Full question:
I sold some property (200+ acres) in Texas over 20 years ago. The buyer never finished completely paying for the property and the buyer has since passed away. What recourse do I have to get my property back? I financed the property and the title was never signed off on by me for a clear title. I just never had the money to take action on this.
- Category: Real Property
- Subcategory: Sales
- Date:
- State: Texas
Answer:
A lien is a legal claim on property to secure payment of a debt, often related to that property. It allows the lien holder to retain possession until the debt is paid. Liens can arise from contracts or by law. There are two main types: particular liens, which are specific to a property, and general liens, which apply broadly to a debtor's assets.
To create a valid lien, the claimant must have ownership or a right to it, possess the property with the owner's consent, and have an agreement, either express or implied. If the debt remains unpaid, the lien holder may foreclose on the property.
In your case, several factors will influence your options. These include whether a security interest was created, if the buyer's estate has gone through probate, whether you received notice of the probate proceedings, and if the timeframe for creditors to claim against the estate has expired. Additionally, if the property has been sold to a new buyer who was unaware of the payment default, that could complicate matters.
I recommend consulting a local attorney who can evaluate your specific situation and documents.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.