Real Estate Issues for City Attorneys...Real Estate Issues for City Attorneys A Resource for Municipal Attorneys Who Don’t Speak Real Estate (featuring “Pinkacre”) Allison Bastian-Rodriguez,
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Real Estate Issues for City Attorneys A Resource for Municipal Attorneys Who Donrsquot Speak Real Estate
(featuring ldquoPinkacrerdquo)
Allison Bastian-Rodriguez Attorney
DENTON NAVARRO ROCHA BERNAL amp ZECH PC
Who What For What Governing Law
Real Estate Documents Closing Documents
(Pinkacre)
(Pinkacre)
(Pinkacre)
Texas Local Govrsquot Code 253008
SALE OF REAL PROPERTY BY PUBLIC AUCTION
(a) The governing body of a municipality may sell real property owned by the municipality by public
auction or by sealed bid under Section 272001
(b) To sell real property by public auction the governing body of a municipality shall publish notice of
the auction before the 20th day before the date the auction is held The notice for sale of the real
property must be published once a week for three consecutive weeks before the date the auction
is held in a newspaper of general circulation in the county in which the municipality is located and
if the real property is located in another county in a newspaper of general circulation in the
county in which the real property is located The notice must include a description of the real
property including its location and the date time and location at which the auction is to be held
Must be sold to highest bidder
Texas Local Govrsquot Code Ch 253
EXCEPTIONS
253002 Islandsflatssubmerged lands
253003 Federal property
253010 Housing nonprofits
253011 Nonprofits
253012 EDCs 20000 gt
Texas Local Govrsquot Code 272001
NOTICE OF SALE OR EXCHANGE OF LAND BY POLITICAL SUBDIVISION EXCEPTIONS
(a) Except for the types of land and interests covered by Subsection (b) (g) (h) (i) (j) or (l) and except as
provided by Section 253008 before land owned by a political subdivision of the state may be sold or
exchanged for other land notice to the general public of the offer of the land for sale or exchange must
be published in a newspaper of general circulation in either the county in which the land is located or if
there is no such newspaper in an adjoining county The notice must include a description of the land
including its location and the procedure by which sealed bids to purchase the land or offers to
exchange the land may be submitted The notice must be published on two separate dates and the sale
or exchange may not be made until after the 14th day after the date of the second publication
Sell to bidder providing ldquobest benefitrdquo
Texas Local Govrsquot Code 272001(b)
EXCEPTIONS
Narrow stripsweirdly-shaped
parcels of land
Streets or alleys
Independent foundation
Governmental entityeminent domain
Reinvestment zone
Texas Local Govrsquot Code 253014
BROKER AGREEMENTS AND FEES FOR SALE OF REAL
PROPERTY BY HOME-RULE MUNICIPALITIES
Governing body may contract with a broker to sell
must list the property for at least 30 days
Sell to ldquoready willing and able buyerrdquo who
submits ldquohighest cash offerrdquo
Texas Local Govrsquot Code 272001(j)
HIGHER EDUCATION
A political subdivision may donate
exchange convey sell or lease land
improvements or any other interest in real
property to an institution of higher
educationhellip to promote a public purpose
related to higher education The political
subdivision shall determine the terms and
conditions of the transaction so as to
effectuate and maintain the public purpose A
political subdivision may donate exchange
convey sell or lease the real property
interest for less than its fair market
value and without complying with
the notice and bidding requirements
of Subsection (a)
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Who What For What Governing Law
Real Estate Documents Closing Documents
(Pinkacre)
(Pinkacre)
(Pinkacre)
Texas Local Govrsquot Code 253008
SALE OF REAL PROPERTY BY PUBLIC AUCTION
(a) The governing body of a municipality may sell real property owned by the municipality by public
auction or by sealed bid under Section 272001
(b) To sell real property by public auction the governing body of a municipality shall publish notice of
the auction before the 20th day before the date the auction is held The notice for sale of the real
property must be published once a week for three consecutive weeks before the date the auction
is held in a newspaper of general circulation in the county in which the municipality is located and
if the real property is located in another county in a newspaper of general circulation in the
county in which the real property is located The notice must include a description of the real
property including its location and the date time and location at which the auction is to be held
Must be sold to highest bidder
Texas Local Govrsquot Code Ch 253
EXCEPTIONS
253002 Islandsflatssubmerged lands
253003 Federal property
