Mortgage lenders on seller-financed properties sometimes ask questions like “If I start a foreclosure on this property, then when do I get my property back?” This question makes little sense because the lender may never get the property back. The person asking it may not understand what a foreclosure is, how a foreclosure works, or […]
Texas is unique in allowing last wills and testaments to be probated as a “muniment of title.” Many states have no such equivalent. “The case law in Texas is quite liberal in permitting a will to be offered as a muniment of title after the statute of limitations has expired upon the showing of an
What to Know About the Dodd-Frank Act, the Truth in Lending Act, the Texas SAFE Act, TRID, and the Real Estate Settlement Procedures Act When Seller Financing Residential Real Estate in Texas
The Dodd-Frank Wall Street Reform and Consumer Protection Act (hereinafter “Dodd-Frank”) was signed into law on July 21st, 2010 in response to the mortgage loan crisis. Dodd-Frank made sweeping changes to the Truth in Lending Act (hereinafter “TILA”). TILA was first codified in 1968, but the 2010 Dodd-Frank changes revolutionized the mortgage lending business. It
What to Know About the Dodd-Frank Act, the Truth in Lending Act, the Texas SAFE Act, TRID, and the Real Estate Settlement Procedures Act When Seller Financing Residential Real Estate in Texas Read More »
When buying and selling real property in Texas, a working knowledge of Texas marital property law can be helpful. Texas is one of nine of the United States using a community property system for marital property. The rest of the states have laws regarding equitable distribution. The equitable distribution laws govern how property is distributed
Two fairly major changes to Texas foreclosure law occurred recently. House Bill 2066 modifies Chapter 51 of the Texas Property Code to make it easier to rescind nonjudicial foreclosure sales and House Bill 2067 amends Chapter 16 of the Texas Civil Practice and Remedies Code to make it easier to rescind acceleration of promissory notes.
Contracts for Deed: Do the Volume-Dealer Penalties of Section 5.077(d) Have an “Anchoring” Requirement?
One bankruptcy court says yes. Here is an argument for the answer being no. Under Section 5.077(d), the volume-dealer penalties apply to “A seller who conducts two or more transactions in a 12-month period under this section . . . .” One bankruptcy court has interpreted this provision as meaning that the volume-dealer penalties apply