Posted on: 04th Apr, 2008 12:06pm
If you're in Texas and looking to transfer whole or part of your property to another individual, you may use a Texas Warranty Deed. Such a deed is widely used to change names on title especially during buying/selling transactions.
Both General and Special Warranty deeds are approved by the state of Texas. The grantor (one who transfers property) is legally bound by certain covenants or warranties. But unlike all other states, in Texas, the grantor is not obligated to include the warranties on the deed. However, the warranties should be expressed by words in the deed as specified in the state laws. Some of these words are - "convey and warrant", "grant", "bargain", "sell" and "warranty generally".
It may happen that you have a mortgage on your property. Now, Texas being a Community Property state, if you get married after buying the property, your spouse will own half of the property equity gained during the marriage. And, in order to transfer half of your property equity, you can use a warranty deed as long as the mortgage is listed on the deed.
Both General and Special Warranty deeds are approved by the state of Texas. The grantor (one who transfers property) is legally bound by certain covenants or warranties. But unlike all other states, in Texas, the grantor is not obligated to include the warranties on the deed. However, the warranties should be expressed by words in the deed as specified in the state laws. Some of these words are - "convey and warrant", "grant", "bargain", "sell" and "warranty generally".
It may happen that you have a mortgage on your property. Now, Texas being a Community Property state, if you get married after buying the property, your spouse will own half of the property equity gained during the marriage. And, in order to transfer half of your property equity, you can use a warranty deed as long as the mortgage is listed on the deed.
Hi all,
A relative bought a home as a single man six months before getting married because he did not want to put his new wife's name on the mortgage, title, or deed. Now six months after they are married, a "Warranty Deed" (title on the top of the document) has been filed with the county stating that a 1/2 undivided interest has been granted to her. There is an outstanding mortgage on the home. Is it legal in Texas to grant your wife 1/2 of a home when you don't actually own it yet? The recorded deed prior to this one stated"General warranty deed-vendor lien". Also, the new deed filed is stamped on the last page: Returned at counter to: "an attorney's name in care of my relative's home address". The title company or mortgage company are never mentioned. I want to make sure he hasn't done something that will get him in trouble later. Thanks for your input. Concerned relative
A relative bought a home as a single man six months before getting married because he did not want to put his new wife's name on the mortgage, title, or deed. Now six months after they are married, a "Warranty Deed" (title on the top of the document) has been filed with the county stating that a 1/2 undivided interest has been granted to her. There is an outstanding mortgage on the home. Is it legal in Texas to grant your wife 1/2 of a home when you don't actually own it yet? The recorded deed prior to this one stated"General warranty deed-vendor lien". Also, the new deed filed is stamped on the last page: Returned at counter to: "an attorney's name in care of my relative's home address". The title company or mortgage company are never mentioned. I want to make sure he hasn't done something that will get him in trouble later. Thanks for your input. Concerned relative
Hi linda
You can contact lenders who are offering land loans. However, the criteria for getting land loans are more or less similar. You should have a credit score of 720-740 in order to get a conventional loan. As far as the FHA loans are concerned, a minimum of 620 credit score is required. Apart from this, you should also have a stable income and should be able to give a downpayment.
Take care.
You can contact lenders who are offering land loans. However, the criteria for getting land loans are more or less similar. You should have a credit score of 720-740 in order to get a conventional loan. As far as the FHA loans are concerned, a minimum of 620 credit score is required. Apart from this, you should also have a stable income and should be able to give a downpayment.
Take care.
I own a house outright and want to sell it to my daughter & her husband.
I have a warranty deed and deed of trust. My bank would not notarize the
documents, do I have to go to tittle company and pay the price just to finish the sale?
Richardson, Texas
I have a warranty deed and deed of trust. My bank would not notarize the
documents, do I have to go to tittle company and pay the price just to finish the sale?
Richardson, Texas
My husband and I are separated. We would like to transfer the ownership of the home to me. There is still a mortgage on the home that is in both of our names. We plan to divorce but not until some time in the future. How would we go about getting the home solely in my name as well as the mortgage in my name? We would like to do this now because we may continue to be separated for a while before we divorce.
