Open Forum

Presidential Title LLC and its founder recently filed lawsuits against three state departments of insurance challenging in-state brick-and-mortar office requirements. In lawsuits filed in Texas and Arkansas, the Texas-based title company contends that requiring a physical office imposes illegal barriers to interstate commerce, and discriminates against out-of-state, digitally enabled providers and favors local companies. Meanwhile, Geoffrey Polk, president and founder of Presidential Title, is the plaintiff in a lawsuit in Delaware challenging the state's physical office requirements. Click here to read more.

Jeremy,

This raises an important question: Where does ALTA stand on this? Does ALTA support "out-of-state, digitally enabled providers" or local companies? Since I've been in the industry, 1993, we've been about local expertise and personalized service.

So, where will ALTA place its chips?

Ed

Edwin G. Generes, CPA (Inactive)

Founder & CEO

[email protected]

LinkedIn: linkedin.com/in/edwin-generes-86b40220/

Member: American Land Title Association

Member: Association of International Certified Public Accountants

Certified: Cybersecurity for Finance and Accounting Professionals

1040 Old Spanish Trail, Suite 10

Slidell, LA 70458

985-317-3398 (Direct)

985-641-3490, ext. 101

Superior technology combined with exceptional expertise

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Notice: This communication, including attachments, may contain information that is confidential and protected by the laws of privilege. It constitutes non-public information intended to be conveyed only to the designated recipient(s). If the reader or recipient of this communication is not the intended recipient, an employee or agent of the intended recipient who is responsible for delivering it to the intended recipient, or you believe that you have received this communication in error, please notify the sender immediately by return e-mail and promptly delete this e-mail, including attachments without reading or saving them in any manner. The unauthorized use, dissemination, distribution or reproduction of this e-mail, including attachments is prohibited and may be unlawful. Further, nothing in this communication and/or its attachments should be considered legal, tax or accounting advice or the rendering thereof.

Presidential Title LLC and its founder recently filed lawsuits against three state departments of insurance challenging in-state brick-and-mortar office requirements. In lawsuits filed in Texas and Arkansas, the Texas-based title company contends that requiring a physical office imposes illegal barriers to interstate commerce, and discriminates against out-of-state, digitally enabled providers and favors local companies. Meanwhile, Geoffrey Polk, president and founder of Presidential Title, is the plaintiff in a lawsuit in Delaware challenging the state's physical office requirements. Click here to read more.

The irony of someone from Texas suing other states on physical office requirements. Texas is one of the most notorious states for barring entry to new and/or out of state companies.

I wonder if ALTA is not taking a stance in an attempt to ride the middle line? They can't choose a side without upsetting a large group pf people. But I would think they would be for the little guys but you never know. The problem is with their dues structure, many smaller companies are not members and many of the larger companies don't care.

And, yes Ed, I see issues caused all the time from multistate out of state companies attempting to issue title insurance in their non home state. There is no way someone can be up on the requirements in all 50 states. My experience is that locally owned, small footprint companies do better than multi office companies because they have to. A claim could potentially take out a small company but for many larger operations, a claim is a cost of doing business.   

Jeremy,

This raises an important question: Where does ALTA stand on this? Does ALTA support "out-of-state, digitally enabled providers" or local companies? Since I've been in the industry, 1993, we've been about local expertise and personalized service.

So, where will ALTA place its chips?

Ed

Edwin G. Generes, CPA (Inactive)

Founder & CEO

[email protected]

LinkedIn: linkedin.com/in/edwin-generes-86b40220/

Member: American Land Title Association

Member: Association of International Certified Public Accountants

Certified: Cybersecurity for Finance and Accounting Professionals

1040 Old Spanish Trail, Suite 10

Slidell, LA 70458

985-317-3398 (Direct)

985-641-3490, ext. 101

Superior technology combined with exceptional expertise

All our outgoing emails are supported by TLS encryption. We have verified the recipient(s) of this message has/have also enabled TLS encryption.   Email communications are automatically secure if their email server supports Transport Layer Security (TLS). This means the entire transmission is 100% secure and meets all NPI requirements for secure email communications.

Notice: This communication, including attachments, may contain information that is confidential and protected by the laws of privilege. It constitutes non-public information intended to be conveyed only to the designated recipient(s). If the reader or recipient of this communication is not the intended recipient, an employee or agent of the intended recipient who is responsible for delivering it to the intended recipient, or you believe that you have received this communication in error, please notify the sender immediately by return e-mail and promptly delete this e-mail, including attachments without reading or saving them in any manner. The unauthorized use, dissemination, distribution or reproduction of this e-mail, including attachments is prohibited and may be unlawful. Further, nothing in this communication and/or its attachments should be considered legal, tax or accounting advice or the rendering thereof.

Presidential Title LLC and its founder recently filed lawsuits against three state departments of insurance challenging in-state brick-and-mortar office requirements. In lawsuits filed in Texas and Arkansas, the Texas-based title company contends that requiring a physical office imposes illegal barriers to interstate commerce, and discriminates against out-of-state, digitally enabled providers and favors local companies. Meanwhile, Geoffrey Polk, president and founder of Presidential Title, is the plaintiff in a lawsuit in Delaware challenging the state's physical office requirements. Click here to read more.