This is a Real Estate Law question for the State of Texas. What do I still own.

Asked over 2 years ago - Dallas, TX

If you purchased a home with acerage cash and 6 months later you got an Equity loan which they would only value the home and 1 acre the home was on, and now you find yourself in a possible foreclosure. I know in TX that it is possible the loan is satisfied once the bank has possession of the home because it is an equity loan, but do I still own the rest of the land that was not included as the 1 acre the home or loan was used for?

Attorney answers (2)

  1. Gary Alan Armstrong

    Contributor Level 16


    Lawyers agree

    Answered . Yes, if the loan is only on the house and one acre, you will still own the remaining 5 acres. And, yes, the Bank cannot come after you for any remaining balance on the home equity loan unless they can prove that you obtained the loan by fraud.

    I am licensed only in Texas. Offering information of a general nature in response to a question is not intended to... more
  2. Steven John Clausen


    Contributor Level 16


    Lawyer agrees

    Answered . The deed of trust needs to be examined to determine if all of the acreage or just a portion of it is security for the loan.

Related Topics

Property foreclosure

If you miss too many mortgage payments, your lender can start foreclosure proceedings to take ownership of the property, but it has to follow your state's laws.

Buying real estate with a home mortgage

A home mortgage is a loan to buy a home, where the home is the collateral. There are many different types, and the right one for you depends on your situation.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.


Ask now

17,044 answers this week

2,339 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

17,044 answers this week

2,339 attorneys answering