Texas Codes

Tex. Ins. Code § 2501.006 (2026)

Closing The Transaction

✓ current as of May 2026

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Sec. 2501.006. CLOSING THE TRANSACTION. (a) For purposes of this title, "closing the transaction" describes the investigation that is made:

(1) on behalf of a title insurance company, title insurance agent, or direct operation before the title insurance policy is issued; and

(2) to determine proper execution, acknowledgment, and delivery of all conveyances, mortgage papers, and other title instruments necessary to consummate a transaction.

(b) Closing the transaction includes a determination that:

(1) all delinquent taxes have been paid;

(2) in the case of an owner title insurance policy, all current taxes, based on the latest available information, have been properly prorated between the purchaser and seller;

(3) the consideration has been passed;

(4) all proceeds have been properly disbursed;

(5) a final search of the title has been made; and

(6) all necessary papers have been filed for record.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.

Notes of Decisions

Cited in 4 cases, 2007–2019 · leading case: Texas Dep't of Ins. v. Reconveyance Servs., Inc., 240 S.W.3d 418 (Tex. App. 2007).

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Texas Dep't of Ins. v. Reconveyance Servs., Inc., 240 S.W.3d 418 (Tex. App. 2007). · cites it 4× “See Tex. Ins.Code Ann. § 2501.006; see also Basic Manual Procedural Rule P-1(f).”

Texas Dep't of Ins. v. Reconveyance Servs., Inc. (Tex. App. 2007). · cites it 2× “See Tex. Ins. Code Ann. § 2501.006 ; see also Basic Manual Procedural Rule P-1(f).”

Tyler Title Co., LLC D/B/A East Texas Title Co. v. Lisa Cowley (Tex. App. 2019). “TEX. INS. CODE ANN. § 2501.006(a) (West 2009).”

Texas Dep't of Ins. v. Reconveyance Servs., Inc. (Tex. App. 2007). “See Tex. Ins. Code Ann. § 2501.006 ; see also Basic Manual Procedural Rule P-1(f).”

— Tex. Ins. Code § 2501.006(a) — 1 case

Tyler Title Co., LLC D/B/A East Texas Title Co. v. Lisa Cowley (Tex. App. 2019). “TEX. INS. CODE ANN. § 2501.006(a) (West 2009).”

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