LandAmerica Financial Group, the parent company of Transnation, Commonwealth and Lawyers title companies, says it will begin making its title commitments and title policies available over the Internet. "The decision was really driven out of customer demand," said Peter Ostlander, vice-president of LandAmerica's national commercial services group. "Our customers wanted their information faster. We have been gearing up for this for a long time and I think it will be a useful service. Not only do I think our customers will find it more efficient, we'll be able to save a few trees at the same time."

The electronic policies follows an online effort started two years ago by the company's NiteOwl Web site, an electronic library containing much of the tax and property information collected by most of the counties in the United States.

One of the site's more popular components is the Sales Tracker, a service that will automatically email a client when recently sold properties that meet the client's criteria. The email will contain a link that will send the person to the Sales Tracker component where the client can view the properties that matched the criteria.

"The idea for the NiteOwl came from out customers – brokers, attorneys, lenders - who did not have until the next day to conduct their research," Ostlander said. "They wanted the ability to work nights and weekends but our person behind the counter couldn't always be there. The NiteOwl is an extension of the person behind the counter that can be around longer than the average work day."

Ostrander said LandAmerica would continue with its online ideas and efforts and expects transactions to be consummated online when digital signatures become more accepted. Digital signatures involve technologies that verify a person's identity, authenticate certain documents and assure safe transmission of contracts over the Internet.

A new federal law, which became effective late last year, places electronic signatures on the same legal ground as old-fashioned signatures. Customers can choose whether to sign electronically or by hand, but the law requires certain types of documents to be in paper format. The law includes a provision specifically stating that records authorized with a digital signature may include "loan(s) secured by real property.

"The world works differently now," Ostrander said. "Part of that is a need for speed and efficiency. I don't know why we all wouldn't want to keep moving in that direction."