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In 2015, Texas law was changed to automatically place the legal title to the property with the buyer by filing the contract with the deed records office of the county where the property is located. While the seller loses title, the seller retains a vendor's lien in the property for the outstanding balance of the contract. [3]
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
In property law, a condition subsequent is an event which terminates a party's interest in a property. [6] When land rights are subject to a condition subsequent, this creates a defeasible fee called a fee simple subject to condition subsequent. In such a fee, the future interest is called a "right of reentry" or "right of entry." There, the ...
A deed of reconveyance is proof that the property is fully paid for and ownership has been transferred to the borrower. The lender no longer has a claim to the property. Can I request a deed of ...
The term "reservation of rights" (particularly a "reservation of rights letter”) is often used in connection with insurance claims. The insurance company issues a reservation of rights letter stating that it may deny coverage for some or all of the claim even while the company is investigating the claim or beginning to treat the claim as if ...
In some cases property owners can petition a court to remove or modify the covenants, and homeowner associations may include procedures for removing the covenants. The covenant may be negative or affirmative. A negative covenant is one in which property owners are unable to perform a specific activity, such as block a scenic view.