Date of Recording Documents Determines Rate That Will Be Effective May 1

As we've , a new rate chart reflecting the 3.8% rate adjustment will go into effect May 1. It's important to note that TLTA has verified with the Texas Department of Insurance (TDI) that the date of recording the documents, rather than the date of closing, should determine when you start charging the new rate.

According to Title Bulletin No. 152, the date of the policy should be shown as the date the related legal instruments were recorded with the county clerk's office. Based on this, TDI confirms that the new rate chart should be used to calculate the premium amount for any policies dated May 1 or later, and documents should be filed in the normal timely fashion.

The updated rate chart will be part of several upcoming changes to the Basic Manual. Now is a great time to sign your office up for our Basic Manual Online Update Service. Subscribers will automatically receive electronic updates as soon as they go into effect. Learn more about this service here.

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