Korea Escrow Anbu CEO Yun Hwan (left in photo) and Remax Korea CEO Shin Hee-seong are taking a commemorative photo after signing an agreement on escrow and title insurance services/Photo provided by Remax Korea

RE/MAX Korea, a global real estate franchise company, has signed a business agreement with Korea Escrow Anbu to provide ‘escrow and title insurance services’ to Remax customers.

‘Escrow and title insurance service’ compensates for losses incurred by buyers or lessees when problems arise in exercising real estate rights. Its characteristic is that it guarantees transparency and stability of real estate transactions for customers who have entered into real estate sales and lease contracts.

Shin Hee-seong, CEO of Remax Korea, said, "Real estate rights insurance clearly analyzes the rights relationship of the real estate being traded and confirms whether there are any problems with the ownership." He added, "There are no defects in the registration, but the transaction party may suffer damage due to forgery, double sales, illegal agency contracts, etc. He said, “It allows us to prepare for situations such as loss due to damages or defects related to ownership being revealed after the contract.”

In addition, both companies plan to provide ownership transfer registration services to customers who subscribe to real estate title insurance, notification services of register changes during the lease contract period for leased real estate, and legal services to defend ownership and leasehold rights.

Shin Hee-seong, CEO of Remax Korea, said, "Recently, real estate brokerage accidents such as lease fraud and sales accidents have been rapidly increasing. With this business agreement, Remax customers will be able to establish new safety measures for real estate transactions."

Remax is a company with a real estate network in over 110 countries around the world. It is headquartered in Denver, USA and has approximately 130,000 agents around the world.

Original link: https://news.mt.co.kr/mtview.php?no=2020072117082799276