Insurance Companies, Agents, Brokers, Policies - As enacted, requires title insurance agencies that separately represent the buyer and seller in a real estate transaction and agree to an arrangement to share the title insurance premiums, commissions, or other fees paid by the buyer and seller, to provide written notice to the buyer and seller of such sharing arrangement and to receive signed, written acknowledgement from the buyer and seller confirming that they were so notified in writing; ...

Summary

The bill gives purchasers in real‑estate deals the exclusive right to select the settlement (title) agent and bars sellers from forcing a particular agent. It also mandates that title insurance agencies that represent both parties and split premiums, commissions, or other fees must provide written notice and obtain signed acknowledgment from both buyer and seller. The changes aim to increase transparency and protect buyers in property transactions.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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