Legal Question in Real Estate Law in Texas

Re: Title Transfer

Howdy:

The warranty deed will transfer title to the property. You've already given that to them? Before they've paid for the property?

The best way to sell property is to draw up a sales contract (forms can be downloaded from the Texas Real Estate Commission website). Then turn that and the earnest money over to a title company, which will handle the escrow. They will draw up the deed and issue a policy of title insurance.

The costs involved are minimal, and each side usually pays customary costs. The title company can give you the details.

But, if you've already written a warranty deed (assuming it was in proper form) and given it to the buyers, then you've transferred title.

It's always a bad idea to had over a deed before you've received the money for the property.

rkr

Re: Title Transfer

Well, you need a new deed from them to you. A lawyer should charge no more than $150.00 for the deed alone. However, are you providing them with a title policy? Survey? Just giving a warranty deed in the absence of title examination, insurance and survey can be dangerous for a seller.

Re: Title Transfer

You should probably hire a real estate lawyer to draft and file the appropriate deed documents. I would also recommend your using a title company to handle the transfer of funds, and to issue a title insurance policy.