Posted by John Merchant on June 13, 2005 at 09:14:54:
Don’t know how many posts like this I’ve seen: How do I “remove” somebody from a deed?"
What gives anybody the idea that a co-owner, ex-husband, defaulting buyer, etc…can just be “removed” from a deed by any means short of a lawsuit ?
To repeat, in short, forget it. You can’t and neither can anybody else.
legal issue with contract for deed - Posted by chris brown
Posted by chris brown on May 29, 2005 at 01:14:44:
I live in Texas and own a house free and clear. I am selling this house using a contract for deed. Am I legally responsible for anything that may happen on this property after I sell it (like someone getting injured there?) If I file the contract for deed at the county court house would this make the buyer be liable for anything that might happen there? Should I carry some liability insurance on this property after I sell it?
thanks
Re: legal issue with contract for deed - Posted by jimmy
Posted by jimmy on May 29, 2005 at 09:40:54:
do not transact contracts for deed in Texas. recent legislation makes it a perilous activity for sellers.
instead, take back a deed of trust and act like a lender. a standard provision in the DOT requires adequate insurance coverage, and you, as mortgagee, are entitled to nitification directly from the insurance company.
Re: legal issue with contract for deed - Posted by chris
Posted by chris on May 29, 2005 at 13:28:09:
Thanks for your response. Can you tell me what makes it perilous?
thanks
Re: legal issue with contract for deed - Posted by dealmaker
Posted by dealmaker on May 29, 2005 at 19:45:46:
Let me jump in. I’ve been an investor (mostly buying for cash and then flipping) in TX for 25+ years. The month the law changed my attorney had me change from CFDs to straight up seller financed sales. He charged me a couple of hundred for the first Warranty Deed, Deed of Trust and Note.
Since then I’ve written all documents into my computer, I update the dates and legal descriptions etc for each sale and charge my buyers $350 or so for “documnet preparation”. I’ve done about 20 or so the past 5 years, no problems. I’ve had to do a couple of foreclosures but heck, it’s TX, that’s a piece of cake too.
dealmaker
Re: legal issue with contract for deed - Posted by Jimmy
Posted by Jimmy on May 29, 2005 at 18:01:24:
review the following publication from the Texas Attorney General’s Office.
Re: legal issue with contract for deed - Posted by MARIA
Posted by MARIA on June 01, 2005 at 19:44:49:
Need to find out how to remove someone off a deed. we have a lawyer but he is not going very fast.