A home is often the single largest investment that a homebuyer will make in their lives. Public Title Services, LLC wants to ensure that whether you are a buyer or a seller, or refinancing your mortgage, you have peace of mind when it comes to your property rights. Title insurance is the best way to protect yourself from legal and financial claims from the past.
To help you help you understand how it works, here are answers to common questions:
WHAT IS TITLE?
A title is your ownership right to your property.
WHAT IS A TITLE SEARCH?
A title search is a search of public record that is completed over the past 30 year that is conducted to uncover issues that could prevent your ownership rights to the property. Public Title Services, LLC along with their 2 National Underwriters ensures that the public records are thoroughly reviewed to see if there are any problems or defects that could cause you legal issues.
WHAT IS TITLE INSURANCE?
If you’re buying a home, title insurance is a policy that protects your property rights.
There are two different types of title insurance: owner’s policy and lender’s policy.
1) An owner’s policy protects your property rights for as long as you or your heirs own the home.
2) A lender’s policy is usually required by the lender and protects only the lender’s ﬁnancial interests including first lien position.
WHY SHOULD I PURCHASE OWNER’S TITLE INSURANCE?
Purchasing owner’s title insurance is a one of the smartest decisions because it’s the best way to protect your property from future legal claims from issues that occurred in the past.
HOW LONG AM I COVERED?
Your owner’s title insurance policy lasts as long as you or your heirs own your property. Your life will change over time, but your peace of mind never will.
WHAT IS A MUNICIPAL LIEN SEARCH?
A Municipal Lien Search is also a standard part of any real estate transaction. It is a search to find potential unrecorded liens, in addition to code violations, special assessments, utility, and open or expired permit issues that are associated with residential or commercial real estate.
WHAT IS A HOA Estoppel?
A Homeowners Association Estoppel is a standard part of any real estate transaction where a Homeowner’s Association or Condominium Association exists. This legal document is provided by the Seller’s Homeowner’s or Condominium Owner’s Association, outlining the current owner’s financial standing, past due balances, current fees due, and list all future special assessments due. Each letter has a “good through” date.
WHAT HAPPENS AT SETTLEMENT?
You sign all the legal documents and receive the keys to your home. You will receive the keys once all funds have been exchanged.
All documents you signed at closing will be available to you via our e-document storage. You must follow the link we send you prior to closing to set up an account. Once the account is established, you will be able to view all the documents you signed.
Your title insurance policy will be sent to you in the mail (typically within 4-6 weeks after closing). Make sure you save your documents and the username and password in a safe and secure location.
Our experienced staff has handled thousands of closings throughout the state of Florida. If you are buying, selling or refinancing a residential home, investment property, commercial building or vacant land our staff will ensure the closing process is handled properly and in a professional manner.