It is insurance to protect the property owner in the event there
is a claim that affects the title to the property, such as a lien,
mortgage, judgment, fraudulent conveyance or third party claim.
It is purchased only once, at the time of closing, and the cost
is based on the purchase price at a rate set by the State of Florida Insurance Commissioner.
The cost for a title policy for the lender is issued at a nominal additional charge.