Title 12 — Banks and Banking
Chapter 27 — Real Estate Settlement Procedures
§ 2608. Title companies; liability of seller
Statutory text
No seller of property that will be purchased with the assistance of a federally related mortgage loan shall require directly or indirectly, as a condition to selling the property, that title insurance covering the property be purchased by the buyer from any particular title company.
Any seller who violates the provisions of subsection (a) shall be liable to the buyer in an amount equal to three times all charges made for such title insurance.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Real Estate Settlement Procedures Act of 1974
Pub. L. 93–533 § 9 · 88 Stat. 1724
Enacted · 12 U.S.C. § 2608
(Pub. L. 93–533, § 9, Dec. 22, 1974, 88 Stat. 1728.)
Source evidence
Code source credit
(Pub. L. 93–533, § 9, Dec. 22, 1974, 88 Stat. 1728.)Enacted provision · exact public law section
Sec. 9. title companies (a) No seller of property that will be purchased with the assistance of a federally related mortgage loan shall require directly or indirectly, as a condition to selling the property, that title insurance covering the property be purchased by the buyer from any particular title company. (b) Any seller who violates the provisions of subsection (a) shall be liable to the buyer in an amount equal to three times all charges made for such title insurance.
1 of 1 references resolved to an enrolled provision
Statutory Notes and Related Subsidiaries
Effective Date
Section effective 180 days after , see section 20 of Pub. L. 93–533, set out as a note under section 2601 of this title.