According to Missouri law, who can choose the title agency that issues a title insurance policy?

In the context of Missouri law, the individual or entity responsible for paying for the title insurance policy has the authority to choose the title agency that issues the policy. This principle is grounded in consumer rights, as it ensures that the purchaser has the option to select a provider that meets their needs and preferences, fostering competition among title agencies and potentially influencing the service quality and pricing.

Typically, the person or entity that pays for the title insurance holds a vested interest in the transaction, as they are the ones directly affected by the costs and coverage associated with the policy. This choice empowers them to select a title agency they trust or one that has a reputation for providing excellent service and reliable coverage, ultimately promoting a more favorable transaction experience.

While lenders, real estate agents, or local government agencies may influence the transaction in various ways, Missouri law specifically recognizes the buyer's financial responsibility as the key factor in determining who has the discretion to choose the title agency. This ensures that the choice is aligned with the party that bears the financial cost.