Congrats to Texas, where the government just gave a boost to
the quitclaim deed! People who receive their homes through recorded quitclaim
deeds will now be on firmer ground in the Lone Star State. Here’s what you need
Strengthening the Chain of Title for Texas Property
In May, a bill was signed into law to amend Chapter 13 of the
Texas Property Code, to take effect on Sep. 1, 2021. From now on, using a
quitclaim deed to transfer title from one owner to the next will be easier. Title
companies will be able to consider buyers who accepted and recorded quitclaims as
bona fide purchasers after four years. Texas formally set a four-year
statute of limitations for competing claims.
Once a quitclaim deed is recorded in the property’s county,
a later purchaser or lender has good-faith protection, as long as the party has
no knowledge of other unrecorded claims on the property. What does this mean
for buyers of real estate with a quitclaim in the chain of title? The buyer can
legally claim good faith purchaser status.
It’s hurricane season — and hurricanes are hard on Texas. When Texas residents lack the legal basis for insuring their homes, or to claim disaster assistance after storm damage, the harm is compounded. This season, through a pilot program started last year for Dallas residents, legal service providers are stepping in to help. They’ve started a new legal support system to clear titles: Title and Property Assistance, or TAPA.
Paying off the decedent’s debts is one of the primary duties of an estate’s executor or administrator. Failing to do this can lead to personal liability on the executor or administrator’s part. The estate’s creditors have rights under Texas probate law, but all are time-sensitive. If estate assets are limited, whether the creditor receives reimbursement depends on the nature of the debt.
Questions and concerns frequently arise when owners of residential property in suburban and rural areas discover that oil and gas operations are being conducted in the vicinity. The information below is intended to provide general answers to some of the most common questions.
The information presented in this article is not all-encompassing, nor is it meant to be construed as professional legal advice. Because homestead exemption laws are complicated, consult a qualified attorney with questions regarding homestead exemptions and living trusts in your state.
Via Black’s Law Dictionary, 8th ed., a homestead is “[t]he house, outbuildings, and adjoining land owned and occupied by a person or family as a residence. As long as the homestead does not exceed in area or value the limits fixed by law, in most states it is exempt from forced sale for collection of a debt.” A homestead can only be designated in one jurisdiction, generally where the owner maintains permanent residence.
A mechanic’s lien is an encumbrance on a property owner’s real estate title, used to guarantee payment to builders, contractors, and construction businesses which build or repair structures, by using the property where the work was completed as a form of collateral. Eligible parties include the general contractor, subcontractors, laborers, and material or equipment suppliers, as well as by architects, engineers, and surveyors. Material or equipment suppliers must have the materials actually delivered to or used in the project to claim a lien, but if the materials were specially manufactured, the supplier can get a lien even if the materials are not ultimately delivered or incorporated into the project. The lien ensures that the workmen are paid before anyone else if the property subject to the lien is eventually foreclosed upon.
Non-judicial foreclosures in Texas
are governed by Chapter 51 of the Texas Property Code, which outlines the
foreclosure process for residential property, or the property used by borrowers
as their principal residence . Foreclosures of non-residential property
follow different procedures.