The firm’s practice includes all aspects of real estate, including residential transaction, commercial transactions, buyer representation, seller representation, lender representation, builder representation, developer representation, contract negotiation, and all title insure matters.
In Florida, our firm and many other real estate law firms also serve as title insurance agents. This allows us to both represent our client to assure that the title to the property is suitable and to issue title insurance for additional protection. A title examination is a study of the abstract of title and sometimes of other title evidence. An abstract of title is a collection of public records relating to the ownership of a parcel of real estate. We examine the applicable title information to determine who owns the property, defects in or claims against the title, and we take any action needed to obtain marketable title. This process requires interpreting deeds, mortgages, wills, court decrees, and other instruments; considering the sequence of transactions and events affecting the title; and applying Florida Statutes and court decisions to the various situations disclosed in the applicable title information.
A title examination is typically bolstered by issuing an owner’s policy of title insurance. In such a policy, the title insurance company contracts with the insured person named in the policy to protect the title as insured against financial loss and the cost of defending the title in court. But like any insurance policy, the coverage is no greater than is stated in the policy. Any policy can list matters substantially affecting title that are exceptions to the coverage and are not insured. Another type of policy, the mortgagee’s or lender’s title insurance policy, protects only the owner and holder of the mortgage and not the owner.
There is only a one time charge for an owner’s policy and its protection continues for as long as you or your heirs hold title to the insured property.
In Florida, up to $50,000 of the assessed value of your home can be exempt from ad valorem taxes and a cap placed on tax increases of no more than 3% per annum. Every person who has legal title to or beneficial interest in real property in the State of Florida and who resides thereon and in good faith makes it his or her permanent residence as of January 1st of the application year is eligible.
If husband and wife hold title jointly, either may file but should bring proof of residence for the spouse (one exemption per married couple). If title is held jointly with person or persons other than husband and wife, each owner who resides thereon and makes it his or her permanent residence as of January 1st must make an application in person and present proof of residence. You must bring your recorded deed, and other proof of ownership when filing. You will also be required to provide the Social Security number for all owners on the deed.
Pineiro Byrd PLLC handles commercial transactions, including leases, purchase/sales and related matters for developers, builders, investors, and individuals.
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