Real Estate Law
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1. Can it give a good deed on the property to change ownership? - Yes, because it need not actually do business in the state to own property and transfer property.
2. Would it have standing in a Texas court for any enforcement proceedings regarding the property? - Yes, but only so far as the property is concerned. Because it is not registered, it can't sue and be sued, except so far as the property is concerned. This is called an "in rem" action.
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