Utah Subordination of Vendor's Lien Retained by Grantor in Warranty Deed

State:
Multi-State
Control #:
US-OG-138
Format:
Word; 
Rich Text
Instant download

Description

If a person has purchased land, and the grantor in the deed reserves a vendors lien, that lien is superior to any subsequent grants by the owner of the land, including any oil and gas lease entered into at a later date. This form provides for the lien holder to subordinate a retained vendor's lien to an oi land gas lease on the lands that are the subject of the vendor's lien.

Utah Subordination of Vendor's Lien Retained by Granter in Warranty Deed is a legal document that allows property owners in Utah to retain a lien on the property they are selling. This lien, also known as a vendor's lien, gives the granter the right to recoup any unpaid balance from the purchase price, ensuring they are still protected even after the property has been transferred. In Utah, there are two main types of Subordination of Vendor's Lien Retained by Granter in Warranty Deed: 1. Absolute Subordination: This type of subordination means that the vendor's lien is completely subordinate to any other liens or encumbrances on the property. This could include mortgages, deeds of trusts, or any other types of loans secured by the property. In the event of a foreclosure or sale, the vendor's lien would be satisfied only after all other liens have been paid off. 2. Partial Subordination: A partial subordination agreement allows the vendor's lien to have a priority over certain specified liens or encumbrances, such as a second mortgage or personal loan. The granter and buyer agree on which specific liens will be subordinate to the vendor's lien, providing the granter with a higher priority to recoup any unpaid amounts. Keywords: Utah, Subordination of Vendor's Lien, Retained by Granter, Warranty Deed, legal document, property owners, vendor's lien, purchase price, protected, transferred, Absolute Subordination, liens, encumbrances, mortgages, deeds of trusts, loans, foreclosure, sale, Partial Subordination, priority, second mortgage, personal loan.

Free preview
  • Preview Subordination of Vendor's Lien Retained by Grantor in Warranty Deed
  • Preview Subordination of Vendor's Lien Retained by Grantor in Warranty Deed

How to fill out Utah Subordination Of Vendor's Lien Retained By Grantor In Warranty Deed?

It is possible to devote several hours online searching for the authorized papers design that meets the federal and state requirements you will need. US Legal Forms gives 1000s of authorized varieties which are reviewed by experts. It is simple to down load or print out the Utah Subordination of Vendor's Lien Retained by Grantor in Warranty Deed from our service.

If you already possess a US Legal Forms accounts, it is possible to log in and click on the Obtain switch. After that, it is possible to comprehensive, edit, print out, or indication the Utah Subordination of Vendor's Lien Retained by Grantor in Warranty Deed. Each authorized papers design you buy is the one you have permanently. To have yet another backup for any purchased type, go to the My Forms tab and click on the related switch.

Should you use the US Legal Forms web site the first time, stick to the straightforward instructions listed below:

  • Initially, make sure that you have chosen the best papers design to the region/town that you pick. See the type explanation to make sure you have picked the correct type. If readily available, take advantage of the Review switch to check with the papers design at the same time.
  • If you wish to find yet another variation of your type, take advantage of the Search field to discover the design that meets your needs and requirements.
  • Once you have located the design you want, simply click Purchase now to move forward.
  • Choose the rates strategy you want, enter your references, and sign up for a merchant account on US Legal Forms.
  • Complete the transaction. You can use your bank card or PayPal accounts to pay for the authorized type.
  • Choose the file format of your papers and down load it to the device.
  • Make alterations to the papers if needed. It is possible to comprehensive, edit and indication and print out Utah Subordination of Vendor's Lien Retained by Grantor in Warranty Deed.

Obtain and print out 1000s of papers layouts using the US Legal Forms web site, which provides the most important variety of authorized varieties. Use specialist and state-specific layouts to deal with your company or individual demands.

Form popularity

FAQ

A release of lien for a deed of trust securing a loan on commercial real property in Texas. Lenders in Texas customarily use a release of lien when the loan secured by a deed of trust has been paid in full or otherwise satisfied.

Release Of Lien Texas Form To show that a lien has officially been removed on a property, you have to file a document called a ?lien release? in the real property records of the county where the property is located. A release of lien simply means removing the lien claim from a specific property.

A warranty deed with vendor's lien is one way to show a debt for the purchase of a property. If the debt goes unpaid, the recourse action for the original owner is easily proven in court. For this lien to be removed, the buyer has to pay off the lien.

The statutes of limitation for collecting (or foreclosing) on both the vendor's lien and deed of trust is four years in Texas. If no legal action has been filed for collection on the liens for four years after the liens ma- ture, there is indication the liens have been paid.

In Texas when a vendor sells property and there is unpaid purchase price, a vendor's lien arises against the property to secure the payment of the unpaid purchase price. An express ven- dor's lien can be reserved in the deed and/or in the real estate lien note.

To start, a ?Deed? is the name of the most common document used to transfer title of real estate. And the most common deeds are the General Warranty Deed and the Special Warranty Deed. The primary difference between these two deeds is the extent of the ?warranties? the seller is giving to the buyer.

Interesting Questions

More info

This form provides for the lien holder to subordinate a retained vendor's lien to an oi land gas lease on the lands that are the subject of the vendor's lien. (2) A preconstruction lien is subordinate to an interest securing a bona fide loan if and to the extent that the lien covers preconstruction service provided ...Once the lien is paid; there is a release of the lien, and the warranty deed is still intact. It is a two-part process, a warranty deed and the vendor's lien. TO HAVE AND TO HOLD the above described premises, together with all and singular the rights and appurtenances thereto in anywise belonging, unto the said ... If the endorsement being requested includes a change of the effective date, extreme care must be taken to verify that no matters could affect other. The Bank cross-appeals, arguing that the trial court erred in denying summary judgment on its alternative theory of reformation. We reverse and remand for ... UTAH CASE LAW. Under an installment land sale contract, the vendor retains legal title as security for the purchase price of the property. Nevertheless, as a ... by UC Annotated · 1974 — A warranty deed conveys the fee simple title "together with all the appurtenances ... thereof or any other person having a subordinate lien or encumbrance of. by JC Murray · 2006 · Cited by 11 — The guaranty terminates upon the occurrence of certain specified events, such as payment in full of the loan, the successful completion of a fore closure sale, ... by JC Murray · 1991 · Cited by 19 — remainder of the property still subject to the mortgage. In addition, lenders might not want to accept a voluntary conveyance when outstanding subordinate liens ...

Trusted and secure by over 3 million people of the world’s leading companies

Utah Subordination of Vendor's Lien Retained by Grantor in Warranty Deed