Most sellers (and importantly some Realtors and attorneys) believe the As-Is Residential Real Estate contract is better for them to convey title to their property, because they're selling the house As-Is with no guarantees or warranties. I believe this is false and the As-Is Contract is actually better for buyers.
Why do Title Deeds in Florida recite the marital status of the grantor, or contain a statement that the property does not constitute the homestead of the Grantor?
Title Insurance is like any other type of insurance. It is a policy that protects the ownership interest of the buyer (and lien interest of the lender) for anything that happened to or upon the property prior to the closing date. Title Insurance is also often misunderstood and under-appreciated by the buyer. The purpose of this blog entry is to explain the different sections of the title insurance commitment and policy.
There are three different forms of deed that can be used to convey title to real estate in Florida: Warranty Deeds, Special Warranty Deeds and Quit-Claim Deeds.