Question

At what point in the Texas contract for deed process does the buyer receive the deed from the seller?

a) At the beginning of the contract
b) Upon full payment of the purchase price
c) After the inspection period
d) After the closing date
Subject: Arts

Answer 1

In a Texas contract for deed, the buyer receives the deed from the seller upon full payment of the purchase price, signaling the transfer of full legal ownership.

Step-by-step explanation:

In a Texas contract for deed process, the buyer receives the deed from the seller upon full payment of the purchase price. This point in time marks the fulfillment of the contract terms where the buyer has paid all the installments and related costs as agreed upon in the contract. At the beginning of this process, the buyer only obtains equitable title, which gives them the right to obtain full legal title upon completion of payments. The deed transfer at the end marks the change from equitable title to full legal ownership of the property.

Answer: b) Upon full payment of the purchase price