Frequently Asked Questions
It is customary that, in Lee County, the seller pays for and selects the title company. The reverse is true for Collier County.
Every property has a history. A thorough title search can uncover some of the title defects tied to a property. However, title insurance provides protection for the homeowner from any title problems that may become known after a closing. Just a few issues can be: undiscovered wills, errors in public records and illegal deeds. For a more complete list of title defects, contact us and we can provide you with this list.
Title insurance is insurance to protect real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or the defects in the title to the property. Each title insurance policy is subject to specific terms, conditions and exclusions. Insurance such as car, life, health etc. protect against potential future events and is paid for with monthly or annual premiums. Title insurance insures against events that occurred in the past of the real estate property and the people who owned it. For a one time premium that is paid at the time of closing, title insurance will protect against claims from defects. Defects are things such as another person claiming ownership, improperly recorded documents, fraud, forgery, liens, encroachments, easements, and other items that are specified in the actual policy.
Yes. While we strongly encourage you to consider utilizing the services of a licensed Real Estate Agent when buying or selling your home, we understand that not everyone does so. We can and will help you. It is also highly recommended that you use the services of a closing company to handle the coordination of the sale, serve as the escrow agent for the executed documents and funds, and then disburse the funds according to what is stated in the contract.
When using a real estate agent (Realtor) request that Heights Title Services serve as the title agent and/or closing agent on the transaction before any contracts are signed. If you are an individual or selling by owner, send us your real estate contract. You can send us your contract by hand delivery, mail, e-mail or by fax.
While not legally mandated, most lenders in Florida require title insurance to protect their interests. Even when not required, obtaining title insurance is highly recommended to safeguard your ownership rights.
In Florida, the party responsible for paying title insurance varies by county. In many counties, it’s customary for the seller to pay for the owner’s title insurance policy, while in others, the buyer may be responsible. This is often negotiable between the parties involved.
Typically, both the buyer and the lender obtain title insurance policies. The buyer purchases an owner’s policy to protect their ownership rights, while the lender requires a separate policy to safeguard their financial interest in the property.
The three most common types of title insurance are:
- Owner’s Title Insurance: Protects the buyer’s ownership rights against potential title defects.
- Lender’s Title Insurance: Protects the lender’s financial interest in the property.
- Leasehold Title Insurance: Protects leaseholders’ interests, typically in commercial real estate transactions.
No, title insurance policies are not transferable. Each new owner must purchase their own policy to ensure protection against any title defects.
An owner’s title insurance policy remains in effect as long as you or your heirs hold an interest in the property. It’s a one-time premium that provides coverage indefinitely.
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We take care of our customers. Heights Title was founded with one goal in mind: to create a company centered around trust, responsiveness, integrity and honesty.