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 General Warranty Deed with Vendor's Lien is a legal document used to transfer ownership of real estate property in the city of Odessa, Texas, from one individual to another. This type of deed provides certain assurances and protections to the buyer (grantee) regarding the title of the property being transferred. It also includes a vendor's lien, which allows the seller (granter) to retain a security interest in the property until the buyer fulfills all payment obligations. In Odessa, Texas, there are different variations of the General Warranty Deed with Vendor's Lien — Individual to Individual, including: 1. General Warranty Deed with Vendor's Lien — Cash Sale: This type of deed is used when the buyer purchases the property with cash, and both parties agree to include a vendor's lien to secure the seller's interest in the property until the purchase price is fully paid. 2. General Warranty Deed with Vendor's Lien — Installment Sale: This variation is used when the buyer and seller agree upon an installment payment plan instead of a lump-sum purchase. The vendor's lien ensures that the seller retains a security interest in the property until all agreed-upon payments are made. 3. General Warranty Deed with Vendor's Lien — Assumption Sale: In this case, the buyer assumes an existing mortgage or loan on the property from the seller. The vendor's lien protects the seller's interest in the property until the buyer fulfills the assumption agreement. 4. General Warranty Deed with Vendor's Lien — Contract for Deed: This type of deed is commonly used when the buyer does not qualify for a traditional mortgage loan. The seller retains legal title to the property until the buyer completes all payments as per the terms of the contract. It is important to consult with a qualified attorney or real estate professional to ensure that the correct type of General Warranty Deed with Vendor's Lien is used based on the specific circumstances of the transaction in Odessa, Texas.
