Alamo Title Company is an agent of Alamo Title Insurance, a wholly owned subsidiary of Fidelity National Title Insurance Company, the largest title insurance underwriter in the United States. As a Fee Attorney for Alamo Title Company, the Stroup Law Firm has the ability to close real estate transactions across the State of Texas. The product is the same, so customer service and knowledge make the difference. Robert C. Stroup has closed thousands of real estate transactions since 1983, from under $500.00 to over $17,000,000.00, including commercial, residential, vacant land, ranches, and outdoor advertising sign easements. Robert’s many years of experience as both a title examiner and a closer is invaluable on handling even the most complex deals.
What is a fee attorney?
A Fee Attorney refers to an attorney who has entered into a contractual relationship with a title insurance company, or an agent of a title insurance company, to close real estate transactions on its behalf in exchange for a portion of the title premium. (In Texas, title insurance premiums are established by the Texas Department of Insurance and must be charged as promulgated. Other states allow for a range of premiums or even complete discretion on the part of the insurance company as to what is charged.)
The business of title insurance consists of three basic functions: a title search, closing the transaction, and issuance of a title policy or policies. A Fee Attorney performs the closing function. All title companies (the agent) or title insurance companies (the underwriter) also have employees who handle closings. For the public, it is often hard to tell whether a title office is a company owned office or a Fee Attorney office. An attorney who is directly involved in his or her Fee Attorney operation (not all are) can be a valuable resource for parties seeking guidance on certain issues. While a Fee Attorney represents the title company or title insurance company with whom he or she has a closing agreement, a Fee Attorney may also represent one of more parties to a transaction if no conflict exists or is likely, and if all parties consent. An common example would be where a buyer retains the Fee Attorney to represent her in the purchase of a house. The Fee Attorney may prepare a contract and advise the buyer on certain issues. The Fee Attorney would also suggest that the transaction close at the Fee Attorney’s office. The seller may need assistance with title curative matters or need a deed prepared, and a lender may need loan documents prepared. The Fee Attorney can perform all of these functions if the situation allows.