How to Deal with Endorsements & Title Insurance in the State Florida img

How to Deal with Endorsements & Title Insurance in the State Florida

calender icon 5/23/2022    poster icon  Mark Goodman

When it comes to commercial title insurance, each state has its own rules and regulations that govern the process. It’s important to work with a title company that knows the local customs. In this article, we are going to discuss how to deal with endorsements and title insurance in the state of Florida.

Title Insurance Endorsements

In Minnesota (and most states), title insurance companies use ALTA (American Land Title Association) endorsements when underwriting title insurance. Florida is not a standard ALTA state so you cannot utilize these forms when underwriting in the state. Instead, you must use Florida’s own proprietary endorsement forms. These look similar to the ALTA forms but have been approved by the Florida Department of Insurance.

What Endorsements are Not Allowed?

The biggest difference between endorsements in Florida and endorsements in most other states is the number available. For example, there are 44 ALTA endorsements available in Minnesota, but there are only 8 endorsements available in Florida. Many of the endorsements we think of as standard in Minnesota are simply not allowed in Florida. So if you’re working on a commercial transaction in Florida and you’re advised that particular coverages are not available, that’s because the regulators have specifically not approved those coverages for issuance in that jurisdiction.

Commercial Partners Title Company

Commercial Partners Title Company has decades of experience in the commercial title industry. Over our tenure, we have developed a reputation as being experts in commercial title transactions. Our team consists of escrow agents, title closers, underwriters, and more! We’re ready and waiting to help you through all the details of your transaction. Contact us today to learn more about our title services and see how we can help facilitate your next commercial transaction.