When you buy or refinance a home in Florida an owner’s title insurance policy is needed. Owner’s title insurance protects homeowners in the event that someone sues or challenges the deed to your home. It protects the new property owner from liens and/or debts placed against a property due to a previous owner’s actions or lack thereof. The owner’s policy is different from the lender’s in that it protects the purchase owner’s financial investment.
In Pinellas County, the seller is responsible for the cost and purchase of both the lender and the owner’s title insurance. This one time premium for your title policy protects you and your lender, and remains in effect for as long as you own the property. It not only protects you from financial and property loss, but it also requires the title company to defend and cover your legal fees in the event that ownership is ever challenged.
Our experienced title agents at Coastline Title of Pinellas are available to answer all of your questions. Whether you’re purchasing a new construction home with no previous owners, commercial property, residential, or have questions about optional property coverage – our experts are here to help! Just tap the “Get a Quote” button or call us today and speak to an agent.