CONSUMER RIGHTS
UNDERSTANDING YOUR RIGHT TO CHOOSE A TITLE COMPANY
Like many professional services involved in a real estate transaction, consumers may ask questions, compare providers, review fees, and better understand how the closing process will be coordinated before selecting a title and settlement company. Illinois law recognizes a consumer's right to choose the title insurance company, title agent, or settlement service provider involved in a residential real estate transaction.
WHAT ILLINOIS LAW SAYS
THE ILLINOIS TITLE INSURANCE ACT PROVIDES, IN RELEVANT PART:
“…parties to a contract for the sale of residential real property who are obligated to provide and pay for title insurance have the right to choose the title insurance company and title insurance agent that will provide such title insurance.”
— 215 ILCS 155/18.1
“No person or entity shall require, directly or indirectly, as a condition of the sale, purchase, transfer, financing, refinancing, or insuring of any interest in real property… that title insurance covering the property be purchased from any particular title insurance company, title insurance agent, independent escrowee, escrow company, or title insurance company representative.”
— 215 ILCS 155/18.1(a)
IN SIMPLE TERMS
Illinois consumers have the right to choose the title company and title agent involved in their transaction. Consumers may compare providers, ask questions, review fees, and better understand how the closing process will be coordinated before making a decision.
Consumers' Choice Title Group believes transparency, education, and informed decision-making are important parts of the real estate closing process.
The Choice IS YOURS.