253010 Housing nonprofits
253011 Nonprofits
253012 EDCs 20000 gt
Texas Local Govrsquot Code 272001
NOTICE OF SALE OR EXCHANGE OF LAND BY POLITICAL SUBDIVISION EXCEPTIONS
(a) Except for the types of land and interests covered by Subsection (b) (g) (h) (i) (j) or (l) and except as
provided by Section 253008 before land owned by a political subdivision of the state may be sold or
exchanged for other land notice to the general public of the offer of the land for sale or exchange must
be published in a newspaper of general circulation in either the county in which the land is located or if
there is no such newspaper in an adjoining county The notice must include a description of the land
including its location and the procedure by which sealed bids to purchase the land or offers to
exchange the land may be submitted The notice must be published on two separate dates and the sale
or exchange may not be made until after the 14th day after the date of the second publication
Sell to bidder providing ldquobest benefitrdquo
Texas Local Govrsquot Code 272001(b)
EXCEPTIONS
Narrow stripsweirdly-shaped
parcels of land
Streets or alleys
Independent foundation
Governmental entityeminent domain
Reinvestment zone
Texas Local Govrsquot Code 253014
BROKER AGREEMENTS AND FEES FOR SALE OF REAL
PROPERTY BY HOME-RULE MUNICIPALITIES
Governing body may contract with a broker to sell
must list the property for at least 30 days
Sell to ldquoready willing and able buyerrdquo who
submits ldquohighest cash offerrdquo
Texas Local Govrsquot Code 272001(j)
HIGHER EDUCATION
A political subdivision may donate
exchange convey sell or lease land
improvements or any other interest in real
property to an institution of higher
educationhellip to promote a public purpose
related to higher education The political
subdivision shall determine the terms and
conditions of the transaction so as to
effectuate and maintain the public purpose A
political subdivision may donate exchange
convey sell or lease the real property
interest for less than its fair market
value and without complying with
the notice and bidding requirements
of Subsection (a)
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
(Pinkacre)
(Pinkacre)
(Pinkacre)
Texas Local Govrsquot Code 253008
SALE OF REAL PROPERTY BY PUBLIC AUCTION
(a) The governing body of a municipality may sell real property owned by the municipality by public
auction or by sealed bid under Section 272001
(b) To sell real property by public auction the governing body of a municipality shall publish notice of
the auction before the 20th day before the date the auction is held The notice for sale of the real
property must be published once a week for three consecutive weeks before the date the auction
is held in a newspaper of general circulation in the county in which the municipality is located and
if the real property is located in another county in a newspaper of general circulation in the
county in which the real property is located The notice must include a description of the real
property including its location and the date time and location at which the auction is to be held
Must be sold to highest bidder
Texas Local Govrsquot Code Ch 253
EXCEPTIONS
253002 Islandsflatssubmerged lands
253003 Federal property
253010 Housing nonprofits
253011 Nonprofits
253012 EDCs 20000 gt
Texas Local Govrsquot Code 272001
NOTICE OF SALE OR EXCHANGE OF LAND BY POLITICAL SUBDIVISION EXCEPTIONS
(a) Except for the types of land and interests covered by Subsection (b) (g) (h) (i) (j) or (l) and except as
provided by Section 253008 before land owned by a political subdivision of the state may be sold or
exchanged for other land notice to the general public of the offer of the land for sale or exchange must
be published in a newspaper of general circulation in either the county in which the land is located or if
there is no such newspaper in an adjoining county The notice must include a description of the land
including its location and the procedure by which sealed bids to purchase the land or offers to
exchange the land may be submitted The notice must be published on two separate dates and the sale
or exchange may not be made until after the 14th day after the date of the second publication
Sell to bidder providing ldquobest benefitrdquo
Texas Local Govrsquot Code 272001(b)
EXCEPTIONS
Narrow stripsweirdly-shaped
parcels of land
Streets or alleys
Independent foundation
Governmental entityeminent domain
Reinvestment zone
Texas Local Govrsquot Code 253014
BROKER AGREEMENTS AND FEES FOR SALE OF REAL
PROPERTY BY HOME-RULE MUNICIPALITIES
Governing body may contract with a broker to sell
must list the property for at least 30 days
Sell to ldquoready willing and able buyerrdquo who
submits ldquohighest cash offerrdquo
Texas Local Govrsquot Code 272001(j)
HIGHER EDUCATION
A political subdivision may donate
exchange convey sell or lease land
improvements or any other interest in real
