Quick reference guide to common terms with Titles.

What is a Title?

A title is the evidence, of right, that a person has to the ownership and possession of land. It is possible that someone other than the owner has a legal right to the property. If that right can be established, this person can claim the property outright or make demands on the owner as to its use.

What can make a Title defective?

Any number of problems that remain undisclosed after even the most meticulous search of public records can make a title defective. These hidden “defects” are dangerous indeed because you may not learn of them for many months or years. Yet they could force you to spend substantial sums on a legal defense, and still result in the loss of your property.

When should I look into purchasing Title Insurance?

Call Equity Title, LLC as soon as both parties have signed the earnest money contract. Usually it is the person’s choice that is paying for the title insurance to pick the title company or closing attorney. That person does have a choice of where to have the closing, although you may suggest your choice also. With a brief summary of the details, our team of title experts will begin a search of the public records and issue a title commitment. Because there are a number of steps we must take to make certain that we know all we can about the title, it is wise to get the process started as soon as possible.

Should I shop around for the best Title Insurance deal?

The State of Florida closely regulates the rates. The actual cost of the title insurance is the same, no matter where you go in the State of Florida. The only difference between companies is what their closing fees will be. Depending where you live, it pays to investigate your options carefully in order to obtain the most complete coverage for your dollar. You may be entitled to a reduced rate. Ask if you qualify for a reissue credit.

How much does Title Insurance cost?

The one-time premium is directly related to the value of your home. Typically, it is less expensive than your annual auto insurance. It is a one-time only expense, paid when you purchase your home. Yet it continues to provide complete coverage for as long as you or your heirs own the property.

Can Equity Title, LLC handle the closing?

Yes, Equity Title, LLC acts as a central clearinghouse for the parties involved — collecting necessary documents, insuring adherence to the lender’s closing instructions, making arrangements for proper payment and distribution of funds. We are fully prepared to work with you from the beginning of your transaction all the way through to conclusion. We do closings anywhere in the Central and Southern Florida areas.

What items are needed for closing?

You will want to have access to the items below, prior to the actual closing day.


  • Buyer’s copy of purchase agreement
  • Good Faith Estimate for any mortgage (s)
  • Cashier’s check(s) for deposit. The check or wire for final closing costs will be due at closing
  • Evidence of insurance for fire, casualty, etc.
  • Invoices for any unpaid taxes, utilities or assessments
  • Photo identification (passport, driver’s license, or state-issued identification card)


  • Seller’s copy of purchase agreement
  • Invoices for any unpaid taxes, utilities, assessments, and latest utilities meter readings
  • Receipts for last payment of interest on mortgages
  • Bill of Sale of personal property covered by the purchase agreement
  • Prior Owner’s Policy for reissue credit on insurance
  • Survey – Prior as long as no structural changes or improvements have been made since them
  • Photo identification (passport, driver’s license, or state-issued identification card)
  • For Refinance transactions, you may be asked for other items or verify information as required.

Real Estate Terms

If there are terms that you are unfamiliar with, check out a dictionary of terms provided by our underwriter, Old Republic National Title Insurance Company.