Texas Insurance Code 2702.003 – Effect of Failure to Issue Insured Closing and Settlement Letter
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Terms Used In Texas Insurance Code 2702.003
- 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.
The failure of a title insurance company to issue an insured closing and settlement letter does not affect the company’s liability under an issued title insurance policy.