Texas Property Code

§ 5.079 — TITLE TRANSFER

PR § 5.079Title 2. CONVEYANCES · Ch. 5. CONVEYANCES · Art. D. EXECUTORY CONTRACT FOR CONVEYANCE

Statute text

(a)A recorded executory contract shall be the same as a deed with a vendor's lien. The vendor's lien is for the amount of the unpaid contract price, less any lawful deductions, and may be enforced by foreclosure sale under Section 5.066 or by judicial foreclosure. A general warranty is implied unless otherwise limited by the recorded executory contract. If an executory contract has not been recorded or converted under Section 5.081, the seller shall transfer recorded, legal title of the property covered by the executory contract to the purchaser not later than the 30th day after the date the seller receives the purchaser's final payment due under the contract.

(b)A seller who violates Subsection (a) is liable to the purchaser for:

(1)liquidated damages in the amount of:

(A)$250 a day for each day the seller fails to transfer the title to the purchaser during the period that begins the 31st day and ends the 90th day after the date the seller receives the purchaser's final payment due under the contract; and

(B)$500 a day for each day the seller fails to transfer title to the purchaser after the 90th day after the date the seller receives the purchaser's final payment due under the contract; and

(2)reasonable attorney's fees.

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Legislative history

Acts 2015, 84th Leg., R.S., Ch. 996 (H.B. 311), Sec. 7, eff. September 1, 2015.