Texas § IN.2501.006 - CLOSING THE TRANSACTION
Full text of Texas The Texas Constitution § IN.2501.006 — CLOSING THE TRANSACTION, with citation guidance and answers to common questions.
§ IN.2501.006. CLOSING THE TRANSACTION
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.
Frequently Asked Questions About Texas § IN.2501.006
What does The Texas Constitution § IN.2501.006 cover?
Section IN.2501.006 ("CLOSING THE TRANSACTION") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.2501.006?
A common citation format is "The Texas Constitution § IN.2501.006" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.2501.006 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.