Industry News
October 20, 2009
California Title Companies Collect Millions in Child Support Each Year
The California Land Title Association estimates that title and escrow companies in California are directly responsible for helping to collect almost $7 million in unpaid child support just in the last fiscal year (2008/2009). This estimate is based on recent figures released by the California Department of Child Services. Title companies discover outstanding child support liens and collect these amounts in the title and escrow process. Custodial parents rely on this money to pay for raising their children in this difficult economy. The CLTA is very proud of its members who play a vital role in this collection process.
Child support collection highlights the importance of the title industry beyond its traditional role of issuing title insurance and conducting title searches to finalize real estate and loan transactions. Title companies in California have also collected millions of dollars in the past few years for state and local government by discovering other liens associated with unpaid real estate taxes, special assessments, and other fees vital to paying for California’s infrastructure.
