
Originally Posted by
sheading
The seller retains ownership of the property, only by a lien holder position...unless and IF the buyer defaults on the contract for deed..obviously because of that the seller would have the property back. Being a realtor and a loan office myself I know that and have done it many times.....in contract for deed situations in many states...so I am talking from experience here....it is what i do for a living...
Sorry, but I can't accept your claims since they go against everything I have learned.
Yes, the seller retains title to the property, but a lien holder does NOT have title to a property, a lien holder retains only an interest in the property that must be cleared before the property can be transferred. If title is transferred then it's a mortgage, not a contract for deed.

Originally Posted by
sheading
Also it isn't what TEXAS "likes" it is the right of the seller/buyer to sell his house as he sees fit as long as the morgage company is in agreement...the TEXAS courthouse has to recognized the recorded document.
Wrong again. Check out this site:
Owner Finance Homes Dallas Texas
And I quote; "
Texas lawmakers have cracked down on this unethical rent-to-own home scams by passing new strict laws that put lease purchase transactions in the same category as "contract for deeds", which are another way that shady real estate companies and home sellers have taken advantage of unsuspecting home sellers."
Contract for deed transactions are often on the shady side. They attract people with poor credit who can't find financing. The sellers often HOPE the buyers default, because the contract reverts to a rental lease and they can evict the (now) tenant more easily then foreclosing. Generally such contracts require a down payment and/or a higher than market rental.

Originally Posted by
sheading
The minute you close a Contract for Deed at a title company...you OWN IT!!!
But you generally DO NOT close on a contract for deed. Since title doesn't change no closing is necessary.

Originally Posted by
sheading
the buyers is on the property tax docs and all ...they own it....That gives you the right to homestead....... dot com....end of story...
Not usually! The buyers may be required to pay the taxes as part of the contract. But since they don't have title, they can't deduct taxes, interest OR get a homestead exemption.
There are many threads here where contract for deeds are discussed. I suggest you browse some of them and learn the true facts.