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Preview - Texas Deed in Lieu of Foreclosure Form
Texas Deed in Lieu of Foreclosure Template
This Deed in Lieu of Foreclosure (“Deed”) is made and entered into as of the _____ day of __________, 20__ by and between:
Grantor: ______________________________________
Address: _____________________________________________
City, State, Zip: _____________________________________
Grantee: ______________________________________
Address: _____________________________________________
City, State, Zip: _____________________________________
This Deed is executed pursuant to the provisions of the Texas Property Code Chapter 12 as it relates to the transfer of real property by a borrower to a lender.
1. Transfer of Property
The Grantor hereby conveys to the Grantee all that certain property located at:
_____________________________________________________
_____________________________________________________
City: _______________________ State: Texas Zip: ___________
2. Consideration
This conveyance is made as a deed in lieu of foreclosure in consideration of the following:
- Total amount of indebtedness owed: $_____________
- Date of the Note/Mortgage: _______________
3. Representations and Warranties
The Grantor represents and warrants that:
- The Grantor is the lawful owner of the property.
- No liens or encumbrances exist other than those disclosed to the Grantee.
4. Acceptance of the Deed
The Grantee hereby accepts this Deed in lieu of the foreclosure of the Grantor's obligations under the Mortgage referenced herein.
5. Execution
The parties hereby execute this Deed as of the date first above written.
___________________________
Grantor Signature
___________________________
Grantee Signature
___________________________
Date
___________________________
Witness Signature
Create Other Common Deed in Lieu of Foreclosure Forms for Different States
Georgia Foreclosure Laws - This form represents a choice between a difficult situation and a fresh start.
In addition to the essential documentation required for a trailer sale, it may also be useful to reference a Motor Vehicle Bill of Sale to ensure all legal aspects of the transaction are addressed properly.
Florida Deed in Lieu of Foreclosure - Borrowers should consult with financial and legal advisors to determine if a Deed in Lieu is the right choice.
Foreclosure Deed - This process helps homeowners eliminate debt and allows lenders to recover their investment without lengthy foreclosure proceedings.
Deed in Lieu of Foreclosure Sample - Utilizing this form can be a proactive step for homeowners intent on protecting their financial future.
Similar forms
- Short Sale Agreement: A short sale agreement allows a homeowner to sell their property for less than the amount owed on the mortgage. Like a deed in lieu of foreclosure, it helps avoid the lengthy foreclosure process. Both options require lender approval and can provide a way for the homeowner to mitigate financial damage.
- RV Bill of Sale Form: For those completing transactions on recreational vehicles, the necessary RV Bill of Sale information ensures all sales are legally recorded and compliant with state regulations.
- Loan Modification Agreement: A loan modification agreement alters the terms of an existing mortgage, such as interest rates or payment schedules. This document aims to make the loan more affordable for the borrower, similar to a deed in lieu of foreclosure, which seeks to relieve the homeowner from an unmanageable mortgage burden.
- Forebearance Agreement: A forbearance agreement temporarily suspends or reduces mortgage payments for a specified period. This document serves as a short-term solution to financial hardship, much like a deed in lieu of foreclosure, which provides a long-term resolution by transferring property ownership to the lender.
- Bankruptcy Filing: Filing for bankruptcy can provide legal protection against foreclosure. It allows the homeowner to reorganize debts and potentially keep the home. While a deed in lieu of foreclosure transfers ownership, both documents address the homeowner's financial distress and aim to find a resolution outside of traditional foreclosure proceedings.