property to an institution of higher
educationhellip to promote a public purpose
related to higher education The political
subdivision shall determine the terms and
conditions of the transaction so as to
effectuate and maintain the public purpose A
political subdivision may donate exchange
convey sell or lease the real property
interest for less than its fair market
value and without complying with
the notice and bidding requirements
of Subsection (a)
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
(Pinkacre)
(Pinkacre)
Texas Local Govrsquot Code 253008
SALE OF REAL PROPERTY BY PUBLIC AUCTION
(a) The governing body of a municipality may sell real property owned by the municipality by public
auction or by sealed bid under Section 272001
(b) To sell real property by public auction the governing body of a municipality shall publish notice of
the auction before the 20th day before the date the auction is held The notice for sale of the real
property must be published once a week for three consecutive weeks before the date the auction
is held in a newspaper of general circulation in the county in which the municipality is located and
if the real property is located in another county in a newspaper of general circulation in the
county in which the real property is located The notice must include a description of the real
property including its location and the date time and location at which the auction is to be held
Must be sold to highest bidder
Texas Local Govrsquot Code Ch 253
EXCEPTIONS
253002 Islandsflatssubmerged lands
253003 Federal property
253010 Housing nonprofits
253011 Nonprofits
253012 EDCs 20000 gt
Texas Local Govrsquot Code 272001
NOTICE OF SALE OR EXCHANGE OF LAND BY POLITICAL SUBDIVISION EXCEPTIONS
(a) Except for the types of land and interests covered by Subsection (b) (g) (h) (i) (j) or (l) and except as
provided by Section 253008 before land owned by a political subdivision of the state may be sold or
exchanged for other land notice to the general public of the offer of the land for sale or exchange must
be published in a newspaper of general circulation in either the county in which the land is located or if
there is no such newspaper in an adjoining county The notice must include a description of the land
including its location and the procedure by which sealed bids to purchase the land or offers to
exchange the land may be submitted The notice must be published on two separate dates and the sale
or exchange may not be made until after the 14th day after the date of the second publication
Sell to bidder providing ldquobest benefitrdquo
Texas Local Govrsquot Code 272001(b)
EXCEPTIONS
Narrow stripsweirdly-shaped
parcels of land
Streets or alleys
Independent foundation
Governmental entityeminent domain
Reinvestment zone
Texas Local Govrsquot Code 253014
BROKER AGREEMENTS AND FEES FOR SALE OF REAL
PROPERTY BY HOME-RULE MUNICIPALITIES
Governing body may contract with a broker to sell
must list the property for at least 30 days
Sell to ldquoready willing and able buyerrdquo who
submits ldquohighest cash offerrdquo
Texas Local Govrsquot Code 272001(j)
HIGHER EDUCATION
A political subdivision may donate
exchange convey sell or lease land
improvements or any other interest in real
property to an institution of higher
educationhellip to promote a public purpose
related to higher education The political
subdivision shall determine the terms and
conditions of the transaction so as to
effectuate and maintain the public purpose A
political subdivision may donate exchange
convey sell or lease the real property
interest for less than its fair market
value and without complying with
the notice and bidding requirements
of Subsection (a)
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
(Pinkacre)
Texas Local Govrsquot Code 253008
SALE OF REAL PROPERTY BY PUBLIC AUCTION
(a) The governing body of a municipality may sell real property owned by the municipality by public
auction or by sealed bid under Section 272001
(b) To sell real property by public auction the governing body of a municipality shall publish notice of
the auction before the 20th day before the date the auction is held The notice for sale of the real
property must be published once a week for three consecutive weeks before the date the auction
is held in a newspaper of general circulation in the county in which the municipality is located and
if the real property is located in another county in a newspaper of general circulation in the
county in which the real property is located The notice must include a description of the real
property including its location and the date time and location at which the auction is to be held
Must be sold to highest bidder
Texas Local Govrsquot Code Ch 253
EXCEPTIONS
253002 Islandsflatssubmerged lands
253003 Federal property
253010 Housing nonprofits
253011 Nonprofits
253012 EDCs 20000 gt
Texas Local Govrsquot Code 272001
