Section 12: Title Company's Closing StatementAnchor: #i1002086
When requesting payment for title insurance policy services, the title company must furnish TxDOT with a signed closing statement detailing the disposition of the proceeds from the State's warrant. The statement must note if the proceeds of the warrant are not disposed of and some money is retained in trust. Subsequently, when the money is disposed of, a supplemental statement must be furnished. These statements must show:
- the amounts paid for settlement of liens, mortgages, taxes, and any other encumbrances;
- the title policy fee;
- the fee charged for any additional services; and
- the net amount paid to the grantor.
These statements should also show the parcel number, right of way account number, State warrant number and amount, and the closing date.
A signed copy of the closing statement must be furnished to the former owner or grantor and one signed copy retained in the Department files. One signed copy of the closing statement must accompany the Department’s submission to the ROW Program Office of Form 132, Billing Statement, or ROW-A-15, Payment Request, as appropriate, requesting payment for title company services.