Which of the following are required of deeds to be enforceable?

In order for a deed to be valid and legally enforceable, the deed must meet the following requirements: Must be in writing and convey title to real property. There must be a legal description of the property. The deed should be recorded for legal notice purposes to establish priority and the sequence of ownership.

What is Chapter 5 of the Texas Property Code?

Texas Property Code Chapter 5 > Subchapter G – Certain Private Transfer Fees Prohibited; Preservation of Private Real Property Rights.

What is a deed of Recon?

A deed of reconveyance is a legal document that indicates the transfer of a property’s title from lender to borrower. The deed of reconveyance is typically issued after the borrower has paid off their mortgage in full. With your mortgage or deed of trust paid off, you cannot be foreclosed on by a financial institution.

What is HUD conveyance?

1. The conveyance of a property to HUD. Cases where the Claims Without Conveyance of Title procedures were followed but the mortgagee was the successful bidder at the foreclosure sale for an amount not in excess of the Commissioner’s Adjusted Fair market value and has elected to convey the property to HUD.

What would cause a deed to be void?

When a deed is altered or changed by someone other than the grantor before it is delivered or recorded, and the alteration is without the grantor’s knowledge or consent, the deed is void and no title vests in the grantee or subsequent purchasers, even bona fide purchasers for value; and if the deed is altered after …

Are property deeds legally binding?

A deed is a written document which is executed with the necessary formality (that is, more than a simple signature), and by which an interest, right or property passes or is confirmed, or an obligation binding on some person is created or confirmed. Deeds are generally enforceable despite any lack of consideration.

Who pays for the survey in Texas?

buyer
Who is responsible for providing the survey? The short answer is: This is negotiable between buyer and seller. In looking at the Texas Real Estate Commission’s One to Four Family Residential Contract there are three main options.

What is the Texas Property Code?

Texas Property Code (“TPC”) Title 11, includes numerous provisions governing the formation, management, powers, and operation of residential HOAs (usually called “Property Owners Associations” in the statute) in Texas.

What do you do with a reconveyance deed?

Deed of Reconveyance vs. The deed of reconveyance proves that the lender no longer has a security interest in the home. A homeowner who has received a deed of reconveyance can’t be foreclosed upon by the lending institution, and they can transfer the property at any time, free and clear of the lien.

Is reconveyance deed necessary?

A deed of reconveyance is important to understand for those looking to take out a mortgage to purchase a property. The document indicates that the borrower is now the sole owner of the property, and it confirms that the mortgage loan has been paid in full.

What is Cwcot property?

CWCOT is a claim option through which FHA pays insurance benefits to a. Mortgagee after the sale of the property to a third party at the foreclosure of the FHA-insured mortgage or through a Post-Foreclosure Sale.

What is the waiting period for FHA loan after foreclosure?

three-year
There’s a three-year waiting period after foreclosure for FHA loans. The FHA loan program does allow for documented extenuating circumstances, though it doesn’t specify an exact time frame. That said, you should expect for it to be at least one year.