Phone: 239.540.7007
Title Insurance
A property’s title documents all of the legal procedures, details, and other important information about an estate. Moreover, it also serves as a way to prove ownership of a property. This is why, when you buy, sell, or pass on an estate to another person, you need to transfer the titles to register that transaction legally. If you’d like a guide on how you can do this, continue reading.

How to Transfer Property Titles

Run a Title Search

First of all, you’ll want to run a title search, and even acquire title insurance in Fort Myers, on the property. This will ensure that there aren’t any issues in it that could jeopardize the transfer.

Hire Assistance

For this process to go smoothly, you’ll need to abide by the law. This is why you should hire a real estate lawyer to guide you through the legal procedures and give you advice on what to do.

Write a New Deed

The next step is to write up a new deed. In it, you’ll need to include some specifics such as the property’s address, the owner’s name, who the beneficiary is, the type of deed it is (quitclaim, warranty, etc.) and more. You can have your lawyer do it, or you can follow an online template.

Review the Deed

It is strongly advised that you get together with the other party and review the deed before signing it off. This way, you’ll be able to resolve any pending matters and reach agreements.

Sign and Register

These last two steps are fairly simple. Both the owner and beneficiary will have to sign the deed. After that, one of you will have to take it to the courthouse of the county the house is in, to have it legally registered.

Call 239.540.7007 for Title Insurance in Fort Myers

If you require a reliable title services company to get through your real estate transaction in a safe manner, look no further than Schutt Law Firm, P.A. in Fort Myers. Their expertise will provide the guidance you need during those complex processes. Call for more information.

Check back on this blog for more tips, like How to Build a Good Relationship with Your Real Estate Agent.
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