In a Ocala transaction, a buyer wants the Florida rule on promulgated-rate context. Which statement is correct?
Correct Answer
A) Who pays for the owner's title policy in Florida is often handled by contract or county custom, not a single statewide legal mandate.
Who pays for the owner's title policy in Florida is often handled by contract or county custom, not a single statewide legal mandate. This follows Current Florida title-insurance and closing practice; Pearson VUE Florida Sales Associate CIB.
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In a Tampa transaction, a buyer wants the Florida rule on chain of title. Which statement is correct?
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- → All of the following are essential elements of a valid deed in Florida EXCEPT:
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Previous Question
A Tallahassee buyer purchases a property for $275,000 with a $220,000 mortgage. The title insurance rates are $4.50 per $1,000 for the owner's policy and $3.00 per $1,000 for the lender's policy. What is the total title insurance premium?
Next Question
A buyer in Miami purchases a condominium and discovers after closing that there is an undisclosed mechanics lien from previous construction work. The buyer has an owner's title insurance policy. What is the most likely outcome?