CUSIP
No.
461804106
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1. NAME
OF REPORTING PERSONS
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
James
A. Fine, Jr.
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2. CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
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3. SEC
USE ONLY
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4. CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States of America
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NUMBER
OF 5. SOLE VOTING
POWER
SHARES
82,901
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BENEFICIALLY 6. SHARED
VOTING POWER
OWNED
BY
95,515
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EACH 7. SOLE
DISPOSITIVE POWER
REPORTING
82,901
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PERSON 8. SHARED
DISPOSITIVE POWER
WITH
95,515
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9. AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
178,416
(1)
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10. CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
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11. PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.40%
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12. TYPE
OF REPORTING PERSON*
IN
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*SEE
INSTRUCTIONS BEFORE FILLING OUT!
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(1)
95,000
of these shares are held by a limited partnership of which Mr. Fine
is a
general partner and shares joint voting power over such shares with
William Morris Fine. Additionally, this number includes 515
shares that are held by his wife.
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ITEM
1(a). NAME OF ISSUER:
Investors
Title Company
ITEM
1(b). ADDRESS OF ISSUER'S PRINCIPAL PLACE OR EXECUTIVE
OFFICES:
121
N. Columbia Street
Chapel
Hill, North Carolina 27514
ITEM
2(a). NAME OF PERSON FILING:
James
A. Fine, Jr.
ITEM
2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE,
RESIDENCE:
121
N. Columbia Street
Chapel
Hill, North Carolina 27514
ITEM
2(c). CITIZENSHIP:
United
States of America
ITEM
2(d). TITLE OF CLASS OF SECURITIES:
Common
Stock, no par value (the "Common Stock")
ITEM
2(e). CUSIP NUMBER:
461804106
ITEM
3.
Not
Applicable
ITEM
4. OWNERSHIP:
(a)
AMOUNT
BENEFICIALLY OWNED:
178,416
(1)
(b)
PERCENT
OF CLASS:
7.40%
(c)
NUMBER OF
SHARES AS TO WHICH SUCH PERSON HAS:
(i)
Sole
power to vote or to direct the vote:
82,901
(ii)
Shared
power to vote or to direct the vote:
95,515
(iii)
Sole
power to dispose or to direct the disposition of:
82,901
(iv)
Shared
power to dispose or to direct the disposition of:
95,515
(1)
95,000
of these shares are held by a limited partnership of which Mr. Fine is a general
partner and shares joint voting power over such shares with William Morris
Fine. Additionally, this number includes 515 shares that are held by
his wife.
ITEM
5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
If
this
statement is being filed to report the fact that as of the date hereof the
reporting person has ceased to be the beneficial owner of more than 5 percent
of
the class of securities, check the following |_|
ITEM
6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
Not
Applicable
ITEM
7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED
THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
Not
Applicable
ITEM
8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
GROUP:
Not
Applicable
ITEM
9. NOTICE OF DISSOLUTION OF THE GROUP:
Not
Applicable
ITEM
10. CERTIFICATION:
By
signing
below I certify that, to the best of my knowledge and belief, the securities
referred to above were not acquired and are not held for the purpose of or
with
the effect of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection with or as
a
participant in any transaction having that purpose or effect.
SIGNATURE
After
reasonable inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and
correct.
Dated: February
1, 2008
Chapel Hill, North Carolina
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/s/
James A. Fine, Jr.
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James
A. Fine, Jr.
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End
of Filing