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Updated November 3, 2020: A contract for deed in Texas is a contract between a seller and a purchaser whereby the owner of property or land retains the title or deed until the purchaser finishes making the installments of the agreed-upon purchase price.

If the seller breaches, then the buyer can sue for compensation, return of their good-faith deposit, and reasonable expenses. The buyer can also request that the contract be terminated.

Under Texas law, a forged deed is void. However, a deed procured by fraud is voidable rather than void. The legal terms “Void” and “Voidable” sound alike, but they are vastly different. A void instrument passes no title, and is treated as a nullity.

Contracts for deeds have been popular methods for purchasing real property in Texas for some time. A contract for deed is an agreement between a seller and buyer to purchase real property over a period of time.

Contract for deed is a contract for the sale of land which provides that the buyer will acquire possession of the land immediately and pay the purchase price in installments over a period of time, but the seller will retain legal title until all payments are made.

The Land Contract or Memorandum must state that the buyer is responsible for paying the property taxes. The Land Contract or Memorandum must be selling the property. Option to buy or lease agreements will not qualify for the homestead and mortgage deductions. The Land Contract or Memorandum must be recorded.

A contract for deed is an agreement for buying property without going to a mortgage lender. The buyer agrees to pay the seller monthly payments, and the deed is turned over to the buyer when all payments have been made.

Record (file) your contract for deed in the deed records of the county where the property is located. Once recorded, the contract is treated the same as warranty deed with a vendor's lien. If you get behind on payments, the seller must post, file, and serve notice of sale as a foreclosure before you can be removed.

Prop. Code § 5.077(d)(1); Failure by a Seller to transfer legal, recorded title to the property within 30 days after receiving the Buyer's final payment in violation of Prop. Code § 5.079, gives rise to liquidated damages of $250/day for days 31-90 (following receipt of final payment) and $500/day thereafter.