Questions and Answers
A1A Beachside Title is your go-to for all your title insurance needs. Our team of knowledgeable experts will help you understand title insurance and make the process as easy as possible. Below are some answers to common questions asked about title insurance.
What is Title Insurance?
Owner’s title insurance protects your right to your home.
By searching, clearing, and insuring the title to your home before you buy it, your owner’s title policy offers protection for your property rights for as long as you and your heirs own your home.
If ownership of your property ever comes into question, an owner's title insurance policy protects you from expensive legal problems that could result in the loss of your home.
What does Owner's Title Insurance cover?
These are some of the hidden title risks that would not be disclosed by even the most meticulous title search, but are covered by an Owner’s policy of title insurance.
Fraud in the execution of documents
Undue influence on a grantor of a deed
False impersonation by someone purporting to be the owner of the property
Errors in surveys
Undisclosed or missing heirs
Wills not properly probated
Misinterpretation of wills and trusts
Mental incompetence of a grantor of a deed
Transfer of title by a minor
Heirs born after the execution of a will
Incorrect legal descriptions
Non-delivery of deeds
Unsatisfied claims not shown on the record
Deeds executed under expired or false powers of attorney
Confusion due to similar or identical names
Dower or courtesy rights of spouses of former owners
Incorrect indexing of the land records
Clerical errors in recording legal documents
Delivery of deeds after the death of the Grantor
How could these not have been dealt with before?
As property changes hands, mistakes and irregularities – often made long before you expressed interest in the property – can place your ownership in dispute.
The seller may have:
Avoided disclosure of using the property as collateral for an unpaid loan.
Fraudulently claimed to be the sole owner.
Failed to pay real estate taxes.
Even a simple mistake in the recording of legal documents, improper execution of legal instruments or the reappearance of undisclosed or missing heirs can result in the loss of your home.
What are the Common Forms of Vesting Title for Ownership of Florida Property?
THE MORE COMMON WAYS OF VESTING TITLE IN THE STATE OF FLORIDA INCLUDE THE FOLLOWING:
(VESTING MUST BE LIMITED TO ONLY ONE VESTING DESCRIPTION)
Husband and Wife: Title by entireties. Neither spouse can sell the property without the other. Upon death, the decedent’s interest passes to the spouse directly avoiding probate. Language in the deed such as “John and Mary Smith, husband and wife” establishes this type of ownership.
Sole Ownership: Owned entirely by one person. Language in the deed such as “John Smith, a single man” establishes title as sole ownership.
Tenants in Common: Upon death, a co-tenant’s interest passes to his heirs names in the will who then become new tenants in common with the surviving tenants in common. Language in the deed such as “John Smith, a single man and Peter Jones, a single man, as tenants in common” establishes title as tenants in common.
Tenants in Common as to an undivided interest: Title may be held in fractional interests and may be unequal. Each co-tenant may sell, lease or will to his heir that share of the property belonging to him. Language in the deed such as “John Smith, a single man, as to an undivided % interest, and Mary Jones, a single woman, as to an undivided % interest, as tenants in common” establishes title in this manner.
Joint Tenants with rights of survivorship: Each titleholder has the right of survivorship. When one owner (joint tenant) dies, his interest automatically vests in the surviving joint tenant(s). Language in the deed such as “John Smith, a single man and Peter Jones, a single man, as joint tenants with right of survivorship” establishes this type of ownership.
Trusts, Partnership, Corporations, Limited Liability Company or other: Entity taking title is not an individual.
After you have read through this list, please let us know which of the above is the appropriate vesting for your purchase. If you not sure, please contact an attorney.
What are the type of Insurance Policies?
There are THREE types of title insurance policies: Owner's Policy, Loan Policy, and Leaseholder's Policy.
Here at A1A Beachside Title, we work with all of them.
Even though we can work with all of them, the two main ones we work with are the Owner’s Policy and the Loan Policy.
Owner’s Policy: Protection for the new owner of the property/purchaser. Protects the new owner from bad title that a previous owner could have that had not been brought to light at time of closing or could not be found. This includes a person/company who claims to have a lien against the property.
Loan Policy: Protection for the lender that issued the loan to the buyer so that they are covered in case of bad title.
Who are these adorable pets in some of the pictures?
At A1A Beachside Title, our team is dedicated to providing you with the best and most secure experience when it comes to title insurance. We proudly have our lovable pets as our mascots who help remind us to always do our best for our customers! If you come into the office, you may even get a glimpse of this cute puppy who always greets everyone with a variety of conversation..