By Don White | Published September 30, 2020 | Posted in Real Estate Law | Tagged Tags: real estate, title deficiencies, title insurance | Comments Off on Common Title Problems in a Real Estate Transaction
Common Title Problems in a Real Estate Transaction
In any real estate transaction, one of the key steps toward closing is the title search. Its purpose is to make sure the seller owns the property and also to discover any problems or competing interests that might encumber the seller’s right to sell. Title defects, whether due to third-party claims, flawed records or fraudulent Read More
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Law Stops Texas Municipalities from Banning Certain Building Materials
In 2019, the Texas Legislature passed House Bill 2439, a state law prohibiting local municipalities from passing ordinances preventing the use of certain types of building materials. By expanding the range of what can be used during construction projects, the law is intended to save Texas builders and consumers money on construction costs. For the Read More
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Court Rules Old Friendship Does Not Equal a Fiduciary Relationship
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties. The fiduciary must place the interests of the other above his or her own. This type of relationship can exist between a trustee and a beneficiary, a financial adviser and a client and other contexts Read More
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How Lien Stripping Works in Chapter 13 Bankruptcy
If you are like most homeowners, you purchased your house with a mortgage, which is a lien on the property that the lender can use to enforce payment of the loan. This first mortgage takes priority over any subsequent liens, such as those used to secure home equity loans or lines of credit. However, if Read More
Read MoreWhy a Buy-Sell Agreement is Essential for a Small Business
Whether you’re starting a new business or are fully engaged in running one, it’s vital to plan ahead for what happens to the enterprise when you or one of your co-owners retires, becomes disabled or passes away. Creating an agreement that provides for such contingencies can help you ensure a smooth transition that avoids business Read More
Read MoreWhat Must You Disclose When Selling a Home in Texas?
Whether you’re selling the home you’ve lived in for years or flipping the fixer-upper you’ve refurbished, you’ll need to make a series of disclosures to the prospective buyer before any deal can be finalized. Texas law requires home sellers to inform buyers of material defects in the property that may affect its value. Usually, these Read More
Read MoreWhat Are the Advantages of an LLC Under the Texas Business Organizations Code?
Entrepreneurs forming a business must decide which type of organizational structure best suits them. There are several types of business entities recognized under Texas law, among them partnerships and corporations. A third type — the limited liability company, or LLC — combines elements of both, in that it is subject to lesser regulation than corporations Read More
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New Seller’s Disclosure Notice Protects Buyers of Flood-Prone Property
Potential home buyers should be aware that sellers are required to disclose certain information about their property, especially concerning defects and conditions that are not discoverable through the exercise of due diligence. In Texas, this notification is done by completing an official form called the Seller’s Disclosure Notice. Now, in response to recent instances of Read More
Read MoreShould I Hire a Lawyer When Buying a House in Texas?
I get this question a lot — “Should I hire a lawyer when buying a house in Texas?” The answer, as is often the case with many things in life, is “It depends.” Although, I will add that, even in the most banal of real estate transactions, having an attorney on your side who can Read More
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