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

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

Name: San Jose 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

City:

San Jose

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. San Jose, California is a vibrant city located in the heart of Silicon Valley. It is known for its thriving tech industry, diverse population, and beautiful surroundings. In real estate transactions, a subordination of vendor's lien retained by the granter in a warranty deed refers to a legal agreement between the seller (vendor) and the buyer (granter) regarding the priority of liens on a property. This agreement allows the seller to retain a lien while subordinating it to other liens that may arise in the future. There are two main types of San Jose, California subordination of vendor's lien retained by granter in warranty deed: 1. Subordination of Vendor's Lien to a Mortgage: This type of subordination occurs when the seller retains a lien on the property and agrees to subordinate it to the mortgage lien held by the buyer's lender. By doing so, the seller acknowledges that the mortgage lien takes priority over their vendor's lien. 2. Subordination of Vendor's Lien to a Construction Loan: In this case, the seller retains a lien on the property and agrees to subordinate it to a construction loan lien. This type of subordination is common when the buyer plans to use a construction loan to finance the development or improvement of the property. San Jose, California's subordination of vendor's lien retained by granter in warranty deed is a legally binding agreement that protects the rights and interests of both the buyer and the seller. It ensures that other liens, such as mortgages or construction loans, take priority over the vendor's lien, providing security to lenders and promoting a smooth transfer of property ownership.

San Jose, California is a vibrant city located in the heart of Silicon Valley. It is known for its thriving tech industry, diverse population, and beautiful surroundings. In real estate transactions, a subordination of vendor's lien retained by the granter in a warranty deed refers to a legal agreement between the seller (vendor) and the buyer (granter) regarding the priority of liens on a property. This agreement allows the seller to retain a lien while subordinating it to other liens that may arise in the future. There are two main types of San Jose, California subordination of vendor's lien retained by granter in warranty deed: 1. Subordination of Vendor's Lien to a Mortgage: This type of subordination occurs when the seller retains a lien on the property and agrees to subordinate it to the mortgage lien held by the buyer's lender. By doing so, the seller acknowledges that the mortgage lien takes priority over their vendor's lien. 2. Subordination of Vendor's Lien to a Construction Loan: In this case, the seller retains a lien on the property and agrees to subordinate it to a construction loan lien. This type of subordination is common when the buyer plans to use a construction loan to finance the development or improvement of the property. San Jose, California's subordination of vendor's lien retained by granter in warranty deed is a legally binding agreement that protects the rights and interests of both the buyer and the seller. It ensures that other liens, such as mortgages or construction loans, take priority over the vendor's lien, providing security to lenders and promoting a smooth transfer of property ownership.

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FAQ

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.

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 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 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.

Preliminary Change of Ownership Forms are available online at the Assessor web site or can be mailed to you upon request by calling the Assessor's office at (408) 299-5500.

A Texas warranty deed form allows Texas property owners to transfer real estate with a full warranty of title. A person who signs a warranty deed guarantees that he or she owns the property and has the right to convey clear title to the new owner.

As one of the most secure types of deeds, general warranty deeds are used in most real estate title transfers. General warranty deeds provide guarantees that the grantor has the right to sell the property and that the grantee will be receiving a title that is free of debt, claims, or other legal encumbrances.

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.

What Are Grantors And Grantees? There are two sides to a transaction. In real estate, a grantee is the recipient of the property, and the grantor is a person that transfers ownership rights of a property to another person. However, the specifics of their transaction may vary depending on the situation.

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.

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It subsists even if the vendor executes an outright transfer and parts with possession of the property (and if relevant the title deeds). The lien arises: •.EMC asserts that, as junior lienholder, the. Express vendor's lien. Who place orders directly with the vendors to replenish stock. To sell vehicles to residents of states where we are not licensed as a dealer, we generally conduct the transfer of title out of the state. Roadmap for this endeavor is outlined in the 2030 Guam Transportation Plan (GTP).

(a) Pursuant to the GTP, the express vendor may sell and issue, on his/her own account, to an assignee, any common stock that he or she holds after obtaining the Roadmap. This includes the express vendor's entire “total market value” on the date of the Roadmap. This includes “unlisted” common stock, which is valued in accordance with the valuation schedule as of the date of the Roadmap. If for any reason there exists a determination (see GTP Chapter 26) that the common stock is, but for the express vendor's sale of such common stock, then the lien holder(s) shall be notified, by certified mailing, of the determination, in addition to making the appropriate payment of their reasonable claim for unpaid common stock (including the cost of any taxes, fees, or assessments owed due to the determination). However, if the determination does not involve any such costs, the lien holder(s) are not entitled to collect any such costs.

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

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FAQ

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