Legal Question in Real Estate Law in Texas

No Lien on Certificate of Ownership-Do I Own It?

I agreed to purchase a single-wide mobile through owner financing. Since the time of purchase the owner sold her interest in the contract to a Finance Corporation. I have been listed as the current owner through the Department of Housing and Community Affairs. On the Certificate it says that there are no mortgage liens. However, I have been making payments to this Finance Corporation for years. Do they hold the note on my home or do I since I am listed as the owner with no mortgage liens? Do I have to continue paying them since I had an agreement with the previous owner?


Asked on 1/07/05, 1:25 pm

1 Answer from Attorneys

Austin Nimocks Austin R. Nimocks & Associates, P.L.L.C.

Re: No Lien on Certificate of Ownership-Do I Own It?

A seller can assign their interest in something and you, as the buyer, have the responsibility to abide by your obligation, even if you're paying a different entity to whom the contract was assigned. The absence of a lien does not alleviate you of your obligation under the contract. All it may mean is that the seller failed to perfect a security interest in the home. However, you still have to pay and they (finance corporation) can come after you if you don't.

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Answered on 1/08/05, 11:42 pm


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