Title insurance can be purchased by a new homeowner who is looking to protect themselves in the event an issue arises with the title of their property. The title is a document that is tied to a home and outlines the legal rights an owner has over their home. in order for a homeowner to purchase title insurance, they must find a company that offers it in their area. Before a company issues a title insurance policy, it will run a check on the title to see if the title is clear or if there are any potential issues lurking, according to Bankrate.
After a title company performs a check on the title and reviews the findings, it will let the homeowner know if the title is clear, if there are any issues, and whether a policy can be issued. If a company decides to issue a title insurance policy as there are times when they may not, it will “protect the homebuyer from having to fix defects with a property’s title,” according to Bankrate.
Here’s an example of when it can benefit a homeowner to have title insurance in Florida.
Imagine a homeowner purchased a home and after living in the property for a few years, they are approached by an individual who claims they are part-owner of it. Apparently, the home was passed down to them by a relative who passed away. If a homeowner purchased a title insurance policy, then the company they are insured by will step in to help address the issue. A title company would also intervene if a homeowner learned that the title of their property had a lien placed on it.
Although title insurance is a great way for a homeowner to protect themselves from any issues that might arise in the future regarding the title of their property, homeowners can also safeguard themselves from running into any issues before they even purchase a home. And it starts with hiring an Orlando, FL real estate lawyer.
How an Orlando, FL Real Estate Attorney Can Help with the Home-Buying Process
If a homeowner wants to ensure the property they are purchasing has a clear title, they can contact a real estate lawyer who can run a title search before they commit to buying a home. It is always a good idea for a new homebuyer to retain a real estate attorney before purchasing a home as an attorney is going to ensure the investment is in the best interest of the purchaser.
If an individual is looking to buy a home in Orlando or has already found one they are ready to put an offer on, they can contact Legal Counsel P.A. for legal advice and guidance. Legal Counsel P.A. is a real estate law firm located in Orlando that can help a homebuyer understand the risks associated with purchasing the property along with the contracts they will need to sign to finalize the deal.
Legal Counsel P.A. is located at:
189 S. Orange Avenue, Ste. 1800
Orlando, FL 32801
Email: [email protected]