Pensacola Title Insurance Attorneys
When buying a piece of real estate, how do you know what you are buying or whether you are buying it from the person who actually owns it? Same goes for those loaning money on a real estate deal and taking a mortgage as collateral. You can obtain a title search, but the liability of the typical title search is limited by statute. As a result, the title insurance industry was developed. Title companies do a great job of insuring the interests of buyers and lenders. Institutional lenders will always require a title insurance policy to reduce their risks. The question often arises as to whether the lender’s title policy covers the owner. The simple answer is that it doesn’t, because the coverages are different. For a lender to have a claim under a title policy, it would first have to have a loss. Losses don’t occur unless the borrower defaults. Owner’s policies, on the other hand, insure that title to the property is marketable.
Title policies are subject to limitations and exclusions. Also, there are additional coverages that you may need. But, since title insurance is heavily regulated in Florida, you have to know what they are, when they apply and whether they are appropriate in a given situation. This is what we do. You can work with a title insurance attorney from McDonald Fleming Moorhead who understands these policies and can advise you on what is covered and what isn’t.
We also handle title insurance claims. We have prosecuted title insurance claims and defended such claims, representing some of the world’s largest title companies in the process. We understand the policies and can assist in obtaining a fair settlement. If litigation is required, whether to prosecute a title claim or defend one, our team of experienced litigators can handle that as well.
Work with Clear Title – the best of both worlds!
The McDonald Fleming Moorhead firm’s sister company is Clear Title of Northwest Florida, LLC,. Clear Title is a Florida licensed title insurance agency with three locations in the greater Pensacola area. Clear Title generally handles only residential closings. This gives clients and customers the best of both worlds: the convenience, speed and efficiency of a title insurance agency and the expertise of a law firm’s real estate department including a Board Certified Real Estate Attorney. Title insurance protects your property and investment so it is essential to work with a title insurance company you trust.
Whether the McDonald Fleming Moorhead firm or Clear Title is handling your transaction, we operate as title issuing agents of some of the largest title insurance underwriters in the world! Our team understands the importance of communicating effectively with all of the parties and having closing documents done accurately and in a timely manner. We have years of experience with closings, and we strive to make sure your real estate transaction goes smoothly.