Texas Insurance Code 2502.004 – Guarantee of Mortgage Payment Prohibited
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(a) A title insurance company may not guarantee the payment of a mortgage on real property.
(b) A title insurance company that violates this section forfeits its authority to engage in business in this state and shall immediately surrender its certificate of authority.
Terms Used In Texas Insurance Code 2502.004
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.