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Are Offshore Title Plants Legal?

David Bloys   View David Bloys's profile on LinkedIn

March 13 2014

Public officials and land title professionals everywhere should be asking their state and federal regulators the same question. For years, public officials responsible for county records have been plagued by demands from foreign title plants and their domestic partners to hand over complete archives of real estate records at taxpayer expense.

This morning I ran across an interesting post by Patrick Wilkes in the Title Insurance Law group on LinkedIn.

"With thousands of trained title insurance professionals unemployed in the US - and substandard title insurance products produced offshore - I wonder why state and federal regulators close their eyes to this foolish (and to consumers, deceptive) practice," Wilkes says.

Is It Legal?

"Many states have laws which proscribe the performance of title insurance outside of their boundaries," according to Wilkes, "Why do they look the other way when the Big Boys contract with offshore title plants"?

It's a good question and one that Wilkes, a national real estate land title consultant should know a lot about. His work history in the title industry spans decades including seventeen years as Chief Title Officer/Commercial Title Officer for Old Republic Title, according to his LinkedIn Profile.

Mr. Wilkes is involved in an ongoing effort to keep title research and title insurance onshore and local. If you would like to learn more, you can contact him through his LinkedIn profile.


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