What does WD with vendor's lien mean?

A warranty deed is an agreement of ownership of a property. It is a guarantee the property is free and clear in title. A warranty deed with a vendor's lien is a warranty deed with an encumbrance on the property (lien). This is a security for an unpaid debt of ownership. It is a form of security to the original owner.

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

Cuyahoga Ohio Subordination of Vendor's Lien Retained by Grantor in Warranty Deed

Name: Cuyahoga Ohio Subordination of Vendor's Lien Retained by Grantor in Warranty Deed
Brand: US Legal Forms
Rating: 4.66 (468 reviews)

Category:

Oil Gas and Minerals - Subordination

State:

Multi-State

County:

Cuyahoga

Control #:

US-OG-138

Format:

Instant download

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.

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FAQ

A special warranty deed guarantees two things: The grantor owns, and can sell, the property; and the property incurred no encumbrances during his ownership.

The most common type of deed used in Texas is a general warranty deed. This type of deed guarantees the title comes without any liens, easements, or other title problems. A general warranty deed also assures the buyer that there will be no issues with the title.

In Texas when a vendor sells property and there is unpaid purchase price, a vendor's lien arises against the property to secure the payment of the unpaid purchase price. An express ven- dor's lien can be reserved in the deed and/or in the real estate lien note.

A purchase money mortgage, or seller financing, is a type of vendor's lien in which a seller has the right to repossess a piece of real estate from a delinquent buyer. It is commonly used when a buyer has poor credit and cannot secure a loan from a bank or other lending institution.

A warranty deed is an agreement of ownership of a property. It is a guarantee the property is free and clear in title. A warranty deed with a vendor's lien is a warranty deed with an encumbrance on the property (lien). This is a security for an unpaid debt of ownership. It is a form of security to the original owner.

Both a warranty deed and deed of trust are used to transfer the title of a property from one person to another. However, the difference between these two contracts is who is protected. As you now know, a deed of trust protects the beneficiary (lender). A warranty deed, on the other hand, protects the property owner.

A Warranty Deed With Vendor's Lien contains the Seller's guarantees of a warranty deed but with a lien. This deed is part of a seller finance package of documents. It is a transfer of real estate property where a lien for the unpaid purchase price in favor of the Seller is retained.

Warranty deed (WD): A warranty deed is a type of deed where the grantor (seller) guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee (buyer).

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Warranties contained in the deed will continue after closing. After all, we were running out of oil and gas.Fill out the table below identifying the current and proposed configuration of dialysis stations. Note – an exempt isolation station.

Cuyahoga Ohio Subordination of Vendor's Lien Retained by Grantor in Warranty Deed

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What does the grantor promise in a special warranty deed?

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What is the purpose of a vendor's lien in Texas?

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What does WD with vendor's lien mean?

What is the difference between a warranty deed and a deed of trust?

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What does WD mean in deeds?

Interesting Questions

What is a Cuyahoga Subordination of Vendor's Lien Retained by Grantor in Warranty Deed953552?

Why would a seller retain a lien on a property through Cuyahoga Subordination of Vendor's Lien?

What happens if a buyer fails to fulfill their obligations in Cuyahoga Subordination of Vendor's Lien?

Can the seller sell or transfer the property while retaining the lien through Cuyahoga Subordination of Vendor's Lien?

Can the buyer sell the property before fulfilling their obligations in Cuyahoga Subordination of Vendor's Lien?

How long does the lien remain attached to the property in Cuyahoga Subordination of Vendor's Lien?

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