To Bob,
You can sell off the property to your daughter and her husband by signing a warranty deed or a grant deed. You may mention the sale price of the property in the deed and get it notarized and recorded at the county recorder's office.
To Marie,
Your husband will have to sign a quitclaim deed and transfer the property to you. Then you can refinance and transfer the mortgage in your name.
You can sell off the property to your daughter and her husband by signing a warranty deed or a grant deed. You may mention the sale price of the property in the deed and get it notarized and recorded at the county recorder's office.
To Marie,
Your husband will have to sign a quitclaim deed and transfer the property to you. Then you can refinance and transfer the mortgage in your name.
The house is paid for but remains under my spouse and my name. If I pay my husband the 1/2 of the cost of the house what kind of deed do I needfor the house to be legally mine? I am assuming that if he agrees on sale price ... is it possible for me to just fill out a simple deed form without resorting to a lawyer?
Hi agueda!
Welcome to forums!
As the property is free and clear, you can ask your husband to sign a warranty deed or a grant deed and transfer the property to you. Your husband can fill out the deed himself but in case of any doubts, you can take an attorney's help.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As the property is free and clear, you can ask your husband to sign a warranty deed or a grant deed and transfer the property to you. Your husband can fill out the deed himself but in case of any doubts, you can take an attorney's help.
Feel free to ask if you've further queries.
Sussane
My mom transfered a property to me as a gift. Will this affect her benefits with medicaid? Is there a penalty?
Thank you.
Thank you.
Hi TM!
Welcome to forums!
Your mother will have to pay gift taxes because she has transferred the property to you as a gift. As far as medicaid is concerned, there is a waiting period of 5 years. Your mother will not be able to claim the benefits of medicaid for the next 5 years.
Sussane
Welcome to forums!
Your mother will have to pay gift taxes because she has transferred the property to you as a gift. As far as medicaid is concerned, there is a waiting period of 5 years. Your mother will not be able to claim the benefits of medicaid for the next 5 years.
Sussane
My mother just passed no more than a month ago. I dont knw any thing about tranfering the house. There are three other children but they dont want any parts of the house. so what do i do and how.
Hi Guest,
As your other siblings are not interested in the property, you will have to file an affidavit of heirship in the county recorder's office and transfer the property in your name.
Thanks
As your other siblings are not interested in the property, you will have to file an affidavit of heirship in the county recorder's office and transfer the property in your name.
Thanks
i lived in texas. my brother refinance his house through the owner. he stoppped making payments so my brother agreed that me and my dad paid off the property to the owner and then the property title will be transfer into my and my dad's name. there any form that we can use to transfer the title from the past owner and my brither to mine and my dads name?
Dad signs warranty deed to doughter. Other daughter gets upset states wants moms half. Mom died left no will. Does the upset daughter have any rights?
Hi!
Welcome to forums!
To mtsoldevila,
Your query has been answered in the given page:
http://www.mortgagefit.com/annoucements/about26428.html#115234
Please take a look at it. Hope it helps you.
To fred,
As the mother did not leave back a will, the upset daughter can file an affidavit of heirship and get the property transferred in her name.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
To mtsoldevila,
Your query has been answered in the given page:
http://www.mortgagefit.com/annoucements/about26428.html#115234
Please take a look at it. Hope it helps you.
To fred,
As the mother did not leave back a will, the upset daughter can file an affidavit of heirship and get the property transferred in her name.
Feel free to ask if you've further queries.
Sussane
What happens when the grantor refuses to file the warranty deed after it is signed and notorized?
Hi kinyo,
If the grantor does not file the new deed, it won't be considered as a valid document. The property transfer would not be complete. Once the deed is filed at the county recorder's office, the property deed is considered as a valid document for the transfer of the property.
If the grantor does not file the new deed, it won't be considered as a valid document. The property transfer would not be complete. Once the deed is filed at the county recorder's office, the property deed is considered as a valid document for the transfer of the property.