What is title insurance and how come I’m required to have it for a Weston Title Company?
World Title Company uses only the most reputable and trusted underwriters that provide title insurance services for realtors, brokers, lenders, developers, builders, sellers, and real estate buyers. Our title insurance and escrow services provide the ultimate protection all throughout the purchase and transfer of real property and make sure that it is handled properly. We Safeguard your title insurance thru the application of the principle of insurance to risks that are commonplace in many real estate transactions. We offer the most dependable title insurance service in all of South Florida while still offering competitive rates.
What kind of title insurance policies do you offer to homeowners?
For the typical homeowner there are two main flavors of title insurance that you should be mindful of:
- Mortgagee’s Title Insurance Policy
- Owner’s Title Insurance Policy
Other closings, escrow, and title services that we offer also include:
- Title Examination
- Title Insurance
- Secure Escrow Account
- Settlement, Abstract, and Endorsements
- Affordable Closing Cost
What if the lending institution already has title insurance, why would I also be required to purchase my own title insurance policy? Shouldn’t both parties the purchaser and the lender be covered under the same policy?
The MTP (mortgage title policy) will ensure that the lender and the lien that they hold is a valid lien against the property in question.
An OTP (owner’s title policy) will ensure the new purchaser that he or she owns the property subject to listed exceptions.
The mortgagee’s policy defends and safeguards the lender’s interest just so as long as the loan is outstanding and only for the amount of the balance of the said loan at any given moment in time. The actual owner’s policy will protect you up to the face amount of said policy all during your ownership and even after you have sold the real estate in question. In some real estate transactions, the property can be warranted to a subsequent buyer, in this case, each one of the title insurance policies executes different functions. With that being said, it is impossible for one title insurance policy to cover both the lender and purchaser.
How can having title insurance protect you against title defects and hidden risks?
When done properly and effectively title insurance will safeguard you from lawsuits that attack your title. Generally, the title insurance will rectify the title problem and pay the insured’s losses all the way up to the face amount of the title insurance policy. The title insurance policy will also provide protection after you have sold the property from title defects that occurred before your ownership that might have or could cause the purchaser a loss if the title was warranted by you.
How long will my home or property be covered by these types of title insurance policies?
The OTP or owner’s title policy will ensure you and your family heirs as long as they remain in ownership or have liabilities by virtue of warranties to the title insurance policy given by you to a purchaser. The MPT or mortgagee title policy protects the lender until the loan is fully paid off.
World Title Company takes great pride in delivering the best possible title insurance service for your home or property. Please visit and let us show you how World Title Company should be your go-to choice for Real Estate Closings, Escrow, and Title insurance in South Florida. Compare our rates against the leading title insurance providers in our area.
Stop by and see how the premier Weston Title Company can help you get title insurance fast and affordable.