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Important information to Realty Title customers who received title insurance policies issued on Southern Title Insurance Corporation


2014-07-28 The State Corporation Commission for the Commonwealth of Virginia issued a ruling dated July 28, 2014, among other things, declaring Southern Title Insurance Corporation (STIC) to be insolvent. Of particular note to those holding STIC title insurance policies, the Commission in its Order established the deadline for filing claims to be 6 months from and after the date of the entry of its Order, but allowed for the possibility of extending that deadline for as much as a year from and after its July 28, 2014 Order.

To read the Order in its entirety, please click on the link here.

Click here for Receivership Documents

Please click on the following link to take you to important information provided by Southern Title Insurance Corp. on their web site in the form of Frequently Asked Questions Regarding Notice.

Southern Title Insurance Corporation FAQ

In November 2013, Realty Title received a notice in the mail from the Deputy Receiver of Southern Title Insurance Corporation (“STIC”). We have since learned that many of STIC’s Insureds have also received the same notice. A copy of this notice appears at the end of this message as does a follow up notice received in March 2014.

Why did you receive this notice?

The records for STIC indicate you were issued a title insurance policy providing coverage for property you either now own or formerly owned. As reported on the STIC notice, the Receiver has determined that STIC is insolvent and is seeking to set a date (formerly August 4, 2014, now revised to November 13, 2014) as the deadline for filing claims under STIC title insurance policies. A hearing on the matter is set for May 13, 2014.

Is your STIC title policy still good?

Unless and until the court renders a ruling otherwise, your title insurance policy remains valid. The Receiver, however, has indicated STIC will have insufficient funds to pay any claims filed after the proposed cutoff date for filing claims.

What should you do to protect yourself?

Realty Title is not a law firm and cannot give you legal advice as to what you should do. You may wish to consult with a local real estate attorney as to your options. The purchase of a new title insurance policy is an option worth considering.

Can you get a refund for the title premium you paid for your current STIC policy?

The STIC website indicates you should file a claim if you believe you are due a refund for any portion of the premium you paid.

How much would a new title insurance policy cost?

Title insurance rates in Tennessee are filed with the Tennessee Department of Commerce and Insurance and vary by county. The premium would also depend on whether you choose to purchase a "standard" owners title insurance policy or an "enhanced" Owner’s policy. Realty Title has made available quotes for title insurance on our website. GFE Calculator

Can you get any credit on any new title insurance policy for the premium you already paid to STIC?

If your Owner's title policy was issued within the last ten (10) years (Tennessee real property only), you may be eligible for a 'reissue credit', which could save you up to 30%. A refinance is a good opportunity to replace your STIC Owners' Policy with a new one issued by another title insurance underwriter. When you refinance, your lender will require you buy a new loan policy. The cost for an owners and loan policy separately are close in premiums in many markets, but when you purchase an Owner's Title Insurance Policy you can typically add the 2nd (Lender's) policy for just the simultaneous issue fee (typically for $35-$50).

How do you obtain a new title insurance policy?

Simply contact any local title company and/or real estate attorney and let them know you would like to place an order for an Owner’s Title Insurance Policy. Be sure to let them know you have a prior Owner’s Policy and ask for reissue credit.

Where do I obtain STIC’s Proof of Claim form?

The Proof of Claim form can be located at: Proof of Claim Form

Where can I go for more information?

More information may be found online at or by calling Southern Title’s phone number at 1-800-468-0151.

STIC’s Notice provides the following instructions: To receive further notice or additional information regarding the receivership proceedings, register with the Deputy Receiver online at, or call (804) 648-6000 to request a form to submit by mail to Southern Title, P.O. Box 399, Richmond, Virginia 23218, or by fax to (804) 644-0662. To exercise your right to object to the application and to participate in the February 4, 2014, hearing, a Notice of Objection must be received by the Commission and served on all parties of record no later than 1/6/2014.

Please review the October 18, 2013, Scheduling Order available at for information regarding submission requirements for a Notice of Objection.

Realty Title encourages you to follow the instructions provided in the notice in order to preserve any of your rights under the title insurance policy, including registering online to receive further communications. You may also wish to consult with your local real estate attorney to determine your course of action.

We are always here to help answer questions you may have about title insurance and to assist in any way we can.

Notice from Southern Title Insurance Corporation

Notice from Southern Title Insurance Corporation Revised