Texas Warranty Deed with Vendor's Lien
Transfer ownership of a real estate property in Texas from a seller to a buyer with this Warranty Deed with Vendor's Lien.
Purpose of Deed
The Warranty Deed gives the seller (the vendor) a lien over the property under a promissory note signed by the buyer and held by the vendor.
Key Provisions
- The seller can assign its vendor's lien to a mortgage lender after the promissory note is paid out of the proceeds of a new mortgage.
- The lender, who holds the promissory note and deed of trust, will retain superior title to the property until the loan is paid by the buyer.
- The form can also be used to place a lien by a third party lender.
Format and Jurisdiction
The form is available in MS Word format and is easy to use. It is governed by Texas law and is intended to be used only in the State of Texas.
Purchase Money Promissory Note for Real Estate Purchase
If you are selling a real estate property and allowing the buyer to pay the purchase price over time, make sure the buyer signs this Purchase Money Promissory Note.
- Having a signed promissory note in place makes you a secured creditor if the buyer becomes bankrupt or insolvent.
- The buyer will pay off the balance of the purchase price in regular installments, rather than having to come up with all of the purchase money in order to close the sale.
- The Note contains an acceleration clause, meaning if the maker defaults in a payment, the entire balance together with interest becomes immediately due and payable.
- Get the Purchase Money Promissory Note signed at the same time that the other documents for the real estate purchase are executed by the buyer.
Texas General Warranty Deed Form
Transfer a Texas real estate property from a seller to a buyer with this easy-to-use General Warranty Deed form.
What is a general warranty deed?
A warranty deed is a legal document that transfers ownership of a real estate property from the seller to the buyer. A general warranty deed provides the buyer with the broadest protection of any form of title deed.
Covenants of Seller (Grantor)
The seller (the grantor) gives the buyer (the grantee) the following covenants:
- that the grantor has good and marketable title to the property,
- that the grantor has the right and power to transfer the title to the grantee, and
- that the grantor will forever defend the grantee's right to possession of the property.
Format and Legal Jurisdiction
The Warranty Deed form is available as a downloadable legal document in MS Word format. It is intended to be used only in the State of Texas.
Wraparound Promissory Note | USA
This template Promissory Note is part of a wraparound mortgage loan on a U.S. real estate property.
- The wraparound note is secured by either a mortgage or deed of trust (this will depend on which state the property is located in). The template contains language for both.
- A wraparound mortgage is a form of seller financing. The seller (holder of the note) continues to make the payments on the original underlying mortgage, and the buyer (borrower) will make payments under the Wraparound Note to the seller.
- This template contains additional provisions as to how any prepayments will be applied, in the event that the buyer is allowed to prepay the balance of the Note.
- The form can be in any State where wraparound mortgages are allowed by law.
To download the USA Wraparound Promissory Note, add it to your cart and pay for it over our secure checkout system.
Texas Release of Vendor's Lien
Discharge a vendor's lien against a real estate property in Texas with this Release of Lien form.
Purpose of the Release of Lien Form
The Release of Vendor's Lien form is used to release a vendor's lien against a real estate property after:
- the purchaser of the property has paid the balance of the purchase price, and
- the promissory notes securing the balance have been canceled by the vendor (seller).
How to File the Release of Lien
After the Release of Vendor's Lien form is completed and signed, it must be recorded with the County Recorder's Office by the seller (or the seller's agent).
Format and Jurisdiction
The document is available in MS Word format. It is intended to be used only in the State of Texas.