NOTICE OF SALE OR EXCHANGE OF LAND BY POLITICAL SUBDIVISION EXCEPTIONS
(a) Except for the types of land and interests covered by Subsection (b) (g) (h) (i) (j) or (l) and except as
provided by Section 253008 before land owned by a political subdivision of the state may be sold or
exchanged for other land notice to the general public of the offer of the land for sale or exchange must
be published in a newspaper of general circulation in either the county in which the land is located or if
there is no such newspaper in an adjoining county The notice must include a description of the land
including its location and the procedure by which sealed bids to purchase the land or offers to
exchange the land may be submitted The notice must be published on two separate dates and the sale
or exchange may not be made until after the 14th day after the date of the second publication
Sell to bidder providing ldquobest benefitrdquo
Texas Local Govrsquot Code 272001(b)
EXCEPTIONS
Narrow stripsweirdly-shaped
parcels of land
Streets or alleys
Independent foundation
Governmental entityeminent domain
Reinvestment zone
Texas Local Govrsquot Code 253014
BROKER AGREEMENTS AND FEES FOR SALE OF REAL
PROPERTY BY HOME-RULE MUNICIPALITIES
Governing body may contract with a broker to sell
must list the property for at least 30 days
Sell to ldquoready willing and able buyerrdquo who
submits ldquohighest cash offerrdquo
Texas Local Govrsquot Code 272001(j)
HIGHER EDUCATION
A political subdivision may donate
exchange convey sell or lease land
improvements or any other interest in real
property to an institution of higher
educationhellip to promote a public purpose
related to higher education The political
subdivision shall determine the terms and
conditions of the transaction so as to
effectuate and maintain the public purpose A
political subdivision may donate exchange
convey sell or lease the real property
interest for less than its fair market
value and without complying with
the notice and bidding requirements
of Subsection (a)
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Texas Local Govrsquot Code 253008
SALE OF REAL PROPERTY BY PUBLIC AUCTION
(a) The governing body of a municipality may sell real property owned by the municipality by public
auction or by sealed bid under Section 272001
(b) To sell real property by public auction the governing body of a municipality shall publish notice of
the auction before the 20th day before the date the auction is held The notice for sale of the real
property must be published once a week for three consecutive weeks before the date the auction
is held in a newspaper of general circulation in the county in which the municipality is located and
if the real property is located in another county in a newspaper of general circulation in the
county in which the real property is located The notice must include a description of the real
property including its location and the date time and location at which the auction is to be held
Must be sold to highest bidder
Texas Local Govrsquot Code Ch 253
EXCEPTIONS
253002 Islandsflatssubmerged lands
253003 Federal property
253010 Housing nonprofits
253011 Nonprofits
253012 EDCs 20000 gt
Texas Local Govrsquot Code 272001
NOTICE OF SALE OR EXCHANGE OF LAND BY POLITICAL SUBDIVISION EXCEPTIONS
(a) Except for the types of land and interests covered by Subsection (b) (g) (h) (i) (j) or (l) and except as
provided by Section 253008 before land owned by a political subdivision of the state may be sold or
exchanged for other land notice to the general public of the offer of the land for sale or exchange must
be published in a newspaper of general circulation in either the county in which the land is located or if
there is no such newspaper in an adjoining county The notice must include a description of the land
including its location and the procedure by which sealed bids to purchase the land or offers to
exchange the land may be submitted The notice must be published on two separate dates and the sale
or exchange may not be made until after the 14th day after the date of the second publication
Sell to bidder providing ldquobest benefitrdquo
Texas Local Govrsquot Code 272001(b)
EXCEPTIONS
Narrow stripsweirdly-shaped
parcels of land
Streets or alleys
Independent foundation
Governmental entityeminent domain
Reinvestment zone
Texas Local Govrsquot Code 253014
BROKER AGREEMENTS AND FEES FOR SALE OF REAL
PROPERTY BY HOME-RULE MUNICIPALITIES
Governing body may contract with a broker to sell
must list the property for at least 30 days
Sell to ldquoready willing and able buyerrdquo who
submits ldquohighest cash offerrdquo
Texas Local Govrsquot Code 272001(j)
HIGHER EDUCATION
A political subdivision may donate
exchange convey sell or lease land
improvements or any other interest in real
property to an institution of higher
educationhellip to promote a public purpose
related to higher education The political
subdivision shall determine the terms and
