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Is it necessary to have a Deed of Trust if you have warranty…

Customer Question
Is it necessary to...

Is it necessary to have a Deed of Trust if you have warranty deed with a vendors lien?

Lawyer's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

Texas

Lawyer's Assistant: Has any paperwork been filed?

Not at this time.

Submitted: 6 months ago.Category: Legal
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Answered in 5 minutes by:
12/18/2017
Lawyer: Ely, Counselor at Law replied 6 months ago
Ely
Ely, Counselor at Law
Category: Legal
Satisfied Customers: 103,582
Experience: Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
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Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

This depends on the situation. Can you please tell me a little more about what has happened and what you wish to achieve here?

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Customer reply replied 6 months ago
I am selling property and I am financing the balance for the individual.
Lawyer: Ely, Counselor at Law replied 6 months ago

Thank you. A deed of trust is a document that creates a legal trust, in which the only asset of which is the purchased real estate. If one is financing the purchase, a deed of trust IS A GOOD IDEA but it really depends on how you structure the deal. It is not 100% mandatory, but again, is a good idea.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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