PriorWrittenAgreement.com

Agents may Consider Licensing to Save on Cost of Title Evidence

Title Agents ordering Title Evidence throughout the State should consider whether it is cost effective to licensed their title agency in the same or contiguous counties where they generate a a signifigant number of title orders. 

Rule P-24, section (b) effect transaction less than $125,000.  According to the new rule, Agents MUST pay 90% of the Premium for Title Evidence unless they are in the same or contiguous county.  Specifically the new Rules states:

"or (ii) under section (b) above are licensed in the same county or in contiguous counties..."

Therefore, for Agents with a large volume of transactions under $125,000 they should consider whether it makes economic sense to get licened in the same or a contiguous county.  Integrity Title Records, Ltd., LLP provides Title Plant facilities for:

  o Harris
  o Montgomery
  o Fort Bend
  o Brazoria
  o Dallas
  o Denton
  o Collin
  o Tarrant
  o Bexar
  o (More coming soon)

Example 1:
If you are licensed in Collin County and want to buy Title Evidence in Tarrant County and the transaction is less than $125,000 you must pay 90% of the Premium to the company providing Title Evidence out of Tarrant County.  

Example 2:
If you are licensed in Fort Bend County and want to buy Title Evidence in Montgomery County and the transaction is greater than $125,000 you must pay 50% of the Premium to the company providing Title Evidence out of Montgomery County.  

Agents with a large number of higher dollar transactions greater than $125,000 may want to consider licensing in the same or adjacent county so they can earn a greater premium split than can be negotiated in a Prior Written Agreement.

Integrity Title Records provides affordable Title Plant Access in the major metropolitan areas in Texas and would be pleased to discuss your options for Title Plants, Title Evidence and Title Examination.