Texas Insurance Code 2501.008 – Third-Party Charges
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Terms Used In Texas Insurance Code 2501.008
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
A title insurance company, title insurance agent, or direct operation may charge, separate from the title insurance premium, actual costs or a reasonable estimate of costs incurred in connection with a closing and settlement, including:
(1) a charge by a third party for an electronic filing fee; or
(2) a fee of a third party for the provision of an ad valorem tax report.