title companies: Sellers and Listing Agents Beware! RESPA and Title Company Choices
- 03/30/09 02:29 PM
RESPA Statute 12 USCS Section 2608 Title Companies; liability of seller.(a) No Seller of property that will be purchased with the assistance of a "federally related mortgage loan" shall require directly or indirectly, as a condition to selling the property, that title insurance covering the property be purchased by the Buyer from any particular company.(b) Any Seller who violates the provisions of subsection (a) shall be liable to the Buyer in an amount equal to three times all charges made for such title insurance.Thus, the Buyer has the choice of which title company to use if a "federally related mortgage loan" is used; … (0 comments)
RESPA Statute 12 USCS Section 2608
;)
;)
