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Prop. Code § 5.077(d)(1); Failure by a Seller to transfer legal, recorded title to the property within 30 days after receiving the Buyer's final payment in violation of Prop. Code § 5.079, gives rise to liquidated damages of $250/day for days 31-90 (following receipt of final payment) and $500/day thereafter.

Contracts for deed and leases combined with an option to purchase residential property are strictly regulated in Texas by Subchapter D of Chapter 5 of the Texas Property Code (hereinafter “Subchapter D”).

If you've paid more than 40% or made more than 48 payments, or if you recorded your contract in the property records and you defaulted on payment after Sept. 1, 2015, you have the right to cure within 60 days of the notice. If not, the seller can post, file, and serve notice of sale as a foreclosure.

The long-term purchase contract requires the buyer to make monthly or other periodic payments over a long period of time. The contract provides that the seller will deed the property to the buyer after the buyer completes all payments. History of Contract-for-Deed Law in Texas.

Prop. Code § 5.077(d)(1); Failure by a Seller to transfer legal, recorded title to the property within 30 days after receiving the Buyer's final payment in violation of Prop. Code § 5.079, gives rise to liquidated damages of $250/day for days 31-90 (following receipt of final payment) and $500/day thereafter.

Record (file) your contract for deed in the deed records of the county where the property is located. Once recorded, the contract is treated the same as warranty deed with a vendor's lien. If you get behind on payments, the seller must post, file, and serve notice of sale as a foreclosure before you can be removed.

Under Texas law, a forged deed is void. However, a deed procured by fraud is voidable rather than void. The legal terms “Void” and “Voidable” sound alike, but they are vastly different. A void instrument passes no title, and is treated as a nullity.

In a Contract to Sell the seller retains ownership over the property until the buyer fully pays the purchase price. Once the purchase price is fully paid the seller delivers the property to the buyer and transfers ownership over the same to the buyer by executing a Deed of Sale.

If the seller breaches, then the buyer can sue for compensation, return of their good-faith deposit, and reasonable expenses. The buyer can also request that the contract be terminated.

Until the unrecord deed is processed, and title transferred, the holders of the title still own the property. They can mortgage the property or sell it. The plan for the children to receive and record the deed may not have legal authority.

Prop. Code § 5.077(d)(1); Failure by a Seller to transfer legal, recorded title to the property within 30 days after receiving the Buyer's final payment in violation of Prop. Code § 5.079, gives rise to liquidated damages of $250/day for days 31-90 (following receipt of final payment) and $500/day thereafter.

Contracts for deed and leases combined with an option to purchase residential property are strictly regulated in Texas by Subchapter D of Chapter 5 of the Texas Property Code (hereinafter “Subchapter D”).

If you've paid more than 40% or made more than 48 payments, or if you recorded your contract in the property records and you defaulted on payment after Sept. 1, 2015, you have the right to cure within 60 days of the notice. If not, the seller can post, file, and serve notice of sale as a foreclosure.

The long-term purchase contract requires the buyer to make monthly or other periodic payments over a long period of time. The contract provides that the seller will deed the property to the buyer after the buyer completes all payments. History of Contract-for-Deed Law in Texas.

Prop. Code § 5.077(d)(1); Failure by a Seller to transfer legal, recorded title to the property within 30 days after receiving the Buyer's final payment in violation of Prop. Code § 5.079, gives rise to liquidated damages of $250/day for days 31-90 (following receipt of final payment) and $500/day thereafter.

Record (file) your contract for deed in the deed records of the county where the property is located. Once recorded, the contract is treated the same as warranty deed with a vendor's lien. If you get behind on payments, the seller must post, file, and serve notice of sale as a foreclosure before you can be removed.

Under Texas law, a forged deed is void. However, a deed procured by fraud is voidable rather than void. The legal terms “Void” and “Voidable” sound alike, but they are vastly different. A void instrument passes no title, and is treated as a nullity.

In a Contract to Sell the seller retains ownership over the property until the buyer fully pays the purchase price. Once the purchase price is fully paid the seller delivers the property to the buyer and transfers ownership over the same to the buyer by executing a Deed of Sale.

If the seller breaches, then the buyer can sue for compensation, return of their good-faith deposit, and reasonable expenses. The buyer can also request that the contract be terminated.

Until the unrecord deed is processed, and title transferred, the holders of the title still own the property. They can mortgage the property or sell it. The plan for the children to receive and record the deed may not have legal authority.