I sold a house approx. 15 months ago via seller finance. (First time!) Now, they are in arrears on their property taxes, and late on their monthly payment. They initially paid me $10,000 down and we’ve agreed that I will pay the property taxes and they will just give the house back to me - and call it even. Can anyone tell me what paperwork, forms etc…do I need in order to transfer the title back into my name (Texas). The owner has joined the military and is suppose to be leaving tomorrow, so time is of the essence!
Just have them sign a warranty deed to transfer the title back into your name. It is very simple. Any title company can do it for you. Or you can go to the clerk of courts law library and they will help you draw up the form yourself and all you have to pay for is to get it recorded.
I recently took a property back like that - deed in lieu of foreclosure.
In addition to the warranty deed I also had my atty draw up a DIL agreement stipulating the details just in case the homeowner tries to come back and make a claim that I did something fraudulent.