mortgages

Question 1

When does the statute of limitations begin to run for enforcement of an installment lien on real property?

Answer 1

Under Texas Civil Practice and Remedies Code 16.035(e) states that the statute of limitations is four years from the date of last installment or acceleration.

Question 2

A document is presumed to be fraudulent if it purports to create a lien or assert a claim against real property and meets the following criteria.

Answer 2

1. It is not a document or instrument provided for by the constitution or laws of Texas or the United States; 2) it is not created with the express or implied consent of the property owner or obligor; and 3)it is not an equitable, constructive, or other lien created by a court.

Question 3

How must notice be sent for a foreclosure?

Answer 3

Tex. Prop. Code 51.002(b) requires notice to be sent to the last known address of the debtor. If the property being foreclosed is the debtor’s personal residence, the notice must be sent to the residence.

Question 4

Can MERS be a holder of a note?

Answer 4

No

Question 5

What is a note endorsed in blank?

Answer 5

A note endorsed in blank becomes payable to bearer and may be negotiated by transfer of possession alone until endorsed.