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Texas Transaction Guide--Legal Forms
 
Copyright 2016, Matthew Bender & Company, Inc., a member of the LexisNexis Group.


16-72A Texas Transaction Guide--Legal Forms 72A.syn


Title

Modifications of Real Property Security Agreement

Author

Herbert S. Kendrick;John J. Kendrick, Jr.;and Matthew Bender's Editorial Staff

Chapter Summary


ABSTRACT TEXT:

This chapter covers three areas of law relating to the modification of real property security agreements: (1) subordination of security interests, (2) release and extension of security interests, and (3) assumption agreements, assignments, and substitution of trustees. It first discusses lien priorities established by law, the manner in which parties may effectively agree to alter those priorities, and the reasons for changing them. Next, the chapter covers full and partial releases of liens on real property, and sets forth the legal requirements of agreements to extend the payment period of the loan (extension agreements).

Finally, the chapter covers the assumption of the debtor's obligation by subsequent grantees of the encumbered property, and the substitution of trustees. The discussion of assignments includes outright noncollateral assignments as well as collateral assignments made to secure other obligations. It provides forms for both complete agreements and clauses that may be inserted into lien instruments.

Texas Transaction Guide: Legal Forms is the most comprehensive and frequently updated resource on Texas legal transactions. It covers the entire transaction spectrum: business entities, wills and trusts, commercial transactions, real estate transactions, and personal transactions. Each chapter provides a chapter scope note, detailed outline, research guide, legal background, practice guide, and forms with commentaries on usage.

CORE TERMS:

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RELATED CHAPTERS: (View)

The use and creation of real property security agreements is considered in Chapter 72, and nonjudicial foreclosure and forfeiture under those agreements are covered in Chapter 72B. For treatment of collateral transfers in general, see Chapter 63, Secured Transactions. The transfer of promissory notes in general is covered in Chapter 63A, Negotiable Instruments. Leases are discussed in Chapters 81B- 81F, and subdivisions are examined in Chapter 82. For a specific discussion of mechanic's liens, see Chapter 84.

OTHER RELATED PUBLICATIONS:

See Dorsaneo, Texas Litigation Guide (Matthew Bender) for detailed analysis of complex civil litigation issues, as well as procedural checklists and time-tested forms for pre-trial, trial, and appellate practice.

See Current Legal Forms with Tax Analysis (Matthew Bender) for a wealth of sample forms, drafting guidance and expert legal commentary to assist in the fundamental, and often time-consuming, task of document drafting.

See Powell on Real Property (Matthew Bender) for expert analysis on all aspects of real property law that is national in scope.

See Purchase and Sale of Real Property (Matthew Bender) for discussion of ownership entities, brokers, binders, options, taxes, financing, environmental issues, contracts, deeds, title, closing, recording, and interstate and foreign ownership transactions.

See Texas Real Estate Guide (Matthew Bender) for over 500 Texas real estate transaction and litigation forms, step-by-step checklists, and valuable commentary.
 
 
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