Florida Statute 627.7711 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVII
INSURANCE

Chapter 627
INSURANCE RATES AND CONTRACTS

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F.S. 627.7711

627.7711 Definitions.—As used in this part, the term:

(1)(a) “Closing services” means services performed by a licensed title insurer, title insurance agent or agency, or attorney agent in the agent’s or agency’s capacity as such, including, but not limited to, preparing documents necessary to close the transaction, conducting the closing, or handling the disbursing of funds related to the closing in a real estate closing transaction in which a title insurance commitment or policy is to be issued.

(b) “Primary title services” means determining insurability in accordance with sound underwriting practices based upon evaluation of a reasonable title search or a search of the records of a Uniform Commercial Code filing office and such other information as may be necessary, determination and clearance of underwriting objections and requirements to eliminate risk, preparation and issuance of a title insurance commitment setting forth the requirements to insure, and preparation and issuance of the policy. Such services do not include closing services or title searches, for which a separate charge or separate charges may be made.

(2) “Premium” means the charge, as specified by rule of the commission, which is made by a title insurer for a title insurance policy, including the charge for performance of primary title services by a title insurer or title insurance agent or agency, and incurring the risks incident to such policy, under the several classifications of title insurance contracts and forms. As used in this part or in any other law, with respect to title insurance, the word “premium” does not include a commission.

(3) “Title insurer” means any domestic company organized and authorized to do business under the provisions of chapter 624, for the purpose of issuing title insurance, or any insurer organized under the laws of another state, the District of Columbia, or a foreign country and holding a certificate of authority to transact business in this state, for the purpose of issuing title insurance.

(4) “Title search” means the compiling of title information from official or public records.

History.—ss. 575, 809(2nd), ch. 82-243; s. 79, ch. 82-386; ss. 88, 114, ch. 92-318; s. 6, ch. 99-286; s. 1200, ch. 2003-261; s. 2, ch. 2005-153; s. 3, ch. 2007-44; s. 20, ch. 2014-38; s. 6, ch. 2014-132.

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Amendments to 627.7711

Arrestable Offenses / Crimes under Fla. Stat. 627.7711

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 627.7711.

Annotations, Discussions, Cases:

Cases Citing Statute 627.7711

Total Results: 3

Commonwealth Land Title Ins. Co. v. Higgins

Court: Fla. Dist. Ct. App. | Date Filed: 2008-03-05T23:53:00-08:00

Citation: 975 So. 2d 1169

Snippet: title insurance in the State of Florida. See § 627.7711(3), Fla. Stat. (2003). The respondents allege

Chicago Title Ins. Co. v. Butler

Court: Fla. | Date Filed: 2000-10-19T00:53:00-07:00

Citation: 770 So. 2d 1210

Snippet: the risk of issuing the title insurance. See § 627.7711, Fla. Stat. (1997).[8] Under the Insurance Code… the risk assumed by the title insurer. See §§ 627.7711, .782, Fla. Stat. (Supp.1992). Under the newly…the cost for providing such services. See id. § 627.7711(1); Fla. Admin. Code r. 4-186.003(13)(a) ("…issuance of the policy. See id. § 6 (amending section 627.7711(1), Florida Statutes (1997)). [9] Butler'

Preferred Title Ser. v. Seven Seas Resort

Court: Fla. Dist. Ct. App. | Date Filed: 1984-11-14T23:53:00-08:00

Citation: 458 So. 2d 884

Snippet: legitimate business and is regulated by section 627.7711 627.7865, Florida Statutes. The business of