Oct. 30 (Bloomberg) -- Frank Pellegrini, the lawyer who founded Prairie Title Services Inc. in Illinois, was named president of the title insurance industry’s trade group.
Pellegrini will serve for the 2012-2013 year, the American Land Title Association said today in a statement.
The group represents more than 4,000 companies according to the statement. Title insurers use their records and public documents to verify a seller is a property’s true owner and that it is free from liens. The companies collect a premium at the closing of the purchase and pay costs that may arise if someone disputes the new owner’s right to the property.
Pellegrini has been involved in the industry since the 1970s and joined Chicago Title Insurance Co. in 1978 before starting a law firm. He and his wife formed the Prairie agency in Oak Park, Illinois.
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