Yankee_in_TX Posted June 18, 2009 Share Posted June 18, 2009 I can't remember from my real estate classes in law school. Are title companies regulated by the state and insured as a common pool (meaning there is some kind of fund to cover those that go belly up)?Or is it a safe bet to pick a well known 'brand name' title company? Link to comment Share on other sites More sharing options...
rbarz Posted June 20, 2009 Share Posted June 20, 2009 I can't remember from my real estate classes in law school. Are title companies regulated by the state and insured as a common pool (meaning there is some kind of fund to cover those that go belly up)?Or is it a safe bet to pick a well known 'brand name' title company?Yes, the Texas Department of Insurance or TDI regulates it. But, I can't remember anything about their pool or if there even is one. I know that the complaint process is bogus... they send one letter to the title company and then tell you to get a lawyer. Every little title company I have used is just the middle man for the actual insurer so I doubt it makes much of a difference. Link to comment Share on other sites More sharing options...
insidehouston Posted July 7, 2009 Share Posted July 7, 2009 "Or is it a safe bet to pick a well known 'brand name' title company? "I don't know about the pool. But brand name title companies have been having serious problems. So picking a brand name does not mean it won't go belly up during the transaction.I think most small companies operate under the umbrella of the larger companies but I could be wrong about that. I would go with a bigger one because I would think they would be more likely to have a decent process in place to find problems with the title (liens on the property and what not). I have had problems with small companies. Some are great but some seem like they dont quite know what they are doing and miss stuff Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.