What Is Title Insurance? - Real Estate Legal Blogs Posted by Roy D. Oppenheim - Lawyers.com

What Is Title Insurance?

FAQ’s With Roy Oppenheim

Full Transcript: One of the questions that people always ask is, what is title insurance? And the question they also ask is, do I really need title insurance? And they kind of go hand in hand because you can’t decide if you need something if you don’t know what it is. So let’s analyze a little bit what title insurance is. Title insurance is an insurance policy, a guarantee that is offered to you by a large insurance company, usually through a title agent to guarantee that when you close on a piece of real estate, when you buy a piece of real estate that you own it, that you have the rights to it, and if anything goes wrong with the title because somewhere along the way someone had committed fraud, there was a mistake, the legal description was wrong, there’s an encroachment, numerous other types of problem.

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Weston Title & Escrow | Attorney Owned And Operated Title Company
2500 Weston Rd #404
Fort Lauderdale, FL 33331
954-384-6168
https://westontitle.com/ 
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You have an insurance policy that you can then go to a third party, not to the person who sold you the property who is now long gone or long dead and they will ensure that you either get the property that you bought by fixing it legally or the alternative, writing you a check for the amount of the policy.

Many of the times these things get resolved legally with a lawsuit, but sometimes it’s a complete failure of the title.he title companies have to give you a check. Now, what’s interesting is banks are required, commercial banks are required to get title insurance when they lend you money and technically speaking, the U.S. government now says that you have the option of buying title insurance, but it’s not absolutely required. I think that’s crazy, I think it’s ludicrous, I think if the bank is getting title insurance you should be getting it too.

Why should the bank be insured and you should not be? And also what’s interesting is once you have purchased the bank policy, the cost of buying an owners policy is much, much less because you don’t have to buy two policies you just getting effectively an addendum, an amendment, and endorsement as a quality in the trade for a policy that also insures your interest.

Do I Need Title Insurance?

Under rare circumstances would I ever advise someone not to get title insurance. It’s important, it gives you peace of mind, it’s one of the largest investments you’re ever going to make in your life. And why would you not have insurance? You don’t drive a car without insurance, you generally don’t run around without medical insurance.

So when you buy a home, it makes no sense why you would not have title insurance. So what you need to do is obviously understand what title insurance is before you understand that, in fact, you do need title insurance when you buy a piece of property. Need Title Insurance? Contact Weston Title Today 954-384-6168

Who Title Companies Serve

Sellers & Buyers
Realtors
Investors
Foreclosures
Lenders & Mortgage Professionals
Refinancing
Developers & Builders

Escrow Services Of Title Companies
Title Insurance
Real Estate Closings
Short Sales & Foreclosures
Role & Purpose
Closing Costs

Watch Video: What Is Title Insurance? https://www.youtube.com/watch?v=b_3g2vh9nBw 
Original Source: https://westontitle.com/weston-title-news/what-is-title-insurance/ 

Weston Title & Escrow is a trusted South Florida title company, serving Broward, Miami-Dade and Palm Beach Counties as well as the entire State of Florida since 1994.

Owned and operated by attorneys Roy Oppenheim and Ellen Pilelsky, the founding partners of Oppenheim Law, Weston Title provides highly personalized services in the areas of real estate closings, title insurance, title searches and escrow services.

__________________________________________________________
Weston Title & Escrow | Attorney Owned And Operated Title Company
2500 Weston Rd #404
Fort Lauderdale, FL 33331
954-384-6168
https://westontitle.com/ 
__________________________________________________________

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Roy D. Oppenheim

Licensed since 1987

Member at firm Oppenheim Law

AWARDS

AV Preeminent
Champion Badge Gold

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Roy D. Oppenheim

Licensed since 1987

Member at firm Oppenheim Law

AWARDS

AV Preeminent
Champion Badge Gold

RECENT POSTS

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