Section 13: Title Insurance Company’s Closing Statement
Anchor: #i1032784Procedure
When requesting payment for title insurance policy services, the title insurance company must furnish ROW PD 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:
- Anchor: #STDOXUGN
- the amounts paid for settlement of liens, mortgages, taxes, and any other encumbrances; Anchor: #XEHRGRUO
- the title insurance policy fee; Anchor: #RMEKPRYR
- the fee charged for any additional services; and Anchor: #GLDNKLLM
- 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.
Signed and date stamped copy of the closing statement, date stamped invoice, and recorded deed must accompany TxC payment submission or ROW PD's electronic submission to the ROW Program Office requesting payment for title insurance company services.