Guaranty Fee Reinstated as of May 1
First Quarterly Remittance Due Aug. 1
in January and reported in Dateline, the Texas Title Insurance Guaranty Association (TTIGA) board voted to reinstate the Guaranty Fee at $2 per policy for each owner and lender title insurance policy closed on or after May 1, 2019
Collection of the Guaranty Fee was also required at select times from 2004 to 2017. Since Dec. 31, 2017, no Guaranty Fees should have been collected.
Whether or not the Guaranty Fee should be charged is determined by the closing date of applicable transactions, not the funding date. The $2 Guaranty Fee must be charged for any policy closed on or after May 1, 2019. Collection of the fee should continue through Dec. 31, 2019.
These fees should be remitted to TTIGA quarterly, and the first remittance is due Aug. 1, 2019.
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