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
Hi ela!
Welcome to forums!
You will have to sign a quitclaim deed wherein your earlier name with two last names would be the grantor and your new name with one last name will be the grantee.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You will have to sign a quitclaim deed wherein your earlier name with two last names would be the grantor and your new name with one last name will be the grantee.
Feel free to ask if you've further queries.
Sussane
Is it possible for a married man to purchase a home without placing his wife on the deed? Would she still have right of survivorship?
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.
Welcome,
To Billtxag,
A married man can purchase a house without placing his wife's name on the property deed. In such a situation, he would be the sole owner of the property and the wife will have no ownership rights to it.
To David,
You will have to ask your parents to sign a new quitclaim deed transferring the ownership of the property solely in your name. You cannot use a warranty deed in this situation as there is a mortgage on the property.
To Billtxag,
A married man can purchase a house without placing his wife's name on the property deed. In such a situation, he would be the sole owner of the property and the wife will have no ownership rights to it.
To David,
You will have to ask your parents to sign a new quitclaim deed transferring the ownership of the property solely in your name. You cannot use a warranty deed in this situation as there is a mortgage on the property.
How is the survivorship determined then? Even if the wife is not listed on the deed...would it still go to her in the event of death? Or should it be dictated in a will?
Husband bought a house in Texas. Is it the law that the wife's name has to be included?
Hi!
Welcome to forums!
To Billtxag,
On the event of the husband's death, the property will not be automatically transferred to the wife. Rather the wife will have to file an affidavit of heirship and claim the property. The husband can also leave a will giving the property to the wife. In that case, the wife will have to probate the will and then transfer the property in her name.
To nelle,
As far as I know Texas is a community property state. In such a case, purchase of property after marriage will include both the spouses names. However, if one of the spouse does not intend to be a part of the property, then he or she can sign an inter-spousal transfer deed. This will make it a separate property of the other spouse.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
To Billtxag,
On the event of the husband's death, the property will not be automatically transferred to the wife. Rather the wife will have to file an affidavit of heirship and claim the property. The husband can also leave a will giving the property to the wife. In that case, the wife will have to probate the will and then transfer the property in her name.
To nelle,
As far as I know Texas is a community property state. In such a case, purchase of property after marriage will include both the spouses names. However, if one of the spouse does not intend to be a part of the property, then he or she can sign an inter-spousal transfer deed. This will make it a separate property of the other spouse.
Feel free to ask if you've further queries.
Sussane
I paid off my mortgage last march and was told the transfer would take 90 days. I have not recieved the deed on my property. Who do I ask in Travis County, Texas about this?
Hi hsmith,
Congratulations to you :) It's great to hear that you've paid off your mortgage.
You'll have to ask your lender about the transfer of the property deed. Inform him that 90 days have already been passed and check out when he would transfer the property deed to you.
Thanks
Congratulations to you :) It's great to hear that you've paid off your mortgage.
You'll have to ask your lender about the transfer of the property deed. Inform him that 90 days have already been passed and check out when he would transfer the property deed to you.
Thanks
Is there a time limit to change a house title once it has been awarded in a the divocrce. The title remains in both names. The house is payed for and it has been 5 years since the divorce. What happens if one dies? Can the significant other remain in the home even if they are not married?
I haven't heard of any time limit but it would be better if you could transfer the property in your name as soon as possible. If the property is not transferred to the spouse who has been awarded the house, then the significant other can live in the property if the ex-spouse is deceased.
Cannot afford to fix expensive foundation leveling,
re-painting and re-siding in a 26 yrs old house - our sole property.
Can we transfer or sell the to someone that can fix it?
We will remain in the house and split maintenance
expenses --= still 8 years to go with low interest
We are barely surviving with the SSA checks.
.
we cannot sell for profit due to creditors.
also no equity loan possible.
Is this a bad idea ?
re-painting and re-siding in a 26 yrs old house - our sole property.
Can we transfer or sell the to someone that can fix it?
We will remain in the house and split maintenance
expenses --= still 8 years to go with low interest
We are barely surviving with the SSA checks.
.
we cannot sell for profit due to creditors.
also no equity loan possible.
Is this a bad idea ?
hi achalita!
welcome to forums!
you can transfer the property to someone else who can do the required improvements. however, once you transfer the property, the lender may ask the new owners to refinance the mortgage in their name. as far as selling the property is concerned, you should check out your mortgage documents to find out if there's a "due on sale" clause mentioned in the deed. if yes, then when you sell off the property, you'll have to pay off the dues immediately.
feel free to ask if you've further queries.
sussane
welcome to forums!
you can transfer the property to someone else who can do the required improvements. however, once you transfer the property, the lender may ask the new owners to refinance the mortgage in their name. as far as selling the property is concerned, you should check out your mortgage documents to find out if there's a "due on sale" clause mentioned in the deed. if yes, then when you sell off the property, you'll have to pay off the dues immediately.
feel free to ask if you've further queries.
sussane
I have a Warranty Deed that was transferred to me from my mother, which was transferred to her from her mother. My mother died in 2005 and my grandmother died 07/08/09. The property has been left to me. My grandmother's brother feels that he should get 50% of the property,once it is sold, and threatened that he would contest and take me to court if I do not give him half. His name is not on the deed. And I refuse to give him 50%. Can he contest and win if he decides to take me to court?
myself and a partner bought land together. the land is paid off and my partner wants 6.000. for his part of the land. how can i borrow the money to pay him and use the land as collateral? the land is valued at 32,000.