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Illinois considers choice of title company bill
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Legislative Developments
Wednesday, February 6, 2019
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The Illinois General Assembly is considering a bill that would amend the state’s Title Insurance Act to establish that it is public policy that parties for the sale of residential property who are obligated to pay for certain products and services related to title insurance have the right to choose the independent escrowee that will provide those products and services. It also would require that in counties with more than 500,000 people, the title company that issues the owner’s title policy would have to also provide the lender’s policy. Read on for more details.
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