Texas Property Code 5.016 Questions
The new law passed January 1, 2008. It requires a FULL DISCLOSURE Form, completed by the Seller, be sent to the Lender and Buyer when a title transfer occurs, even within a trust. The only exception is if the Buyer purchases title insurance.
How does this impact "subject To" deals and wraparound mortgages in Texas? I have 2 possible deals and I want to comply with the new law.
I have also heard Wells Fargo is sending out notices stating the new owner must "qualify" to take over he payments.
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