MSC Title

Unlike other types of insurance which protect against future events, like car, health or travel, title insurance covers you for things that occurred in the past of the property. This could include things like another person claiming an ownership interest, improperly recorded documents or fraud and forgery.

Homeownership. It's is the single largest financial decision you'll likely ever make. Your ownership rights can be challenged and even lost. Whether it's fraud, forgery, or even just an honest mistake, there are multiple ways the dreams of homeownership can become a nightmare. An integral part of the home-buying process is assessing and protecting against risk - both of which are addressed by securing title insurance. Without the protection of title insurance, your record of ownership - the title to your property - can fall victim to a variety of risks, or title defects, that can cost thousands of dollars in legal fees to resolve and possibly threaten your ownership rights.

There are two types of title insurance policies - an owner's policy and a lender's policy. An owner's policy of title insurance protects the rights of the homeowner, generally for as long as the homeowner or the homeowner's heirs have an interest in the property. A lender's policy ( often called a loan policy) is required by lending institutions as a way to insure their right to foreclose on a property if the owner fails to repay the mortgage loan. This policy protects the bank or other lending institution for as long as they maintain an interest in the property (typically until your mortgage is paid off).

Both title insurance policies not only pay valid claims and legal fees to defend against covered title issues, but also help to decrease ownership risks. That's because a title insurer will conduct a title search prior to issuing either policy, often correcting errors in the public record before the property is transferred.

The process of insuring a transaction begins with a title search to discover and address potential title issues. However, some title defects simply cannot be discovered with 100% certainty. An example of this would be fraud, forgery, an incompetent seller, missing heirs who have an interest in the property and human error, to name just a few. The job of title insurance is to provide coverage for losses due to the risk of uncertainty inherent in any chain of title. An owner's policy of title insurance is your best protection against potential defects that can impact or interfere with your rights as the property owner.

No, quite the opposite. The insurance coverage pays any "valid" claims up to the amount of your Owner's Policy and provides for your legal defense in a court of law.

Title insurance is a highly regulated industry and Florida rates are promulgated by the state and are based on the sales price of the property.

MSC Title would love to assist you. Please use our Seller Closing Cost Calculator for an estimate or reach out to us by calling 941.552.5211 or filling out the form at the bottom of this page.