Title insurance issued by Old Republic Title provides a broad range of benefits to the parties involved in a real estate transaction
The purchaser of real estate needs protection against serious financial loss due to a defect in the title to the property purchased. For a single, one-time premium, which is a modest amount in relationship to the value of the property, a buyer can receive the protection of a title insurance policy – a policy that is backed by the reserves and solvency of the Company. A title insurance policy will cover both claims arising out of title problems that could have been discovered in the public records, and those so-called “non-record” defects that could not be discovered in the record, even with the most complete search.
A title insurance policy will not only protect the insured owner, but also that person’s heirs for as long as they hold title to the property, and even after they sell by warranty deed. The Company will not only satisfy any valid claim made against the insured’s title, but it will pay for the costs and legal expenses of defending against a title claim.
The overwhelming majority of mortgage loans made in the United States are made by persons who are acting in a fiduciary capacity – by savings and loan associations, savings banks, and commercial banks on behalf of their depositors, and by life insurance companies on behalf of their policyholders. Because they are lending other people’s money (other people’s savings or policyholder’s funds) these lenders must be concerned with the safety of their mortgage investments.
A policy of title insurance provides a mortgage lender with a high degree of safety against the loss of security as a result of a title problem. This protection remains in effect for as long as the mortgage remains unsatisfied.
Old Republic Title also provides lenders with in-depth expertise on a wide variety of title related matters to facilitate the mortgage loan process.
An owner of real property whose interest is insured by an owner’s title insurance policy has the assurance that the title will be marketable when selling the property. The title insurance policy protects the seller from financial damage if the seller’s title is rejected by a prospective purchaser. Also, when the seller conveys with “warranties,” the seller is still protected if the buyer sues because of a breach of those warranties.
Sue, Cindy and Staff at Equity Title, LLC have been handling the transactions for the investor community in Central Florida for well over the past 10-12 years. Equity Title, LLC has also been an active member in the local REIA clubs for the area for several years actively working with all types of investor transactions.
The staff at Equity Title, LLC are all very experienced with wholesalers, buy and hold investors along with the fix and flip transactions. Many of these investors will be using private lenders, Self-Directed IRA funds and even 1031 Exchange proceeds to fund the transactions which are handled with ease and expertise. Besides working closely with the IRA custodian companies for funding, our company also works with several of the land trust companies in the area as well to coordinate the closing paperwork and process as quickly as possible. When selling that newly renovated property, our closers will put your new home buyers at ease to ensure the whole
closing process goes smoothly. We have handled closings that take place locally, nationwide and even on different continents if necessary with the utmost professionalism.
Title insurance enables the real estate attorney to provide the client with substantially greater protection than would be afforded by the attorney’s opinion alone. The attorney’s opinion is generally limited to recorded matters and the client can only recover from the attorney if the attorney is found to be negligent.
The title insurance company and the real estate agent both seek to ensure that as many purchases as possible are closed to the satisfaction of all the principals in the transaction. From the broker’s standpoint, the efficient and safe transfer of title will result in client satisfaction, increased prestige, and continued business.
Apart from the security that title insurance offers, most brokers have experienced numerous instances in which title insurance personnel have enabled them to close transactions that otherwise would have been delayed. By helping to avoid delays, Old Republic Title is able to facilitate the job of the real estate broker and to minimize the inconveniences and costs to the homebuyer.
By providing various title insurance services and information to the home builder, the title insurance industry can and does assist the builder in identifying and evaluating building and use restrictions, easements, etc., in removing title problems that may arise, and in facilitating prompt and needed disbursement of construction funds from the construction lender. All of these services ultimately rebound to the benefit of the buyers of newly constructed homes.
Apart from the unique benefits title insurance offers to particular parties interested in a real estate transaction, title insurance companies can and do offer considerable assistance to public officials through the use of their “title plants” – the data banks of reorganized and indexed public records that are maintained by the Company in many areas of the country.
Much of the information contained in title plants is not readily available from other sources. This fund of information about the date of recent sales, representative sale prices, ownerships, area maps, use restrictions, surrounding properties, and a host of other matters pertinent to proposed projects, has helped representatives from all levels of government save countless hours and taxpayer dollars. In addition, title plant people frequently help recording officers correct errors they discover in public indices and records.
Equity Title, LLC is underwritten by
Old Republic Title Insurance Group
801 South Florida Avenue, Suite 8
Lakeland, FL 33801-5242
Office Hours: 9:00 am – 5:00 pm
(Monday-Friday)
Phone: (863) 802-9300
Fax: (863) 802-9307
Service Area:
Serving Lakeland, Winter Haven, Bartow, Auburndale, Haines City, Lake Wales, Davenport, Plant City, Orlando, Tampa, and all of Florida
(863) 802-9300