Real Estate

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 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...

What Does A Transfer On Death Deed in Texas Do? There is a snappy little document called a “transfer on death deed” that is very much in vogue right now.  You can use it to transfer your real property in Texas upon your death, making it a valuable tool if your estate plan is geared toward avoiding probate. If you are leaping to your computer to download an internet form of...

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. ...

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....