{"data":{"id":"us-tx/tex.-insurance-code-2501.006","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 2501.006","heading":"CLOSING THE TRANSACTION.","body":"(a) For purposes of this title, \"closing the transaction\" describes the investigation that is made:\n(1) on behalf of a title insurance company, title insurance agent, or direct operation before the title insurance policy is issued; and\n(2) to determine proper execution, acknowledgment, and delivery of all conveyances, mortgage papers, and other title instruments necessary to consummate a transaction.\n(b) Closing the transaction includes a determination that:\n(1) all delinquent taxes have been paid;\n(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;\n(3) the consideration has been passed;\n(4) all proceeds have been properly disbursed;\n(5) a final search of the title has been made; and\n(6) all necessary papers have been filed for record.\nAdded by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.","path":["INSURANCE CODE","TITLE 11. TITLE INSURANCE","SUBTITLE A. GENERAL PROVISIONS","CHAPTER 2501. GENERAL PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2501.htm#2501.006","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"85f8ffdc96d9899d19adac6aa6864c451c874abbfb80bfbb0d7b384b274895e7","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-2501.005","next":"us-tx/tex.-insurance-code-2501.007"},"notice":"GroundRules: Original legal text. Not legal advice."}