Welcome to Attorneys' Title Services

12428 San Jose Blvd #1
Jacksonville, FL 32223

(904) 260-0105

Mon - Fri 9:00AM - 5:00PM
Closed Saturday & Sunday

Frequently Asked Questions

A title is a legal word that pertains to a person’s rights to transfer, use, control, posses, and own a real estate. Another definition of the word is the manner in which a person holds the ownership of the property (eg sole owner or with another person). The title may be used a single person or entity.

The title insurance is a protection given to the owner from unforeseen claims. The insurance will shoulder the expenses for court costs, legal defense, and other fees related to the cause. Moreover, the insurance will also reimburse the property owner for loss up to the policy’s face value.

This question is often asked by a lot of homeowners. If there’s one thing that you’ll probably spending most of your money on, it’s your home and that’s the very reason why you need to get a title insurance. You need to protect your investment.

A comprehensive title search is performed the moment you place your signature on the sales contract to purchase your residential or commercial property. This title search involves the examination of land records connected to your property for the past thirty years. While this examination is thorough and detailed, there are also a lot of hidden issues that may not be revealed by the process. An example would be missing heirs, forged signatures on original documents, ex-spouses and improper deeds are difficult and tricky to spot during the title search. The title insurance gives you protection from these hidden risks.

Of all the issues, unreleased liens on the property are the most common. You will still be responsible for a lien even if it has nothing to do with you because once a lien is filed on the property that you own, it becomes attached to you and it is important that you clear it immediately. About one-third of all of the properties have a title defect or issue. A title insurance policy gives 100% protection from these defects. It also gives peace of mind to the owner.

Understanding the difference between title insurance policies are crucial. Lenders require the purchase of a lender’s policy to give protection to the money that they invested in your property. This policy is often dependent on the amount of the loan and its longevity depends on the life of the loan. The lender’s policy also gives protection to the lender if ever any problem concerning the title occurs in the future.

If lenders have lender’s policies, owners are required to purchase owner’s policies too. The lender’s policy will only cover the lender’s interest in your property- this means, it won’t be able to protect you, the homeowner. If a problem concerning the title arises in the future and you have not purchased an owner’s title insurance policy, you will be at risk spending a huge amount on legal expenses to defend yourself from claims on your property. You can be spared from this if you have an owner’s policy.

You can purchase an owner’s policy during the closing of the transaction. You only need to pay for the owner’s policy once, and the fee depends on the sales price. While the effectivity of the lender’s policy is only equivalent to the life of the loan, the owner’s policy will protect the homeowner and their heirs of the property for as long as they maintain their ownership.

When it comes to refinancing your home, you will be asked by your lender to get a new lender’s policy since you are getting a new loan. The lender want to make sure that he or she is protected should there be problems in the future. This does not mean, however, that you need to buy a new owner’s policy because the original policy will be in effect for as long as you maintain your ownership of the property. Obtaining a new lender’s policy entitles you to a discount or reissue rate if you already have an owner’s policy. Attorneys’ Title Services, LLC applies this reissue rate discount whenever available to purchases and refinances.

It is it the responsibility of the title company to bring together the interests of all parties involved in the real estate transaction. This includes all of the sellers, buyers, real estate agents, and mortgage lenders. It is our job to ensure that all of the requirements are satisfied. Upon the ratification of the Sales Contract, the title company checks the completeness and accuracy before beginning with the title process:

  • Title search: We evaluate the property’s title through a title search, which gives us the history of the property and allows us to trace the ownership. We closely examine the title and clear any claims or liens on the property so the new buyer will be spared from any problem that may arise in the future. This also means that the buyer receives a property that has a marketable and clear title.
  • Survey: This, or a house location drawing of the property is usually required by lenders. Once we receive authorization from the buyer, our company will order a survey and check if there are potential problems. If issues will be seen on the survey, we will let the real estate agent, buyer, and lender know immediately. The survey will be turned over to the the buyer a the settlement.
  • Property taxes: We confirm with the state or local taxing authority if the property taxes have already been settled. We also verify with the Homeowners/Condo Owners Association and with the local utility companies if the payments are updated. On the Closing Disclosure or the HUD-1 Settlement statement, we will write down the rates based on the settlement date and the billing period.
  • Title insurance policy: We issue the lender’s coverage and the owner’s title insurance policy. The Title Insurance has two types: Owner’s, which may be purchased by the owner of the property at the settlement to protect the new owner, and Lender’s which is a requirement from the mortgage company to serve as protection for the lender’s investment in the property. It is important that all of the buyers acquire an owner’s title policy to protect them from future problems such as hidden risks, fraud against the property and unforeseen claims. The title insurance policy serves as protection from financial loss and payment should there be any legal costs needed.
  • Load documents for closing: We keep constant communication with the mortgage lender to ensure the receipt of the loan documents for closing. Once we receive the documents in our office, we evaluate all of the forms and abide by the lender requirements for closing. Having all of these documents allows us to complete the Closing Disclosure or HUD-1 Settlement Statement. This is an important document and it’s crucial that it’s signed because it contains all of the costs connected with the sale and purchase of the property. Our company also prepares the deed and all required documents to comply with federal and state laws.
  • Closing: During closing, all of the documents are thoroughly explained to all of the properties before asking them to sign. The settlement usually lasts from thirty minutes to one hour. After the closing, we hand out all of the monies collected during the settlement and pay the tax collector and surveyor. We also release and pay off all the existing mortgages on the property and work on the loan documents that will then be turned over to the lender.
  • Documents recorded in courthouse: We are in charge of making sure that all of the documents including the new deed and mortgage are recorded properly in the courthouse. We also make sure that all of the current liens on the property are released.

A title search is a thorough examination of all records and documents concerning a property. This search involves going through records for the past thirty years. The documents involved in a title search includes court records, mortgages, deeds, name indexes, taxes, and other documents. An experienced title officer of lawyer will go through these records to verify if the property title is insurable for the buyer who will eventually be the new owner. We meticulously inspect the records to verify the owner’s right to transfer and to make sure that there are no defects or liens on the title.

Problems such as liens, defects, unsatisfied mortgages, unpaid taxes, restrictions limiting the land usage, and judgments against the seller are often revealed during a title search. About one-third of title searches performed reveal a title defect that must be given immediate attention. Unreleased lien is one of the most common land issues and should be cleared as soon as possible. The most problematic types of issues involve outstanding interests and forgery.

All payments should be made and turned over to the title company before closing. The payment must be “good funds”, meaning, it should be in the form of a wire transfer or Cashier’s check. A personal check will only be accepted if the amount is below $500. Ask for our company’s escrow account before payment. If you wish to move your money from investment accounts and bring to settlement, confirm it first with your investment company one week before the closing date since it usually takes several days for the investment funds to be available.

As stated in your policy, the title insurance will settle all of the legal fees needed to defend and protect yourself from fraudulent claims. It will also be used to settle valid claims, up to the face value of your insurance policy.

Not at all. The purpose of the lender’s policy is to protect the lender’s investment in your property. This policy is also based on how much your loan costs and its period of effectivity is highly dependent on the life of the loan. Should a problem occur, the lender’s policy will only protect the lender. For this reason, the owner should also purchase an owner’s policy.

Disclaimer: The purpose of this information is to educate people and should not be used as legal advice. Do not act upon or rely on the information written in the “Frequently Asked Questions” without asking for help from a certified legal counsel.

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