Escrow for Timeshares Bond
An Escrow for Timeshares bond is required by the Texas Occupations Code section 7221.063 as a condition of licensure for those representing timeshare investments in the State of Texas. In addition, the escrow officer must hold an escrow officer license, and they must be appointed by direct operation or by a title insurance agent. If a timeshare owner fails to execute their duties according to state ordinances, they are liable to pay restitution. The bond must be issued by an authorized surety bond company and approved by the Texas Department of Insurance.
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