Real Estate

Homestead Property Tax Exemptions

Don't Pay More Than Your Fair Share You may have noticed that your home value has sky-rocketed in the last two years. Know who else has noticed? Your local appraisal district.     That is bad news for your property tax. A higher home value means a higher property tax. You can protest your property valuation once a year. In the meantime, one good way to whittle homestead property taxes down is to...

The Benefits of Using a Real Estate Attorney When Buying a House

While Texas is among the states that do not require you hire an attorney when buying your house, there are times where an attorney can provide significant value.  A real estate attorney can add value if you are buying a home without a real estate agent, or in the event your transaction involves one of the many complex situations that can arise when buying a house.  Real estate agents...

Do You Have to Hire a Lawyer to Sell a House in Texas?

While Texas is among the states that do not require you hire an attorney when selling your house, there are times where an attorney can provide significant value. For instance, when you decide to sell the house without a real estate agent or during one of the many complex situations that can arise when selling a house. Real estate agents are adept at the standard sales transactions, but they...

Eminent Domain vs. Condemnation in Texas Real Estate

You may be faced with a governmental agency or private actor threatening to take your private property under the power of eminent domain. When this happens you have several rights designed to provide protection for your private property or, in the least, provide you just compensation. What is Eminent Domain vs. Condemnation? Eminent domain is the power of the state, or an authorized private actor, (the “condemning party”) to take private...

6 Types of Property Deeds You Need to Know About

In Texas real estate transactions, property deeds are extremely important and there are formal conventions that pertain to them. For instance, to convey title to real estate in Texas, the grantor must execute a deed in front of a notary public. The deed must also be presented to and accepted by the grantee, and then filed of record in the county clerk’s office. This final step of filing puts...

Shedding the Unwanted Houseguest – A Road Map to Deal with Squatters

“Friends, Relatives, In-laws, lend me your ears.  I have come to bury our relationship, not to praise it.  You need to leave my house now.” Feel free to tweak the foregoing to fit your situation.  Shakespeare most assuredly will not mind. There are few situations more fraught with anxiety than dealing with a houseguest turned squatter.  You might be dealing with an adult child who moves back home for “just a...

What is Asset Based Lending in Real Estate?

A Definition of Asset Based Lending Asset based lending in real estate finance, also referred to as equity based lending, involves extending a loan that is secured by real estate assets. These assets can include commercial, residential and industrial properties, as well as land. For asset based mortgage lenders, the main criteria for loan approval is the value of the real estate, as well as the amount of the down...

3 Reasons You Need to Hire a Commercial Real Estate Attorney

Commercial real estate transactions — including buying and selling, leases, and construction — can range from simple to complex. You may be able to manage a more straightforward exchange yourself without the need for assistance from a third party. For more complicated transactions, though, it makes more sense to bring in a commercial real estate attorney. What does a commercial real estate lawyer do? A commercial real estate attorney is a...

How To Get Out of A Timeshare Legally

An Inheritance No One Wants Do you own a timeshare?  My condolences. You have the equivalent of a sticky bomb in your portfolio. A timeshare is typically a condominium located in a vacation area that is subject to an agreement between the owner and a management company.  Some timeshare arrangements allow a buyer to “own” the right to use a various condominiums in several areas at different times of the year.   Texas...

Buying and Selling Commercial Properties with Easements

Buying and Selling Commercial Properties with Easements You’re ready to open the small family diner of your dreams, and you found the perfect spot. Bad news, though—there’s an easement on the property. The boutique next door has been using the lot in the back for overflow parking for years, and if you purchase the property, you have to continue to allow them access. What does this mean for you? If you...

Living the Life in Texas: Tips for Establishing Domicile

Texas offers its residents several favorable benefits. We do not have an individual income tax, we do not impose an estate or inheritance tax, and we provide extremely generous protection to individuals from creditor claims. To share in this good fortune, you just have to be domiciled within our state.  “Domicile” is a legal term.   It means that you have a true fixed and permanent home and principal establishment in Texas. ...

Joint Ownership and Passage of Title on Death

One of the most common misconceptions married people have about joint ownership of property is that it passes automatically to the survivor on death of the one of the owners. The presumption in Texas is just the opposite. The question is usually presented to me like this: “it was in both our names, so I own it now, right?”  Sorry, but it doesn’t work that way. Here is a typical situation....