amounts of money, Schutt Law in Fort Myers shares this guide on how to take your first steps to invest in real estate. Keep scrolling and take notes!

Using the right tools will help you close the sale quicker. Reach out...

02/07/2022
A move can be stressful or a good change of scene depending on the person. Many go through several phases, and hopefully, this post by Schutt Law in Fort Myers can help people move houses smoothly.

If you're ready to purchase your dream home, let the experts at Schutt Law in Fort Myers find the...

01/07/2022
Buying a house near the sea is an excellent investment opportunity and ideal property to enjoy the outdoors. Keep reading this post by Schutt Law in Fort Myers to find out the benefits of buying a house facing the sea.

When investing in houses facing the sea, there are several purchase options...
12/02/2021
Relying on professionals could expedite the buying and selling process more manageable. Read this post by Schutt Law in Fort Myers to learn more about real estate brokers is and their real estate services. 

Do you want to learn more about title insurance and real estate? Well, stopping...

11/08/2021
To prepare for your first encounter with a mortgage broker, Schutt Law in Fort Myers has come up with the following blog post centered on all the basics you must know before meeting up with a hypothecate.

If you have just started your search for your dream home or your family is on the hunt...
10/05/2021
Are you a real estate professional? Or, are you about to sell your house? Read this post by Schutt Law in Fort Myers and take advantage of technology and social media benefits to close the sale. 

Using the right tools will help you close the sale quicker. Reach out to Schutt Law in Fort Myers, ...

09/10/2021
Several factors will help you discover if it's the right time to buy a house or get into real estate investment. Keep reading this post by Schutt Law in Fort Myers. Hopefully, it'll help you make your decision. 

When Is the Right Time to Buy a House?

Investing in your future guarantees...
08/09/2021
If you're planning on selling a home, you're probably trying to come up with ideas to increase its appraisal so, the experts at Schutt Law in Fort Myers share a few secrets to do so in this post. Read on!

Clever buyers protect their rights to ownership with title insurance in Fort Myers, which...

07/07/2021
Keep reading this post by Schutt Law in Fort Myers to learn more about getting your rental deposit back if your lease is about to expire and you don't want to renew it.

Once the lease period ends, the owner must return the rental deposit as a guarantee when signing the lease. Each lease will...
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 heirshipProbate 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