OK, so I created a level 1 and joined some friends in act 2, soon as I entered the town I noticed that I got town portal and so I left the game and created my own game with the first quest and I tested the portal and it worked. So I think this is great because my bags always fill up before completing Leoric's crown quest, which I believe is where you get the Town Portal after completion.
Now the question is, is this working as intended? I don't think so : ) Enjoy : )