Legal Question in Real Estate Law in Texas

Property Title

I purchased 1/2 lot from local Real Estate Co. approx 21 yrs ago & pd off in 1994. During 10 yr loan period, loan was transferred from RE Co to Bank. After payoff, I didn't receive title to land or release. I called bank & got a recording w/new number. Called new number and was told that bank was bought by different bank. I told new bank my situation. I was told that old files were in boxes and that it would be a while for them to sort through them. Time has gone by and I assumed that I would stay in same place and never sell or need title. So I never persued obtaining the title. Now, things have changed & I would like to see the property. How do I get a title, the second bank is no longer in existance and I do not know where to go at this point.

Thank you,


Asked on 10/24/05, 1:22 pm

1 Answer from Attorneys
Joseph A. McDermott, III Attorney at Law

Re: Property Title

You have three choices. 1. Find someone who has succeeded to the interest of the original lineholder and get a release. 2. Bring a lawsuit to quiet title, i.e. get a court order removing the lien. 3. When you sell the property, get the buyer, and the buyer's lender and title company, to agree to take the property without a release. No. 1 is inexpensive and gets you immediate results, but it may be problematic to find the right party to get you your release. No. 2 is more expensive and time-consuming, but has the advantage of getting the issue resolved. No. 3 may be a tough sell; you may lose a potential sale over this -- not sure I'd advise a a client to take a deed with such a cloud on the title.

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Answered on 10/24/05, 4:20 pm


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