Legal Question in Real Estate Law in Texas

I owner financed a home many years ago, they never finished paying the notes. Both parties are deceased. They did not abide by the contract as far as upkeep on the property or payments. They are only about 3-4 payments short but no one is paying the amount due. It shows, online, that the property has been " granted" to a family member. How can that be? I've never signed anything over to the original purchaser. Wouldn't I have to actually sign it over once they made their final payment? Wouldn't there need to be some type of final documentation?


Asked on 6/14/10, 7:03 am

2 Answers from Attorneys
Mark Dunn Mark D. Dunn

I can "grant" to another party only what is mine - whatever ownership (or part ownership) I have in the property.

You ened to get a copy of the document that "granted" something to a family member.

And you need to foreclose. The way you do this is governed by the type of documentation that granted you a lien on the house (deed of trust, etc.).

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Answered on 6/14/10, 10:42 am

It depends on how you sold the property. Did you sell it on a contract for deed? Or a deed of trust? If it's the latter, then they transferred it, subject to the mortgage, and you can foreclose. If it's the former, then the transfer is invalid.

If the borrower is deceased, you may need to go through probate court and proceed there.

Dave

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Answered on 6/14/10, 11:07 am


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