In Florida, title refers to the legal ownership of a property or real estate. Before a real estate transaction can take place, it is necessary to ensure that the title is clear and free of any liens, encumbrances, or other legal issues that could affect the transfer of ownership.

Title insurance is a type of insurance that protects a property owner and their lender against financial loss resulting from defects or issues with the title of the property. When a property is sold, the title company conducts a title search to identify any potential problems with the title, such as liens, encumbrances, or other legal issues that could affect the transfer of ownership. If any issues are identified, the title company will work to resolve them before the sale is finalized.

Title insurance provides coverage for any issues that may have been missed during the title search, such as errors or omissions in public records, fraud, or undisclosed heirs. If a covered issue arises after the sale is completed, the title insurance policy will reimburse the property owner or lender for any financial losses related to the issue.

In Florida, title insurance is typically required by lenders as part of a real estate transaction. The cost of title insurance is based on the value of the property and is typically paid for by the buyer or seller, depending on local custom and the terms of the sale.

You will want to have these items complete or in hand when you come to the closing (please confirm with your escrow officer prior to closing):

Buyer

Buyer’s copy of purchase agreement

Cashier’s check for amount needed to close

Proof of purchase of insurance for fire, casualty, etc.

Photo identification (passport, driver’s license, or state-issued identification card)

Seller

Seller’s copy of purchase agreement

Any unrecorded instruments that affect the title

Proof of satisfaction of any mechanics’ liens, chattel mortgages, judgments, or mortgages that were paid prior to the closing

Photo identification (passport, driver’s license, or state-issued identification card)