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Title Insurance – What It Is and Why Homeowners Need It?
Title Insurance

What is Title Insurance?

Title insurance is paid for by a one-time payment at closing that protects both buyers and sellers in Florida. Buyers and their heirs are protected from financial losses should there be a defect in the title for as long as they own the home and beyond. Sellers are also protected because they warrant a clear and marketable title to the buyer and if there is a problem in that regard down the road, the buyer’s policy also protects the seller.

Homeowners have many fees thrown at them and often wonder if a title insurance policy is worth the extra money. The answer is, the odds are you won’t need one, but if you do need to correct a title defect, it is most definitely worth the premium. In Palm Beach and many other Florida counties, the custom is for the seller to pay for the title insurance.

Title insurance policies work like all other insurance; you only call on them when there is a problem. Low-moderate income homebuyers are the most hesitant to spend extra money on a title policy that is not required; however these are the homebuyers who need the policy the most since a title defect could potentially bankrupt them.

Title insurance policies cover title defects and losses incurred by reason of a lien or other covered encumbrance affecting the property; possibly including forced removal of fences or walls, and incorrect property descriptions. It is simply foolish not to protect what is often a family’s most significant financial transaction in their lives by not insuring the title to their investment.

Lenders require home buyers to purchase a separate title insurance policy that protects the lender, as distinct from the owner’s policy that protects only the owner. If a property is being financed, the additional cost of a lender’s policy is minimal when it is issued at the same time as an owner’s policy.  If there were no owner’s policy, the cost of the lender’s policy would be dramatically higher, were stuck having to figure it out for themselves. It’s an example of what can go wrong even if you play by the rules and the importance of being insured.”

Richard S. Weinstein

Richard S. Weinstein is an experienced real estate attorney who can help you with all of your real estate transactions. Having legal representation makes good real estate business sense. A competent and experienced attorney will protect your interests.

Real Estate Attorney Jupiter

With over 50 years of experience as an attorney, Richard S. Weinstein assists clients with the important financial situations in their lives. Whether you are dealing with bankruptcy, real estate (both commercial and residential, including short sales, foreclosures, and title insurance), estate planning, probate, business formations, or sales or mergers, Richard S. Weinstein is the attorney with the education, experience, and knowledge you need! Call us at (561) 745-3040 or visit his website at


Law Office of Richard S. Weinstein, P.A.
250 S. Central Blvd. #101
Jupiter, FL 33458
Phone (561) 745-3040



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