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Heartland Subsidiary Buys Title Texas

DALLAS-Federal Title has completed a selected asset purchase of Title Texas Inc., one of the largest full-service independent title agencies in the US. The value of the deal was not disclosed.

By Alex Finkelstein | Updated on December 22, 2006

DALLAS-Locally based Title Texas Inc., one of the largest full-service independent title agencies in the US, has been sold to Federal Title Inc., a newly formed subsidiary of Heartland Security Insurance Group of Tyler.

The value of the transaction wasn’t disclosed. Vicki Rutherford Cearnal, former president of Title Texas, takes over the same position at Federal Title. Cearnal didn’t return GlobeSt.com’s requests for comment on the transaction.

In a prepared statement, Title Texas founder and outgoing CEO Spence Kendrick says he was pleased his company was purchased by “an organization that will continue to maintain our commitment to being independent in the marketplace.” Title Texas has been an issuing agent for most of the nation’s largest insurance underwriters and provided over $230 million in single-risk title insurance since it was founded in 1979.

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