Title Insurance

Tampa, FL Title Insurance Services

At Compass Land and Title, we understand the critical importance of title insurance in protecting property owners and lenders from unforeseen title defects. Title insurance safeguards against potential claims arising from unknown defects in the title at the time of property sale, including fraud, forgery, unpaid property taxes, judgments, liens, or other encumbrances.

Policy Types

There are two primary types of title insurance policies:

Lender’s Policy (Mortgage Loan Policy):

• Protects the lender’s interest in the property.
• The coverage amount typically equals the loan amount and decreases as the loan balance decreases due to mortgage payments.

Owner’s Policy (Fee or Purchase Policy):

• Protects the property owner up to the full original sales price of the property, for the entire time you own the property
• The coverage amount remains constant and does not decrease over time.
• Applies to Leasehold Policies and Construction Loan Policies as well.

Licensed Title Insurers

Compass Land and Title works with licensed title insurers approved by regulatory authorities. We provide transparency by offering access to a list of licensed title insurers and their websites for additional information.

Discounted Premiums

Title insurance premiums may be lower under specific circumstances:

• Simultaneous Mortgage Issue: Reduced rates apply when both Owner’s and Mortgage policies are issued at the same closing.
• Refinance/Subordinate Mortgage: Discounted premiums are available for Mortgage Loan policies issued during refinancing within ten years of a prior insured mortgage or fee policy, without change in ownership or property.
  
  

Trust Compass Land and Title for reliable title insurance services in Tampa, ensuring protection and peace of mind for property owners and lenders. Contact us today to learn more about our title insurance offerings tailored to your needs.