Owner and Lender Title Policies in Florida
FL title insurance: Owner’s policy (protects buyer; purchase price; lasts with ownership; optional but recommended). Lender’s policy (protects lender; loan amount; decreases as paid; required by lenders). Who pays: varies by county; most: seller pays owner’s; buyer pays lender’s. Premium: FL regulated (Chapter 627), one-time at closing. Simultaneous discount. Coverage: defects, liens, encumbrances, defense costs, and loss. Exclusions: known defects, government, environmental.
Two Policies
- Owner’s: buyer, purchase price
- Lender’s: lender, loan amount
- Owner’s optional, lender’s required
Who Pays
- Varies by county
- Most: seller pays owner’s
- Buyer pays lender’s
Coverage
- Defects, liens, encumbrances
- Defense costs, loss of title
- Exclusions: known, zoning, environmental
Related Terms
- Title Commitment — Pre-policy
Barnes Walker Real Estate
Barnes Walker’s attorneys handle title insurance in Florida. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. § 627.7711
Regulates title insurance rates, forms, and practices in Florida. Title insurance premiums are promulgated by the Florida Office of Insurance Regulation.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC