Analysis
NAICS 541191 is the 2022 national industry for title abstract and settlement offices, part of 54119 (Other Legal Services). Census lists 4 example activities under it in the official index.
By establishments it ranks 1st of the 2 codes at this level within Other Legal Services, with 63% of them.
County Business Patterns counts 9,825 US establishments in this code in 2023, employing 62,997 people at an average annual payroll of $66,465 per employee (46th percentile of national industries). 63% of the establishments have fewer than five employees, which marks it as a small-business industry.
Its index entries, the activities Census uses to assign businesses to this code, include settlement offices, real estate, title abstract companies, real estate, title companies, real estate and title search companies, real estate.
Census lists 3 related activities that belong elsewhere, most often in 541110, 524 and 531390. Businesses that do several things are classified by their primary activity, the one that generates the most value, so check those boundaries before settling on this code.
For example, businesses of lawyers and attorneys primarily engaged in the practice of law are classified in 541110 (Offices of Lawyers) instead.
Official definition
This U.S. industry comprises establishments (except offices of lawyers and attorneys) primarily engaged in one or more of the following activities: (1) researching public land records to gather information relating to real estate titles; (2) preparing documents necessary for the transfer of the title, financing, and settlement; (3) conducting final real estate settlements and closings; and (4) filing legal and other documents relating to the sale of real estate. Real estate settlement offices, title abstract companies, and title search companies are included in this industry.
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Establishments of lawyers and attorneys primarily engaged in the practice of law | 541110 Offices of Lawyers |
| Underwriting or acting as agents in selling real estate title insurance policies | 524 Insurance Carriers and Related Activities |
| Providing real estate escrow and fiduciary services | 531390 Other Activities Related to Real Estate |
Index entries (4)
- Settlement offices, real estate
- Title abstract companies, real estate
- Title companies, real estate
- Title search companies, real estate