conditions of the transaction so as to
effectuate and maintain the public purpose A
political subdivision may donate exchange
convey sell or lease the real property
interest for less than its fair market
value and without complying with
the notice and bidding requirements
of Subsection (a)
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Texas Local Govrsquot Code Ch 253
EXCEPTIONS
253002 Islandsflatssubmerged lands
253003 Federal property
253010 Housing nonprofits
253011 Nonprofits
253012 EDCs 20000 gt
Texas Local Govrsquot Code 272001
NOTICE OF SALE OR EXCHANGE OF LAND BY POLITICAL SUBDIVISION EXCEPTIONS
(a) Except for the types of land and interests covered by Subsection (b) (g) (h) (i) (j) or (l) and except as
provided by Section 253008 before land owned by a political subdivision of the state may be sold or
exchanged for other land notice to the general public of the offer of the land for sale or exchange must
be published in a newspaper of general circulation in either the county in which the land is located or if
there is no such newspaper in an adjoining county The notice must include a description of the land
including its location and the procedure by which sealed bids to purchase the land or offers to
exchange the land may be submitted The notice must be published on two separate dates and the sale
or exchange may not be made until after the 14th day after the date of the second publication
Sell to bidder providing ldquobest benefitrdquo
Texas Local Govrsquot Code 272001(b)
EXCEPTIONS
Narrow stripsweirdly-shaped
parcels of land
Streets or alleys
Independent foundation
Governmental entityeminent domain
Reinvestment zone
Texas Local Govrsquot Code 253014
BROKER AGREEMENTS AND FEES FOR SALE OF REAL
PROPERTY BY HOME-RULE MUNICIPALITIES
Governing body may contract with a broker to sell
must list the property for at least 30 days
Sell to ldquoready willing and able buyerrdquo who
submits ldquohighest cash offerrdquo
Texas Local Govrsquot Code 272001(j)
HIGHER EDUCATION
A political subdivision may donate
exchange convey sell or lease land
improvements or any other interest in real
property to an institution of higher
educationhellip to promote a public purpose
related to higher education The political
subdivision shall determine the terms and
conditions of the transaction so as to
effectuate and maintain the public purpose A
political subdivision may donate exchange
convey sell or lease the real property
interest for less than its fair market
value and without complying with
the notice and bidding requirements
of Subsection (a)
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Texas Local Govrsquot Code 272001
NOTICE OF SALE OR EXCHANGE OF LAND BY POLITICAL SUBDIVISION EXCEPTIONS
(a) Except for the types of land and interests covered by Subsection (b) (g) (h) (i) (j) or (l) and except as
provided by Section 253008 before land owned by a political subdivision of the state may be sold or
exchanged for other land notice to the general public of the offer of the land for sale or exchange must
be published in a newspaper of general circulation in either the county in which the land is located or if
there is no such newspaper in an adjoining county The notice must include a description of the land
including its location and the procedure by which sealed bids to purchase the land or offers to
exchange the land may be submitted The notice must be published on two separate dates and the sale
or exchange may not be made until after the 14th day after the date of the second publication
Sell to bidder providing ldquobest benefitrdquo
Texas Local Govrsquot Code 272001(b)
EXCEPTIONS
Narrow stripsweirdly-shaped
parcels of land
Streets or alleys
Independent foundation
Governmental entityeminent domain
Reinvestment zone
Texas Local Govrsquot Code 253014
BROKER AGREEMENTS AND FEES FOR SALE OF REAL
PROPERTY BY HOME-RULE MUNICIPALITIES
Governing body may contract with a broker to sell
must list the property for at least 30 days
Sell to ldquoready willing and able buyerrdquo who
submits ldquohighest cash offerrdquo
Texas Local Govrsquot Code 272001(j)
HIGHER EDUCATION
A political subdivision may donate
exchange convey sell or lease land
improvements or any other interest in real
property to an institution of higher
educationhellip to promote a public purpose
related to higher education The political
subdivision shall determine the terms and
conditions of the transaction so as to
effectuate and maintain the public purpose A
political subdivision may donate exchange
convey sell or lease the real property
interest for less than its fair market
value and without complying with
the notice and bidding requirements
of Subsection (a)
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Texas Local Govrsquot Code 272001(b)
EXCEPTIONS
Narrow stripsweirdly-shaped
parcels of land
Streets or alleys
Independent foundation
Governmental entityeminent domain
