Underwriting Manual: TX
17.34
Repurchase, Right To
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17.34.1
In General
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| In its most generic form “right to repurchase” means the right of grantor to repurchase from a grantee, within a specific period of time and subject to certain terms and conditions, the property being conveyed. It may also be the subject of a separate agreement. |
| Frequently, “rights to repurchase” are confused with either “rights of first refusal” (Sec. 17.74) or “options to purchase” (Sec. 14.00). |
| Any right to repurchase in the chain of title of the property to be insured, unless disposed of, must be excepted in Schedule B of the title policy. |