Texas Contract for Deed related forms. These forms comply with the Texas law, and deal with matters related to Contract for Deed.
All Texas Contract for Deed Forms for Residential Use - Land Contract, Agreement for Deed, Executory Contract
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An executory contract is a contract that has not yet been fully performed or fully executed. It is a contract in which both sides still have important performance remaining.
A contract for deed, also called a land contract or contract for sale, is a financing option for buyers who do not qualify for a mortgage loan to purchase property. In a contract for deed, the seller finances the purchase of the property, much like a mortgage company in a more traditional mortgage situation.
A contract for deed is a different form of seller-finance. In a contract for deed, the seller keeps the title to the property and the buyer does not receive a deed to the property.In Texas, contracts for deed on residential property are considered potentially predatory and subject to strict consumer-protection laws.
Recording Requirement No longer. Section 5.076(a) states that the seller shall record the executory contract, including the attached disclosure statement . . . on or before the 30th day after the date the contract is executed. Additionally, any instrument that terminates the contract must be recorded.