A short sale occurs when the value of your home is less than the mortgage balance, meaning you owe more than the property is currently worth. This situation became all too common during the 2008 subprime mortgage crisis when many homeowners found themselves “underwater” on their homes. Short sales became a practical option for those […]
Month: September 2024
Understanding Assumption of Risk in Texas
In Texas, the assumption of risk doctrine applies when someone willingly engages in activities knowing there are inherent risks involved. This legal concept often comes into play in personal injury cases, where participants in risky activities accept that injuries might occur. What is Assumption of Risk? Assumption of risk means that a person is aware […]
How Should Landlords Handle Abandoned Property in Texas?
As a landlord in Texas, dealing with abandoned property left by tenants can be a tricky situation. Whether the tenant has left a sofa, old clothes, or other personal belongings behind, landlords must handle the situation legally. Here’s a breakdown of how you can manage abandoned property as a Texas landlord. Understanding Tenant Abandonment Abandonment […]
Common Myths About Nonprofits and How to Form One
There’s a common misconception that starting a nonprofit is a fast track to financial stability and wealth. Many people mistakenly believe that by creating a nonprofit organization, they can generate income without paying taxes. However, the reality is far from this myth. Nonprofits are specifically formed for purposes such as operating charitable, religious, educational, or […]
The Consequences of Lying Under Oath in Texas
Lying under oath, commonly known as perjury, is a serious offense in Texas with significant legal consequences. While lying in general is not illegal, doing so in certain formal settings, such as courtrooms or during sworn affidavits, can lead to severe penalties under Texas law. Perjury Under Texas Law Perjury in Texas is governed by […]
How to Navigate Property Disputes with an Ex in Texas
When a relationship ends, dealing with jointly-owned property can be complicated, especially when one person wants their name removed from the mortgage and deed. In Texas, there are several legal options available to resolve these disputes and protect your financial interests. Key Options for Resolving Property Disputes Unilateral Right of Partition What It Is: Texas […]