The title insurer, LandAmerica Financial Group agreed today to sell its three land title subsidiaries to Fidelity National Financial Inc., of Jacksonville, Fla., for almost $300 million and file for bankruptcy.
The subsidiaries are the underwriters Lawyers Title Insurance Corp., Commonwealth Land Title Insurance Company and United Title Capital Insurance Co.
Lloyd Osgood, a spokesperson for the company said along with selling the title companies to Fidelity, the firm has to file Chapter 11 for its holding company.
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