Bexar Texas Subordination of Vendor's Lien Retained by Grantor in Warranty Deed

• Category: Oil Gas and Minerals - Subordination
• State: Multi-State
• County: Bexar
• Control #: US-OG-138
• Format: Word; Rich Text

Description

If a person has purchased land, and the grantor in the deed reserves a vendors lien, that lien is superior to any subsequent grants by the owner of the land, including any oil and gas lease entered into at a later date. This form provides for the lien holder to subordinate a retained vendor's lien to an oi land gas lease on the lands that are the subject of the vendor's lien. Bexar County, located in Texas, allows for the retention of a vendor's lien by the granter in a warranty deed. This legal provision, known as the "Subordination of Vendor's Lien Retained by Granter in Warranty Deed," ensures the granter retains a lien on the property until specific conditions are met. This lien serves as security for any unpaid purchase money or other debts owed by the granter. In Bexar County, there are different types of subordination of vendor's lien retained by granter in warranty deed that are commonly used: 1. Partial Subordination: This type of subordination allows the granter to retain a vendor's lien on the property, but only for a portion of the total purchase price. It provides flexibility to the parties involved, allowing for partial payment and security against any remaining debts. 2. Time-Limited Subordination: In this case, the vendor's lien retained by the granter is subordinated for a specific period of time. The lien will be released once the agreed-upon timeframe expires or when the specific conditions outlined in the warranty deed are met, such as the full payment of the purchase price. 3. Performance-Based Subordination: This subtype of subordination typically applies when the granter agrees to subordinate the vendor's lien based on certain conditions or performance benchmarks. For example, the lien may be released upon the completion of specific improvements or repairs to the property by the granter. 4. Conditional Subordination: Another type of subordination commonly found in Bexar County is the conditional subordination of vendor's lien. This type allows for the lien to be released when certain conditions listed in the warranty deed are met. These conditions may include the full payment of the purchase price, clearing of any outstanding liens, or the completion of agreed-upon improvements. It is important to note that the specific terms and conditions of the subordination of vendor's lien retained by granter in warranty deed may vary depending on the agreement between the parties involved, their intentions, and the specific circumstances of the transaction. It is always advisable to seek legal counsel to ensure compliance with local laws and to draft a comprehensive and enforceable agreement.

Bexar County, located in Texas, allows for the retention of a vendor's lien by the granter in a warranty deed. This legal provision, known as the "Subordination of Vendor's Lien Retained by Granter in Warranty Deed," ensures the granter retains a lien on the property until specific conditions are met. This lien serves as security for any unpaid purchase money or other debts owed by the granter. In Bexar County, there are different types of subordination of vendor's lien retained by granter in warranty deed that are commonly used: 1. Partial Subordination: This type of subordination allows the granter to retain a vendor's lien on the property, but only for a portion of the total purchase price. It provides flexibility to the parties involved, allowing for partial payment and security against any remaining debts. 2. Time-Limited Subordination: In this case, the vendor's lien retained by the granter is subordinated for a specific period of time. The lien will be released once the agreed-upon timeframe expires or when the specific conditions outlined in the warranty deed are met, such as the full payment of the purchase price. 3. Performance-Based Subordination: This subtype of subordination typically applies when the granter agrees to subordinate the vendor's lien based on certain conditions or performance benchmarks. For example, the lien may be released upon the completion of specific improvements or repairs to the property by the granter. 4. Conditional Subordination: Another type of subordination commonly found in Bexar County is the conditional subordination of vendor's lien. This type allows for the lien to be released when certain conditions listed in the warranty deed are met. These conditions may include the full payment of the purchase price, clearing of any outstanding liens, or the completion of agreed-upon improvements. It is important to note that the specific terms and conditions of the subordination of vendor's lien retained by granter in warranty deed may vary depending on the agreement between the parties involved, their intentions, and the specific circumstances of the transaction. It is always advisable to seek legal counsel to ensure compliance with local laws and to draft a comprehensive and enforceable agreement.