You should never buy a home in Florida without obtaining title insurance. When you get ready to buy or sell a home, make sure to give us a call before you sign the contract!
Shupe Dhawan wants you to be protected when you purchase your home. With full closing and title agent insurance services for commercial and residential properties, we can handle your closing from start to finish and also issue title insurance to protect you against past rights and potential claims made by others against your property.
The Real Estate Settlement Procedures Act (RESPA) which currently governs the sale and transfer of residential property entitles a home buyer to choose a title insurance company when purchasing or refinancing residential property. When you sign the real estate contract to purchase or sell a property you select your closing title agent at that time, so it’s important to contact us early in the process, or you could be forced to use someone you don’t know and trust or that may not adequately protect you in the purchase and sale.
What is title?
Title is legal method that proves who owns property. When you purchase a home, you are really purchasing the title which then gives you the ownership interest in the land and home.
Why do you need a title search?
Property changes ownership all the time creating what is known as a “chain of title.” Often, title to a property is not transferred properly, thereby creating a “cloud” on the property, which makes a claim of ownership in doubt. The title agent reviews the chain of title to make sure all parties that have transferred the property had the right to do so and to make sure that even when they did have the right to do so that they transferred the interest properly. Often, property is transferred without all the required owners or long-lost relatives may show up and make a claim to a property. Also, sometimes people fraudulently sell homes that no longer belong to them or never belonged to them in the first place. Without a proper title search, none of this can be prevented or corrected.
What is title insurance?
Title insurance is a bit different from traditional insurance you are used to buying. For instance, when you get automobile or homeowner’s insurance you are insuring against a future loss. When you buy title insurance you are insuring against financial loss from defects in title to the property that occurred prior to your ownership.
Why do you need title insurance?
Unfortunately, Florida is one of the predominant states where title insurance is an absolute must to protect your interest in your home due to the foreclosure crisis and continued problems with title to property being passed improperly by people not seeking the assistance of attorneys and attempting to do the job themselves. Title insurance protects you against loss when a claim is made against your property in accordance with the terms of the policy. You will be provided a legal defense and all court costs and fees and reimbursed for your actual loss up to the value of the policy if a claim proves to be valid.
What makes us different?
Not all title companies are run by attorneys! You can be assured that we not only review title to make sure you are safe purchasing property, but we also review the contracts and make sure all the paperwork for your closing is proper and complete.
Your home will be perhaps your biggest purchase ever. Make sure you have Shupe Dhawan handle your closing to make sure your title is clear and your closing goes well.