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.
Continue reading “The Mechanic’s Lien Process in Texas”The Guide to Texas Trustee’s Deed
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 [1]. Foreclosures of non-residential property follow different procedures.
Continue reading “The Guide to Texas Trustee’s Deed”Texas Adds Statutory Transfer on Death Deeds to Estate Planning Arsenal
As of September 1, 2015, owners of real property in Texas gained access to the statutory transfer on death deed (TODD). Modeled after the Uniform Real Property Transfer on Death Act and located at Chapter 14 of the Texas Estates Code, the Texas Real Property Transfer on Death Act governs the use of transfer on death deeds in the State of Texas.
Continue reading “Texas Adds Statutory Transfer on Death Deeds to Estate Planning Arsenal”Filing a corrected deed in Texas (even if the title company has closed)
In Texas, a correction deed is the deed issued to make changes to an erroneous deed. These two instruments are closely linked, and all corrections are effective as of the date of the original recorded instrument (Property Code Sec. 5.030).
Continue reading “Filing a corrected deed in Texas (even if the title company has closed)”