Welcome to Trinity Title of Pasco. We offer complete title and escrow services throughout the entire State of Florida. Our mission is to provide our customers with the best service in the title industry. You can expect prompt, accurate, quality title services at a reasonable price. We focus on YOU, the customer. We understand your needs and will exceed your expectations by providing customized service. Our experienced staff is just a phone call away and is ready to handle all of your title insurance needs.
What is title insurance? Real estate title insurance, unlike most types of insurance, insures the property title for the time period extending backward from a point in time rather than forward. This means that when a buyer purchases a piece of Florida real estate, a Florida title insurance policy insures that the buyer is protected if a defect in the property title is discovered.
Example title defects may include, but are not limited to, any the following situations:
* The seller has fraudulently sold the property to another recent buyer.
* A prior seller has fraudulently sold the property to more than one buyer.
* The seller purchased the property while committing mortgage fraud.
* The boundaries may be incorrect and part of the property may actually be owned by an adjacent neighboring property owner.
* There may be an easement burdening the property which limits the uses and thereby decreases the value of the property.
* Structures on the property may encroach onto easements or an adjacent property.
* The seller or prior seller may have outstanding personal judgments which could attach to the property.
* Foreclosure sale issues
These are just a few examples of the issues that can affect the title of property. There are many other potential problems, including issues involving real estate developers, condominium conversions, permit liens, utility liens, survey errors or omissions, water rights and access, docks, condominium association mortgages, foreclosure liens and filings, and mortgage fraud.
A Lender will typically require a mortgagee title insurance policy to provide a guarantee of the quality of their collateral. Most Lenders also require additional Florida title insurance endorsements, which increase the protection for the lender, and have additional Florida title insurance rates.
An escrow, sometimes referred to as a closing, is an arrangement in which an impartial third party called an escrow holder becomes the depository for all monies, instructions and documents pertaining to the transaction on behalf of a buyer and seller and/or lender after you enter into an agreement with a lender or mortgage broker to refinance your home, sign a contract to buy or sell a home or any other property. The funds are distributed and documents are recorded only in accordance with the written instructions received from the parties. Once all the terms and conditions of the written instructions of all parties have been fulfilled, and all closing conditions satisfied, the escrow is closed and the transfer of property and money is accomplished.
People buying and selling real estate often open an escrow for their protection and convenience. The buyer can instruct the escrow holder to disburse the purchase price only upon the satisfaction of certain prerequisites and conditions. The seller can instruct the escrow holder to retain possession of the deed for the buyer until the seller's requirements, including receipt of the purchase price, are met. Lenders regularly open an escrow to ensure that loan proceeds are not disbursed until the lender has a valid lien recorded against the borrower’s property to secure their loan. All parties rely on the escrow holder to faithfully carry out their mutually consistent instructions relating to the transaction or to advise them if any of the instructions are contradictory or cannot be completed.
Trinity Title of Pasco, Inc. is committed to providing a consistent level of service while supporting the health and safety of our customers and employees alike.
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