Get General Warranty Deed with Vendor's Lien - Individual to Individual

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2016 U.S. Legal Forms, Inc.TEXAS WARRANTY DEED WITH VENDORS LIEN [Individual to Individual]Control Number: TX06678I. TIPS ON COMPLETING THE FORMSThe form(s) in this packet may contain form fields
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FAQ

A vendor's lien is the right of a seller to repossess the property sold until the buyer makes all payments for the full purchase price. ... A purchase-money mortgage is a note secured by a mortgage or deed of trust given by a buyer, as borrower, to a seller, as lender, as part of the purchase price of the real estate.

This General Warranty Deed with Vendor's Lien form is used to convey real property located in Texas, and any improvements thereon, from the grantor to the grantee. ... This particular deed form also provides language for a vendor's lien, which will run in favor of the party providing the financing for the transaction.

A vendor's lien is the right of a seller to repossess the property sold until the buyer makes all payments for the full purchase price. The property is the collateral given as security to the seller for the purchase price. It is sometimes used in connection with a purchase money mortgage on real estate.

In a Warranty Deed with Lien Covenant, the Grantor is guaranteeing the Grantee that no outstanding liens on the property exist and, if such liens were to appear, then it would be the duty of the Grantor to satisfy that lien. A Warranty Deed with Lien Covenant is commonly used in New York.

A Warranty Deed is a real estate document used when a property owner (grantor) transfers land to a buyer (grantee), and wishes to make a guarantee that the property is free and clear of any encumbrances, like a lien or mortgage.

They serve different purposes and are signed by different parties. The warranty deed transfers the property's ownership from the current owner to the new buyer, while the deed of trust ensures the lender has interest in the property in the event a buyer defaults on the loan.

As the price for an immovable, a purchaser assumed payment of the seller's debt that was secured by an existing mortgage that the seller had granted a year earlier. ... [The vendor's privilege] is a guarantee which attaches so tenaciously to the nature of the contract of sale on term, Copyright 2015, by L. DAVID CROMWELL.

A marketable title is a title that the vendor does in fact have and that is not subject to encumbrances, which are interests in the property held by someone other than the vendor or purchaser. ... If the vendor's title is subject to an outstanding mortgage, the title may be unmarketable.

The relationship between the seller and the buyer has traditionally been labeled that of vendor and purchaser. A contract to sell real property (for example, a house, a building, farmland, or a vacant lot) does not automatically mean the sale will be consummated.

A vendor's statement – also known as section 32 – is a document that tells potential buyers certain things about the property title they should know before signing a contract to purchase.