Laws regulating Contracts for Deed in Texas

[Scott Arpan]

Can someone point me to the specific Texas law(s) passed few years ago that made owner financing with a contract pretty much invalid?

When the law came out I did not think to save the information. I don’t buy many loans in Texas and when I do, they are always deeds of trust. I just remember the new Texas law was extremely bad for those holding contract for deeds.

A situation came up where a seller used a contract to sell her house in December 2012. The seller wants me to buy her contract. The buyer steadfastly refuses to convert the contract into a deed of trust because her relatives told her not to. She will not listen to /comprehend any logical reason a contract is not in her best interest.

I am trying to find a copy of the law to review it myself before determining if it is something worthy of incurring legal fees.