| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to charges at closing of certain real property |
|
|
transactions. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Chapter 2501, Insurance Code, is amended by |
|
|
adding Section 2501.008 to read as follows: |
|
|
Sec. 2501.008. THIRD-PARTY CHARGES. A title insurance |
|
|
company, title insurance agent, or direct operation may charge, |
|
|
separate from the title insurance premium, any actual costs |
|
|
incurred in connection with a closing and settlement, including: |
|
|
(1) a charge by a third party, such as a governmental |
|
|
entity, for an electronic filing fee; or |
|
|
(2) a fee of a third party for a service rendered or |
|
|
performed. |
|
|
SECTION 2. This Act applies only to a real property |
|
|
transaction that closes on or after the effective date of this Act. |
|
|
A real property transaction that closes before the effective date |
|
|
of this Act is governed by the law as it existed immediately before |
|
|
the effective date of this Act, and that law is continued in effect |
|
|
for that purpose. |
|
|
SECTION 3. This Act takes effect January 1, 2010. |