Which document would typically outline the powers and restrictions of a title agent?

The agent contract is the document that typically outlines the powers and restrictions of a title agent. This contract serves as a formal agreement between the title insurance company and the agent, detailing the scope of the agent's authority, responsibilities, and any limitations on their role. It defines the terms under which the agent can operate, including the types of transactions they are authorized to handle and the specific regulations they must adhere to in the course of their work.

The closing protection letter primarily protects parties involved in a real estate transaction by ensuring that they are covered if there are any errors or fraud related to the closing handled by the title agent. While it is important, it does not specify the powers and restrictions of the title agent themselves.

The Real Estate Settlement Procedures Act (RESPA) is legislation that aims to protect consumers by requiring disclosures related to settlement costs and practices, but it does not specifically address the operational powers of title agents.

A title policy is a document that provides insurance coverage for issues that may arise with a property’s title, such as liens or ownership disputes, but it does not define the agent's role or restrictions.

Understanding the agent contract is crucial for comprehending the specific responsibilities and limitations that title agents must operate within the framework of title insurance.