Can a title agent pay the CPL fees on behalf of the buyer or seller?
Nothing in the Act or Rule 87 requires a CPL fee to the buyer or seller. The CPL charge is a fee payable to the title insurer by the title agent for the issuance of a CPL. It is permissible to charge the CPL fee to the buyer or seller, but if a title agent chooses to not charge the buyer or seller the CPL fee, the agent will still be responsible for remitting the full amount of the CPL fee to the title insurer. Additionally, title agents who choose to not charge the buyer or seller should be aware of, and comply with, the RESPA rules on illegal kickbacks and inducements.
Related Questions
- What if the Seller agrees to pay the Buyer Agent commission, but needs to increase the price to reflect the commission, and the Buyer knew about the lower price selling private?
- How does Commander streamline my communication with the seller, lender, title company & buyer’s agent?
- Can a title agent pay the CPL fees on behalf of the buyer or seller?
