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In Texas, the seller traditionally pays for title insurance. Your coverage will protect you against errors in the public record, undisclosed liens, and forgery.
How much is a title policy in Texas? The cost of a title policy in Texas can range from 0.9% to 0.6% of the property value.
Procedural Rule P-24 provides guidelines for title companies to use when negotiating the portion of the title premium to be paid to another title company for: (1) furnishing title evidence and/or (2) examining title and/or (3) closing the transaction.
Good funds in an amount equal to all disbursements must be received and deposited before any disbursement may be made. Partial disbursements, prior to the receipt and deposit of good funds, are not permitted.
Under Procedural Rule P-35 escrow officers must take caution to avoid issuing or delivering any form of verbal or written guaranty, affirmation, indemnification, or certificate of any fact, insurance coverage or conclusion of law.