CHICAGO, June 26 /PRNewswire/ -- Chicago Title and Trust Co. (CT&T), a
subsidiary of Chicago Title Corporation (NYSE: CTZ), and JoAnn Lockard, owner
and president of Escondido Escrow and Ranch & Coast Escrow, Escondido, Calif.,
announced today that CT&T is purchasing the assets of both escrow companies,
including timeshare operations. CT&T is one of the nation's leading real
estate transaction services companies.
"Escondido Escrow and Ranch & Coast Escrow are two of the largest and most
experienced escrow providers in the state and one of the leading timeshare
escrow organizations in the nation," said William Halvorsen, senior vice
president and Western division manager, Chicago Title Insurance Co., a
subsidiary of CT&T. "This purchase continues our expansion efforts in
Southern California and strengthens our position by enabling us to provide
complete title and escrow closing services to the timeshare industry
throughout the country."
"The sale to CT&T is about our future -- the future of our employees and
the future of our clients," said Lockard. "For some time now, our vision of
the future has been that the bundling of title and escrow services under the
strength of a national title insurance company was a win-win situation for
everyone. CT&T is a perfect fit for us because it complements our vision and
has a solid foundation of providing real estate transaction services and
products beyond title and escrow."
Lockard, who has owned and managed the business since 1982, will continue
to manage the escrow divisions as vice president. As well as being a
certified senior escrow officer, Lockard is an attorney and is well-versed in
all types of real estate transactions. She is a respected leader in the San
Diego real estate community and is known for her entrepreneurial spirit.
Escondido Escrow was founded by Anne and John Radspinner in 1980 and later
bought by Lockard in 1982. Together with its sister company, Ranch & Coast
Escrow, the companies currently boast six branch offices throughout San Diego
and Southern Riverside counties with approximately 100 employees. With
headquarters in Escondido, the companies also have operations in Fallbrook,
Rancho Bernardo, Rancho Santa Fe, Temecula and Vistano.
The Chicago Title and Trust Family of Companies is the source of real
estate services, providing title insurance, escrow and closing services, as
well as valuation, credit, flood certification and default management products
through a network of more than 300 full-service offices and approximately
3,800 agents nationwide. The CT&T Family -- including Chicago Title Insurance
Co., Ticor Title Insurance Co. and Security Union Title Insurance Co. --
issues approximately one in every five title insurance policies in the United
States with annual gross revenues in excess of $1.46 billion.
SOURCE Chicago Title and Trust Co.
 back to top
Related links:
http://www.westerndivision.ctt.com
CONTACT:
Stephen Flanagan of Chicago Title and Trust
Co., 312-223-2959
NOTE TO EDITORS: For additional information on the CT&T Family's
products and services, visit our web site at
http://www.westerndivision.ctt.com
|
