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Purchase Money Promissory Note for Real Estate Purchase
If you are selling a real estate property and allowing the buyer to pay part of the purchase price over time, secure payment of the outstanding balance with this Purchase Money Promissory Note.
- 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.
$6.29
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.
- 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.
- The vendor can assign the 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.
- Available in MS Word format.
- Intended to be used only in the State of Texas.
$6.49
Texas Deed of Trust
Transfer title of a Texas real estate property from a seller to a trustee with this Texas Deed of Trust form.
- A Deed of Trust can be substituted for a mortgage deed in the purchase of real estate property except for agricultural farm land.
- Title to the property is conveyed by the seller to a trustee instead of to the purchaser. The trustee holds the title as security to ensure the purchaser's performance of its obligations (including payment of the purchase price, maintenance and upkeep of the property, payment of taxes, etc).
- If the borrower defaults in payment, the balance becomes due and payable and the trustee may sell the property.
- The Deed of Trust contains uniform covenants regarding payments, funds for taxes and insurance, prior mortgages, hazard insurance, occupancy as principal residence, care and maintenance of the property, protection of the lender's security, and other standard clauses.
- The loan being secured by the Deed of Trust cannot be a home equity loan. The loan can be made to purchase property, to renew and extend an existing debt, or as a loan against non-homestead property.
- Available in MS Word format.
- Intended to be used only in the State of Texas.
$17.99