Whether you’re a new-in-town buyer looking for a condominium or a seller looking for a change of scenery, there are a few things you should know about how title insurance works in Florida.
Where You Live Dictates Who Pays for Title Insurance
Varies within the county
titlegenius by Radian offers the Butler Rebate on every Florida transaction
What it is, how it helps you save, and how to get it
In Florida, title insurance premiums are set by the state. Generally, rebates and other discounts on premiums are prohibited in Florida. However, the Butler Rebate is an available option that allows a title company to rebate a portion of the title insurance fee.
The Butler Rebate stems from a Florida Supreme Court case in 2000. S. Clark Butler, a Florida builder and developer, filed a lawsuit against the Florida Department of Insurance alleging that certain anti-rebate statutes are unconstitutional. The Florida Supreme Court ultimately agreed with Mr. Butler, and thus the “Butler Rebate” was born.
Essentially, the Butler Rebate is a discount on a title insurance premium that title companies can offer to the paying party.
Many title companies won’t offer you the Butler Rebate unless you request it. When you obtain a quote from titlegenius by Radian, the Butler Rebate is included on every transaction for every client. In addition to the Butler Rebate, titlegenius by Radian may help you save on closing costs and other fees.