Texas Insurance Code 2704.002 – Direct Issuance of Policy or Contract
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Terms Used In Texas Insurance Code 2704.002
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
A title insurance company may directly issue a title insurance policy or contract based on the best title evidence available if:
(1) a title insurance agent or direct operation does not exist for the county in which the real property is located; or
(2) each title insurance agent and direct operation for that county refuses to provide title evidence:
(A) in a reasonable period as determined by the department; and
(B) in compliance with Section 2502.053(1).