Hey Kevin,

I originally liked the idea of having the abstractors buy into a company and having an ownership interest.  I even contacted my attorney about the possibility of issuing stock in Source of Title and using this site as the vehicle.  He STRONGLY advised me against it.  Even a Regulation D private stock offering has so much red tape that it would costs tens of thousands of dollars to set up and comply with each state's Blue Sky Laws.  My attorney advised that we would be opening the door to massive listigation that would easily put us out of business.  Even if the investors are satisfied, each state could bring suit for any perceived violation of their securities laws.  The legal fees to set this up would be cost prohibitive.

This is the main reason I have proposed making it a fee based service, rather than an equity position.  It was worth looking into it, but at this time, I am affraid of doing any kind of equity arrangement.

~Robert A. Franco
SOURCE OF TITLE