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

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

Name: Orange California 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:

Orange

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.

Affidavit by an Attorney-in-Fact in the Ca...

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The three most common types of deeds are: General Warranty Deeds; Limited Warranty Deeds; and, Non-Warranty Deeds.

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.

A security interest or legal right acquired in one's property by a creditor. A lien generally stays in effect until the underlying obligation to the creditor is satisfied. If the underlying obligation is not satisfied, the creditor may be able to take possession of the property involved.

A vendee's lien is a common law device created as an equitable remedy to protect purchasers of real property in the event the seller defaults or does not perform according to the real estate contract.

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.

Land contracts, or contracts for deed, are a security agreement between a seller, called a Vendor, and a buyer, called a Vendee: The Vendor agrees to sell a property by financing the purchase for the Vendee. The Vendor retains legal title and the Vendee receives equitable title.

A vendor's lien deed is also called a warranty deed with a vendor's lien. It goes by a few different terms. Each term combines two functions: that of a warranty deed and that of a vendor's lien.

The statutes of limitation for collecting (or foreclosing) on both the vendor's lien and deed of trust is four years in Texas. If no legal action has been filed for collection on the liens for four years after the liens ma- ture, there is indication the liens have been paid.

A vendee's lien is an equitable lien created by the courts as a remedy to protect purchasers of real property when the seller cannot perform under the contract. The bank decides to fund construction and records a deed of trust lien on the entire development.

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Execute legal documents and perform other powers on behalf of Grantor. On the other hand, a deed is a legal document used to confirm or convey the ownership rights to a property.Who are the parties listed in a deed of trust? IC 32-17-1-4Lineal and collateral warranties; abolition. Sec. 4. A defect in a notice of lending does not subordinate the lender's building loan mortgage to mechanic's liens. Originally "strict," with the lender simply retaining title to the land if the borrower did not redeem prior to foreclosure. Liens and leases that affect the title to the land, but that are subordinate to the lien of the insured mortgage. Administrative Services Consent. Arrears: Not on time; late in making payments or completing work. Minnesota: Citizens.

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

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