This form is a General Warranty Deed where the Grantor is an individual and the Grantee is an individual. Grantor conveys and generally warrants the described property to the grantee. The deed includes provision for a vendor's lien. This deed complies with all state statutory laws.
A Collin Texas General Warranty Deed with Vendor's Lien — Individual to Individual is a legal document used in real estate transactions where an individual is selling a property to another individual in Collin County, Texas. This type of deed provides certain important assurances and protections to the buyer regarding the property's ownership and condition. The term "general warranty deed" refers to the type of warranty given by the seller to the buyer. In this case, it guarantees that the seller holds legal title to the property and has the right to sell it. It also guarantees that the property is free from any encumbrances or defects in title, except for any specifically noted in the deed. The inclusion of a "vendor's lien" in the deed means that the seller retains a lien on the property until the purchase price is fully paid. This serves as a form of security for the seller in case the buyer defaults on the payment. It allows the seller to potentially foreclose on the property and recover the outstanding balance. There may be variations of the Collin Texas General Warranty Deed with Vendor's Lien — Individual to Individual, such as: 1. Collin Texas General Warranty Deed with Vendor's Lien — Individual to Individual (Full Payment): This type of deed is used when the buyer pays the full purchase price at the time of the transfer. Once the payment is made, the vendor's lien is released, and the buyer becomes the sole owner of the property. 2. Collin Texas General Warranty Deed with Vendor's Lien — Individual to Individual (Installment Payments): This variation is used when the purchase price is paid in installments over a specific period. The vendor's lien remains in place until the final payment is made, at which point it is released, and the buyer obtains full ownership. When drafting or reviewing a Collin Texas General Warranty Deed with Vendor's Lien — Individual to Individual, it is crucial to seek guidance from a qualified real estate attorney to ensure all necessary provisions are included and the transaction is legally sound.A Collin Texas General Warranty Deed with Vendor's Lien — Individual to Individual is a legal document used in real estate transactions where an individual is selling a property to another individual in Collin County, Texas. This type of deed provides certain important assurances and protections to the buyer regarding the property's ownership and condition. The term "general warranty deed" refers to the type of warranty given by the seller to the buyer. In this case, it guarantees that the seller holds legal title to the property and has the right to sell it. It also guarantees that the property is free from any encumbrances or defects in title, except for any specifically noted in the deed. The inclusion of a "vendor's lien" in the deed means that the seller retains a lien on the property until the purchase price is fully paid. This serves as a form of security for the seller in case the buyer defaults on the payment. It allows the seller to potentially foreclose on the property and recover the outstanding balance. There may be variations of the Collin Texas General Warranty Deed with Vendor's Lien — Individual to Individual, such as: 1. Collin Texas General Warranty Deed with Vendor's Lien — Individual to Individual (Full Payment): This type of deed is used when the buyer pays the full purchase price at the time of the transfer. Once the payment is made, the vendor's lien is released, and the buyer becomes the sole owner of the property. 2. Collin Texas General Warranty Deed with Vendor's Lien — Individual to Individual (Installment Payments): This variation is used when the purchase price is paid in installments over a specific period. The vendor's lien remains in place until the final payment is made, at which point it is released, and the buyer obtains full ownership. When drafting or reviewing a Collin Texas General Warranty Deed with Vendor's Lien — Individual to Individual, it is crucial to seek guidance from a qualified real estate attorney to ensure all necessary provisions are included and the transaction is legally sound.
