Title Insurance Commitments, Policies & Endorsements
Title insurance protects both residential and commercial property owners, as well as lenders, against certain third-party claims that do not arise until after closing. This includes third-party claims by construction companies, contractors, lenders, tax authorities, and even heirs.
At Almazan Law, our Tampa title insurance attorneys assist clients throughout Hillsborough County and all of the surrounding areas, including all 67 of Florida’s counties, in a wide range of title insurance and real estate closing matters. We have several agents on staff who are authorized to review and issue insurance policies, commitments, and endorsements on all types of residential and commercial properties. Our team offers a high level of professional service and personalized support, along with 24-hour closing services, notary services, and a fully bilingual staff offering services in English and Spanish.
What Is Title Insurance?
Title insurance is a type of real estate insurance policy that covers potential third-party claims arising after closing that do not appear in the initial title search. Such claims could arise at essentially any time, even after an individual or entity has owned a property for years without any issues.
Prior to closings, mortgage lenders order title companies to search public records for existing title defects, such as:
- Liens: A claim against an asset, including real property, to be used as collateral for unpaid debts.
- Easements: A legal right to use another person or party’s property.
- Encumbrances: A claim that restricts the use of or affects the transferability of a property.
Title companies search public records—including existing deeds, tax records, mortgages, utility assessments, and various court judgments, such as divorce rulings and even child support arrangements—to identify any issues, known as “clouds.” If clouds are revealed, the title company and/or the agents for both the buyer and seller will work to resolve them. In some cases, significant issues may be unresolvable and could put off or cancel the sale.
Title insurance is meant to protect buyers, prevent loss, and eliminate risks associated with liens, easements, encumbrances, and other title problems.
Owner’s Policies vs. Loan Policies
There are two main types of residential title insurance policies:
- Owner’s Policies: Cover the purchase price of a home or real property
- Loan Policies: Cover the amount of the loan for a home or real property
Owner’s policies, which are available for a one-time premium paid at closing, offer protection against enumerated title risks for the duration of the insured’s ownership (or ownership by the insured’s heirs). Depending on the type of owner’s policy purchased, coverage may also be available for title issues that arise after the policy date. This may include coverage for various problems, such as encroaching structures, false claims, and more.
Loan policies, on the other hand, are typically required by mortgage lenders, as well as secondary mortgage loan purchasers. A loan policy can be used to protect against a wide range of title issues, including valid and enforceable liens.
Over $1 Billion in Covered Title Insurance Policy Issues
Almazan Law has handled more than $1 billion in covered title insurance policy issues on behalf of individuals, businesses, corporations, lenders, and other parties located throughout Florida. Our attorneys, agents, and staff are well-equipped to assist you in navigating a variety of title insurance issues and real estate closing matters; reach out to us today to learn more. We offer complimentary initial consultations, virtual and mobile services, and flexible payment structures to suit the individual needs of our clients.
Call (305) 665-6681 or contact us online today.
At Almazan Law, we assist clients throughout Central Florida and the entire state in all types of title insurance and real estate closing services. Our Tampa title insurance and closing attorneys provide personal attention, high accessibility, and client-focused service.
Our wide range of title insurance and real estate closing services include:
- Title insurance examinations
- Separation of title
- Estoppel requests
- Corrective property ownership issues
- Assessment of documentary stamps
- Preparation of closing documents
- Reviewing contracts and closing instructions
- Depositing loan funds
- Coordinating property inspections
- Resolving outstanding prior mortgages
- Preparing HUD-1 settlement statements
Please note that this is not an exhaustive list; most real estate transactions require more than 100 steps, all of which can be both complex and time-consuming. Our team has extensive experience in this area and is prepared to provide the meticulous, thorough, and dedicated guidance you need.
- Over $1 Billion in title insurance policies issued
- Nationally Certified, Minority-Owned Law Firm
- Decades of Experience
- Helping Clients In Miami and Beyond
- Available In Person & Virtually
“Almazan Law - Always a pleasure, we've been at this for years now! You're always at the top of our list!”Nicole Rodriguez
“I am extremely impressed with the work Alex and his team have done.”Jenny Gyde
“May I say it is a pleasure dealing with you and your company so far. You are so much better than many of the large corporate entities I have to deal with. Keep it up and have a good day.”Mark Lentz