LandAmerica Goes Virtual with Title Policies, Commitments

SEATTLE-Commercial real estate agents and brokers are always seeking ways to make the transaction process faster and less expensive for the client. Traditionally, that process always has started on paper. Not any more.

LandAmerica Financial Group, the parent company of Transnation, Commonwealth and Lawyers title companies, says it will begin making its title commitments and title policies available over the Internet. “The decision was really driven out of customer demand,” said Peter Ostlander, vice-president of LandAmerica’s national commercial services group. “Our customers wanted their information faster. We have been gearing up for this for a long time and I think it will be a useful service. Not only do I think our customers will find it more efficient, we’ll be able to save a few trees at the same time.”

The electronic policies follows an online effort started two years ago by the company’s NiteOwl Web site, an electronic library containing much of the tax and property information collected by most of the counties in the United States.