The Villages only guarantees clear title up to the day of closing. You can say there would be many law suits against the developer if there was a claim against your title, but you would lose. The title insurance will cover you if something comes up after your closing date. It's just like any other insurance, it will protect you in the event something happens. There is no way the developer would know if someone or something would jeopardize your title. Just like the rest of us, they have no crystal ball. It can be VERY expensive if you have to defend your title. The one time cost of insurance is a deal for peace of mind. And, just so you know, the Insurance Commissioner for the state of Florida sets the cost of title insurance, so it is not arbitrary.
|