Reinvestment zone
Texas Local Govrsquot Code 253014
BROKER AGREEMENTS AND FEES FOR SALE OF REAL
PROPERTY BY HOME-RULE MUNICIPALITIES
Governing body may contract with a broker to sell
must list the property for at least 30 days
Sell to ldquoready willing and able buyerrdquo who
submits ldquohighest cash offerrdquo
Texas Local Govrsquot Code 272001(j)
HIGHER EDUCATION
A political subdivision may donate
exchange convey sell or lease land
improvements or any other interest in real
property to an institution of higher
educationhellip to promote a public purpose
related to higher education The political
subdivision shall determine the terms and
conditions of the transaction so as to
effectuate and maintain the public purpose A
political subdivision may donate exchange
convey sell or lease the real property
interest for less than its fair market
value and without complying with
the notice and bidding requirements
of Subsection (a)
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Texas Local Govrsquot Code 253014
BROKER AGREEMENTS AND FEES FOR SALE OF REAL
PROPERTY BY HOME-RULE MUNICIPALITIES
Governing body may contract with a broker to sell
must list the property for at least 30 days
Sell to ldquoready willing and able buyerrdquo who
submits ldquohighest cash offerrdquo
Texas Local Govrsquot Code 272001(j)
HIGHER EDUCATION
A political subdivision may donate
exchange convey sell or lease land
improvements or any other interest in real
property to an institution of higher
educationhellip to promote a public purpose
related to higher education The political
subdivision shall determine the terms and
conditions of the transaction so as to
effectuate and maintain the public purpose A
political subdivision may donate exchange
convey sell or lease the real property
interest for less than its fair market
value and without complying with
the notice and bidding requirements
of Subsection (a)
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Texas Local Govrsquot Code 272001(j)
HIGHER EDUCATION
A political subdivision may donate
exchange convey sell or lease land
improvements or any other interest in real
property to an institution of higher
educationhellip to promote a public purpose
related to higher education The political
subdivision shall determine the terms and
conditions of the transaction so as to
effectuate and maintain the public purpose A
political subdivision may donate exchange
convey sell or lease the real property
interest for less than its fair market
value and without complying with
the notice and bidding requirements
of Subsection (a)
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Texas Local Govrsquot Code 272001(l)
ANOTHER POLITICAL SUBDIVISION
hellip A political subdivision may donate or sell for less
than fair market value a designated parcel of land or
an interest in real property to another political
subdivision if
(1) the land or interest will be used by the political
subdivision to which it is donated or sold in carrying
out a purpose that benefits the public interest of the
donating or selling political subdivision
(2) the donation or sale of the land or interest is made
under terms that effect and maintain the public
purpose for which the donation or sale is made and
(3) the title and right to possession of the land or
interest revert to the donating or selling political
subdivision if the acquiring political subdivision ceases
to use the land or interest in carrying out the public
purpose
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Texas Local Govrsquot Code 272001(g)
LOW- OR MODERATE-INCOME HOUSING
A political subdivision may acquire or assemble land or real property interest except by condemnation
and sell exchange or otherwise convey the land or interests to an entity for the development of low-
income or moderate-income housing The political subdivision shall determine the terms and conditions of
the transactions so as to effectuate and maintain the public purpose If conveyance of land under this
subsection serves a public purpose the land may be conveyed for less than its fair market value In this
subsection entity means an individual corporation partnership or other legal entity
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Texas Local Govrsquot Code 253001
SALE OF PARK LAND MUNICIPAL BUILDING SITE OR ABANDONED ROADWAY
(a) hellipthe governing body of a municipality may sell and convey land or an interest in land that the municipality owns holds or claims as a public square park or site for the city hall or
other municipal building or that is an abandoned part of a street or alleyhellip
(b) Land owned held or claimed as a public square or park may not be sold
unless the issue of the sale is submitted to the qualified voters of the
municipality at an election and is approved by a majority of the votes
received at the electionhellip
ANDhellip Texas Parks and Wildlife Code Ch 26
