Title Insurance Companies - means any domestic company organized under the laws of this State for the purpose of conducting the business of guaranteeing or insuring titles to real estate and any title insurance company organized under the laws of another State; the District of Columbia or foreign government and authorized to transact the business of guaranteeing or insuring titles to real estate in this State.
Title agents are companies or individuals registered by the title insurance underwriters to conduct real estate transactions throughout the State of Illinois.
The Act also requires the certification of Independent Escrowees. These independent escrowees receive deposits, in trust, of funds or documents for the purpose of effecting the sale, transfer, encumbrance or lease of property held until the title to the subject property is in prescribed condition.
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