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

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

Name: Franklin 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:

Franklin

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

Can you eliminate a vendor's lien? The easiest way to remove a vendor's lien is to pay it off. There are some liens that can be removed because of mis-classification and because of homestead law. Contact us to see if you are liens or judgments can be removed without payment.

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.

Under Section 53.171(c) of the Texas Property Code, a mechanic's lien can be discharged with a bond even after the dispute has arisen and the lien has been filed. The bond must be substantially higher than the lien amounts.

Judgment liens in Texas expire after ten years, as do federal tax liens, and both stay attached to the property even it if changes owners. A mortgage lien remains valid on a property until the debt is paid in full. Also, many liens may be renewed before they expire.

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.

Add or Remove a Lien on a Vehicle To add or remove a lien on your vehicle title, visit your local county tax office. The title fee is $28 or $33, depending on your county, and must be paid at time of application. Please contact your local county tax office for the exact cost.

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.

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When not recognizable as a warranty deed or quit claim deed, then all. RESPONSIBILITIES OF BUYERS OR GRANTEES AND GRANTORS .Appendix H: Warranty Deed From Trust to Blaine and Shirley. 1972) (seller retained vendor's lien,. Liens and leases that affect the title to the land, but that are subordinate to the lien of the insured mortgage. The remainder of the deed was in the regular form of a warranty deed. Superintendent of the Department of Financial Services up to and including January 14, 2021. TIRSA.

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

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