The Ohio Title Agent Bond is required by the State of Ohio in the amount of $150,000. The bond states that the bondholder shall indemnify any person against the loss of money or such property, through any fraudulent or dishonest act or acts committed by the bondholder, its employees or officers as an escrow, settlement, or closing agent in a transaction where there is no title insurance policy issued.
Any licensed title insurance agent, individual or business entity, who handles escrow, settlement, or closing functions for real estate transactions must have a bond. The bond will benefit any aggrieved persons sustaining a loss resulting from theft, misappropriation, fraud or any other failure to properly disburse settlement, closing or escrow funds in a real estate transaction not involving the issuance of title insurance.
All who wish to be a Title Agent must submit a completed application form, a fee of $10 and any other supporting documents. Resident applicants must also complete a State and Federal criminal background check. In addition, they must pass the Ohio Title examination.
The process for getting an Ohio Title Agent Bond is simple here at Surety1. First, start the process by completing our free online application form. It will only take you a few minutes to answer. Next, upon submission, we will have our licensed agents contact you with a quote for the bond premium.
After that, we’ll collect payment for the quoted amount and any necessary paperwork. You will receive your Ohio Title Agent bond through USPS Priority Mail. If you need to get it faster, you can always choose overnight delivery, but there is an additional cost.
Our company is one of the most trusted in this industry. We started in 2003, issuing surety bonds for all 50 states. Over time, we not only earned the trust of many clients but even of trusted business ranking corporations such as Better Business Bureau, who gave us an A+ rating.