Do I Need Title Insurance When Buying a Home in Florida?

If you're buying a home in Jacksonville, Florida – congratulations! One important thing you need to think about is whether you need title insurance. It can help protect your ownership rights and ensure that your new home is legally yours without any hidden problems. But how?

The team at Atlantic Coast Title & Escrow is here to help Florida homebuyers understand why title insurance is a must-have for a smooth purchase and secure ownership. 

Why You Need Title Insurance:

Title insurance protects you from problems that could arise with the property’s ownership history. Issues like unpaid debts, claims from unknown heirs, or mistakes in public records can create legal troubles. Without title insurance, you could face expensive legal problems or even lose your home. Choosing not to purchase title insurance can have serious consequences:

Unpaid Liens: If the previous owner had unpaid debts, such as taxes or contractor bills, you may be responsible for covering those costs. For example, if a contractor wasn’t paid for work done on the home, you could be held liable for paying the outstanding amount.

Ownership Disputes: In some cases, long-lost heirs or family members may come forward claiming they have a right to the property. Without title insurance, you could end up in a lengthy and costly legal battle to resolve these disputes. For example, a relative of a previous owner could contest the sale, claiming they were entitled to inherit the home.

Public Record Errors: Mistakes in the public records, such as incorrect legal descriptions or clerical errors in previous deeds, can create ownership challenges. Without title insurance, you would bear the financial burden of correcting these mistakes.

Loss of Home: In the worst-case scenario, you could lose your home entirely. For instance, if a previous owner sold the property without clearing their ownership issues, a court could rule that the sale was invalid, forcing you to vacate the home.

How Title Insurance Works

Title insurance works by protecting you from any past issues related to a property’s ownership. It starts with a detailed title search, where a Jacksonville title attorney examines public records to uncover any potential problems, like unpaid liens or ownership disputes. If any issues are found, they must be resolved before you can close on the home. Once the title is clear, the insurance company issues a policy that protects you and sometimes your lender from future claims. Title insurance requires a one-time premium paid at closing and covers you for as long as you own the home, providing financial and legal protection against any unforeseen title issues that may arise.

Choosing Atlantic Coast Title and Escrow

At Atlantic Coast Title and Escrow, we make sure your home-buying experience is easy and worry-free. Our Jacksonville title attorneys handle everything from title searches to issuing insurance, ensuring you’re fully protected throughout the process.

Get the Guidance of Experienced Jacksonville, FL Title Attorneys Today

Want to protect your home purchase? Contact Atlantic Coast Title and Escrow to get started with our skilled Jacksonville title lawyers. We’ll help make sure your real estate dreams become a reality.

We are here to answer your questions and make sure you are getting exactly what you are paying for in all of your real estate purchases. Reach out to our team today by calling (904) 853-5591 or filling out our online form.