Oasis Title Company Takes Advantage Of The Butler Rebate

BOCA RATON, Fla. - Dec. 11, 2014 - PRLog -- Oasis Title Company, a title insurance agency located in Boca Raton, FL, recently announced that they are offering all of their clients a discount on their title insurance premiums. The announcement comes during what has traditionally been a busy time for real estate in South Florida.

"Title insurance is a significant third-party closing cost for any real estate transaction," said Larry Weisberg, CEO of Oasis Title Company."We want to save our clients money during this Holiday season and also raise awareness about this rebate."

Oasis Title is able to offer their clients this discount on title insurance through a legal ruling known as the Butler Rebate. In 1992 the Florida Legislature passed a law stating that it was unlawful for the title insurer or title agent to rebate any portion of the title insurance premium back. The idea was to prevent title agents from offering kickbacks for business. In the State of Florida only 30% of the title insurance premium is required to be sent to the title insurance underwriter, the agent keeps the other 70% as compensation for their work during the closing.

However, in 2000 one agent, Butler, argued before the Supreme Court that this law violated his right to negotiate his own commission. Ultimately, the court agreed and in 2007 the State of Florida clarified the law stating that any portion of the title insurance premium could be rebated back to the party or parties who paid the premium.

"It's really a pretty unknown law. The reality is that many people don't even look at their title insurance premiums when closing, much less know about the ability to receive a rebate," said Mr. Weisberg. "We're hoping that this discount will raise awareness about title insurance in Florida and bring in more business for our company."

In the state of Florida title insurance rates are set by the Florida Legislature. Oasis Title Company offers their discount against these set rates. In addition, Oasis Title Company says that they will beat any title insurance quote by 10%. "There are some agents out there who offer the Butler Rebate to their clients and we are willing to compete with them. We're trying to make title insurance a competitive market."

If you would like to know more about how you can receive a discount on your title insurance, including another little known rebate you can go to http://www.oasistitlecompany.com