AOL provider Voxtur files for Chapter 15 bankruptcy
Summary
Voxtur, a provider of attorney opinion letters (AOLs) related to real estate, has filed for Chapter 15 bankruptcy. This filing highlights the risk of using AOLs as an alternative to title insurance, and hosts should be aware of the potential liabilities and risks associated with such alternatives in their real estate dealings.
Key Insights
- •Voxtur had approximately $44.5 million in assets and liabilities of $77.7 million as of March 31, 2025.
- •Voxtur recorded operating losses of $54.3 million in 2023 and $73.6 million in 2024.
Action Items
- ✓Review your property's title insurance and consider the risks of alternatives to ensure proper coverage and protection.Effort: mediumImpact: medium
Common Mistakes
- ⚠Adopting AOL programs can lead to continuity, liability, and counterparty risk.
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