Buying a home from a relative in Texas

[slm2009]

What is the name of your state (only U.S. law)? Texas

We are scheduled to close Friday, Oct 30th. My mother is selling her homesteaded property to me and my husband. She and I lived together in the home until I married, approximately a year ago. She is now living with my grandparents to help care for them and doesn't have a need to purchase a home. However, the title company contacted me this afternoon to say that because she hasn't secured or homesteaded other property, the sell can't take place. The title company states that this law is in place to protect the "selling" relative.


Please advise.

 

[HomeGuru]

What is the name of your state (only U.S. law)? Texas

We are scheduled to close Friday, Oct 30th. My mother is selling her homesteaded property to me and my husband. She and I lived together in the home until I married, approximately a year ago. She is now living with my grandparents to help care for them and doesn't have a need to purchase a home. However, the title company contacted me this afternoon to say that because she hasn't secured or homesteaded other property, the sell can't take place. The title company states that this law is in place to protect the "selling" relative.


Please advise.

**A: and when you asked the title company for the section of the state statute in writing, what did they tell you?

 

[slm2009]

It's the underwriters interpretation of the law. The lender has done his due diligence and made several calls to title attorney's and other title companies -everyone is under the same agreement - it's unheard of. We have now gone with another title company and it's seems that we're good to go. I'm not familiar with the laws but it seems to me that if this is only ONE underwriters interpretaion then someone should hold that underwriter accountable.

 

[HomeGuru]

It's the underwriters interpretation of the law. The lender has done his due diligence and made several calls to title attorney's and other title companies -everyone is under the same agreement - it's unheard of. We have now gone with another title company and it's seems that we're good to go. I'm not familiar with the laws but it seems to me that if this is only ONE underwriters interpretaion then someone should hold that underwriter accountable.

**A: you have a point.