What needs to be addressed as "consideration" in a special warranty deed?
2 attorney answers
My understanding is that you are using a prior deed form used within your family that was drafted as a gift deed, with a special warranty of title. Depending on its age, it may or may not be a good form to continue to use. However, there is little difference in the most of the deed text between a gift deed with a special warranty and a regular special warranty deed for a cash sale. If the transfer is for all cash (no promissory note in exchange and no mortgage of deed of trust), then the consideration clause can simply be: ". . . for cash and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged." You do not have to set out the actual cash price in the deed. If the form you are using has not been reviewed by a real estate attorney very recently, I would recommend having an attorney give it a quick review. Many real estate attorneys, including me, will quote you an affordable flat/fixed fee to prepare or review of a Texas deed.
This answer is for general purposes only and is not intended to constitute legal advice and does not result in the formation of an attorney-client relationship. Without additional facts regarding the underlying transactions in question, no definitive answer is possible. Additionally, the authoring attorney is not a member of the Bar of the State of Maine. It is recommended that you contact a local attorney in that state and provide full facts to get a definitive answer.