The following paperwork is common and required each time we buy land or sell a ranchette. Many of these documents protect the fund’s position as a lender:
RMLO Package for a Ranchette Sale: This contains all information related to qualifying and approving a borrower. It is assembled by Texas Pride Lending in Dallas.
Title Package for a Ranchette Sale: This is the documentation that is presented and signed by all parties during the sale of a ranchette at a title company.
Sample Deed of Trust for a Loan Against Land: This document secures the fund’s loan with a first lien against the land. It is filed at the courthouse where the property is located.
Sample Promissory Note for a Loan Against Land: This document details the terms of the fund’s land loan.
Sample Collateral Transfer of Note and Lien: This document secures the fund’s loan with a first lien against a note. It is filed at the courthouse where the property is located.
Sample Promissory Note against a Land Note: This document details the terms of the fund’s loan against a note.