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Buyer's Guide
Homestead Law in Texas
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Briefly, the 'residential
homestead' refers to the lot or parcel of land upon which
the residence of the family or single adult person is
located and anything which is a part of that land is
subject to the homestead exemption laws of the State of
Texas. Those laws primarily provide for the security of a
family's home, creditors, save and except the holders of
purchase money liens, liens for improvement and taxes.
CONCERNS OF ISSUING TITLE
INSURANCE, MUST THEN BE THE INSURING OF LOANS ON HOMESTEAD
PROPERTIES. As the homestead laws presently exist, a
homestead may be validly mortgaged for three purposes
only:
- Purchase money.
- Making improvements to
the homestead.
- Payment of real property
taxes or discharge of real property tax liens.
Loans made against the
homestead for any other purpose are not considered valid
and are, therefore, uninsurable.
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