Question

Under Texas law, who owns the property on the day of closing and is responsible for any expenses up to that day (or is owed any rents on a rental property up to that day)?

a) Buyer
b) Seller
c) Real estate agent
d) Title company

Answer 1

In Texas, the seller generally owns the property on the day of closing and is responsible for any expenses up to that day or owed rents on a rental property up to that day.

Step-by-step explanation:

In Texas, the ownership of a property on the day of closing and the responsibility for any expenses up to that day, as well as any owed rents on a rental property up to that day, generally falls on the Seller.

However, it is important to note that the specifics of property ownership and responsibility can vary depending on the terms of the contract between the buyer and seller, as well as any additional agreements or legal provisions.

In some cases, a real estate agent or title company may assist in facilitating the closing process, but they do not typically assume ownership or responsibility for the property.