26001 Findings no ldquofeasible and prudent alternativerdquo
26002 Notice and public hearing
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
DOCUMENTS
Deeds
Purchase and sale agreements
Surveys
Title Insurance
Closing Documents
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
DEEDS
Implied covenants Warranties
Tex Property Code Sec 5023
General warranty deed
1 Before title passes to grantee grantor has not conveyed
the estate or any interest in the estate to a person other
than the grantee and
2 At the time of conveyance the estate is free from
encumbrances
The GWD obligates the grantor to indemnify the grantee
against any loss resulting from a title defect or from any encumbrances that arose before the conveyance City of
Beaumont v Moore 202 SW2d 448 453 (Tex 1947)
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Special warranty deed
The grantor warrants to defend the title conveyed to the
grantee only to the extent that claims are made by
through or under the grantor The SWD covers only title
defects going back to the grantor not to the grantorrsquos
predecessors in title
BTU By Through or Under
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Tex Property Code Sec 5022(b)
Deed without warranty
The DWW passes grantorrsquos title to the grantee with an express
exclusion of warranties A DWW relieves the grantor of any
warranty responsibility for title defects yet provides the grantee a
true deed which transfers title--unlike a quitclaim
So if the grantor has title to the property but wonrsquot warrant title a
deed without warranty is preferable to a quitclaim
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Quitclaim (not a) deed
Conveys only the right title and interest which may be none
Does not convey ldquoafter-acquiredrdquo title (title acquired after the date of the
execution and delivery of the quitclaim ldquodeedrdquo)
No recourse by the grantee or any subsequent owner of the property against the
grantor
A quitclaim gives notice to the grantee that title to the property may not be clear
so the grantee is not a bona fide purchaser for value
An adverse possessor cannot rely on a quitclaim as a basis for claiming title to
property under the Texas five-year limitations statute Tex Civ Prac amp Rem
Code sect 16025 Porter v Wilson 389 SW2d 650 (Tex 1965)
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
SALES CONTRACTS
Offer and Acceptance
Seller and Buyer
Property
Underwriter
Escrow Agent
Consideration
Earnest Money
County for Performance
Deadlines
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Who (typically) pays
BUYER
Escrow fees
Document preparation
Recording charges for title transfer
Prorated share of taxes
Loan charges and fees
Title insurance premium
(lenderrsquos policy)
Survey
Inspection fees
Negotiable
SELLER
Escrow fees
Judgments liens against seller
Recording charges to clear
Title Insurance premium
(ownerrsquos policy)
Outstanding assessment
Prorated share of taxes
Delinquent taxes
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Survey
1A Comprehensive
Focus is for
insuring title
Boundaries
Easements
Encumbrances
1B Boundary Survey
NOT for insuring title
Perimeters
Deed lines
Occupation lines
Rights of Way
Easements
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Title Insurance
Texas Insurance Code Sec 2551003
The Texas Department of Insurance promulgates the Basic Manual
of Rules Rates and Forms for the Writing of Title Insurance in the
State of Texas (the Basic Manual)
Title commitments
Title policies
- Procedural Rules
- Rate Rules
- Forms of commitments policies coverage and
endorsements
- Claim procedures
- Bulletins issued by the Texas Department of
Insurance
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Schedules
Schedule A-Commitment
Effective Date
Guaranty File (GF)
Type of Policy
Name of Insured
Nature of Interest
Record title owner
Legal description
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Schedules
Schedule B-Exceptions to Coverage
Eight Standard Exceptions
- Restrictive Covenants
- Survey
- Homesteadcommunity property
- Streamwater rights
- Taxesassessments
- Docs creating insuredrsquos interests
- Construction
- Subordinate liens
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
Schedules
Schedule C-Curative Matters
Four Standard Requirements (Seller)
- Executionnotarizing docs
- Evidence of
- No parties in possession
- Taxes paid
- Improvements completedcontractors paid
- Legal access to property
- (alsomdashDeed of Trust is valid)
Schedule D-Disclosures
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
1 Who is the buyer (Governing law)
2 What kind of useproperty (Governing law) ndash
Highest bid FMV Appraisal
3 Negotiations
Deed
Purchase and sale agreementinterlocal
agreementother
Schedules and deadlines
Survey
Title commitment (buyer)
(becomes title insurance policy)
4 Closing documents
Execute Deed PSA
HUD settlement
statementdisclosuresaffidavits
In sumhellip
top related