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
my wife i need to put her on my deed and remove my mother and i dont know who to contact on this or do i make a new deed 713 678 7567
My wife acquired a separate property before we we married. I am on social security disability. In Texas she found out that because of that, if the property is deeded in both her AND my names; a 50% reduction in property taxes can be obtained. There is a mortgage note and lien in both names. What form of warranty deed will be necessary to accomplish this maneuver?
Hi,
To j.c. blatejr,
You'll have to ask your mother to sign a quitclaim deed and transfer the property to you first. Once she does so, you can sign another quitclaim deed and add your wife to the property.
To barry,
If you want to include your name in the property deed, you'll have to ask your wife to sign a quitclaim deed and include your name. Once this is done, you need to notarize and record the deed.
Thanks
To j.c. blatejr,
You'll have to ask your mother to sign a quitclaim deed and transfer the property to you first. Once she does so, you can sign another quitclaim deed and add your wife to the property.
To barry,
If you want to include your name in the property deed, you'll have to ask your wife to sign a quitclaim deed and include your name. Once this is done, you need to notarize and record the deed.
Thanks
if a home is bought jointly and both names are on the mortgage then we want to refinance but one had better credit than the other. when refinancing one name is taken off the mortgage bill. Are both partners still legal owners of the home?
Hi rhonda!
Welcome to forums!
If both partners have their name on the property deed, then both of them are legal owners of the property. If one of the partner's name is not on the mortgage, then he/she will not be responsible for the mortgage payments.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
If both partners have their name on the property deed, then both of them are legal owners of the property. If one of the partner's name is not on the mortgage, then he/she will not be responsible for the mortgage payments.
Feel free to ask if you have further queries.
Sussane
My mother sold a property in 2001 and was never recorded. She is still shown as the owner at the courthouse and now the owner is trying to sell the property. The current owner and buyer want a warranty deed signed but it doesn't state that this property was orignally sold in 2001. My mother because of medicare and medicaid stated that she doesn't own any property but with this issue, she is afraid that of signing this document. What should we put in the warranty deed to reflect the original sale date? Thanks in advance for your assistance.
Hi Pirate!
Welcome to forums!
You can ask the owner of the property to include the original date of the sale of the property in the warranty deed. But in my opinion, it would be better if you can consult a real estate attorney in this regard.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can ask the owner of the property to include the original date of the sale of the property in the warranty deed. But in my opinion, it would be better if you can consult a real estate attorney in this regard.
Feel free to ask if you've further queries.
Sussane
Sussane - Thanks for the advice!
You're most welcome Pirate :) If you have further queries regarding mortgage or any other related financial issues, feel free to post in the forums. The members/experts participating here will try to help you.
We sign a warranty deed and didn't have no idea into what we were signing it been about three year since he ahd the porperty and he stated that he was going to sell the property with then a year or two. I can't buy another house cause the loan still in my name, but he holds the title to the property
A co-worker of my husband's is wanting us to take over payments on their trailer in Magnolia, Texas. They are willing to leave the mortagage in their name but we make the payments and pay the taxes. Is there a legal document that can be drawn up that holds us responsible for everything?
Hello. I'm hoping someone here can help me. Back in 1999 I bought a house and my parents cosigned so all 3 of us show up on the warranty deed. In 2004 I refinanced by myself and we all assumed that meant the house title was in my name alone. It turns out this is not true as a new warranty deed was never filed apparently. How would I go about getting a new warranty deed showing me as sole owner and filing it? Thanks for any assistance.
I own two duplexes both mortgages are on my personal credit. How can I transfer both to an LLC? I live in Texas and on one of the units I used a VA loan; will it be possible to transfer that property also and free up my VA loan for a future property?
My oldest son has lived with my father for over 2years, since the passing of my mother and my father wants to leave it to my 21 year old son.
A while back, I bought a house when I had two last names. A couple years ago, I changed my name to one last name. I paid the house off, and now I want the title of the house to have my one last name instead of the two. What should I do?