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Common Title Insurance Terms and Definitions

title insurance

When you’re ready to buy a home, you’re likely to encounter a whole new lingo that is quite confusing. Real estate agents might as well be speaking in a completely different language, with the way they throw around terms like “title insurance,” “escrow,” and more. If there’s something you don’t understand, you can always ask your agent to explain it to you. But if you want to do a little learning on your own, here’s a handy guide from a real estate attorney at Handin Law to help you as you navigate the new world of home ownership.

Basic Terms to Know

The following terms are some of the most common that you are likely to hear as you walk through the process of buying a home, from start to finish:

Title Insurance

In short, “title insurance” assures you as the buyer that you have better title to the property than anyone else in the world. It also protects your home from hidden issues, such as unpaid mortgages, liens, judgments against the prior owner(s), unpaid tax or tax liens, mechanic’s liens for work commissioned by the previous owners or complications with previous ownership. It’s essentially a form of insurance that protects the new homeowner from legal concerns regarding ownership. Like most homeowners, you will probably take out a mortgage to pay for the home over time. If so, two title policies are typically issued in this instance: a lender’s policy, or mortgage insurance, for whoever your lender is, and an owner’s policy for you.

Title Report/Title Search

The role of a title report is to examine public records to make sure the property you’re looking at is actually available to be sold. That may seem like common sense, but these laws exist for a reason: strange things have indeed happened! A title report also provides a history of who has previously owned the property, as well as any liens or unpaid mortgages on it – all things you and your attorney need to know as you make the important decision of whether to invest in the property.

If you have questions or concerns about the property you’re looking to purchase, your real estate attorney can help.


“Escrow” is when a third party temporarily holds money or property until certain conditions, such as mortgage approval or homeowner association approval have been met. These funds protect both buyer and seller during the transaction process.  After you close, if you have a mortgage, your lender may require to have an escrow account with them. Once you start paying your mortgage, the money for taxes and homeowner’s insurance payments will be held in this account and the money paid by you into your escrow account will be used by your lender to pay your taxes and insurance.

Title Insurance and More in Coral Springs

Gary I. Handin, P.A., and his attorney owned title company, FLORIDA HOME TITLE COMPANY,specialize in title insurance and other real estate concerns and has done so for nearly 50 years. Serving Florida residents, we have helped many Floridians on the exciting but occasionally overwhelming journey of home ownership. Our friendly, knowledgeable staff is here to help answer your questions and represent your interests with professionalism and compassion. In addition to title insurance services, we also offer expertise in escrow and closing services.

Have questions or concerns? Call us today at 954-796-9600 to schedule a legal consultation, in-person or over the phone.

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Law Offices of
Gary I. Handin, P.A.

Providing professional legal services for the city of Coral Springs. Contact us today for a free consultation – 954-796-9600.

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