A personal guarantee is a legal undertaking by an individual (the guarantor) to repay a loan given to a business if the business itself fails to repay. This commitment is commonly requested by lenders when a business does not have sufficient credit history or assets to secure a loan. Personal guarantees are governed by state […]
Author: Philip Silberman
Employment Agreements and Bonus Incentives
We previously covered general considerations of employment agreements in Texas. Today, we give extra considerations to disputes that may arise from such agreements, or the lack thereof, with a focus on bonus pay incentives. Wages paid on commission and bonuses are typically subject to the terms of either an agreement between the employee and employer or […]
Understanding the Impact of Texas SB 581 on HOA Holiday Decorations
As we all embrace the season of Christmas, homeowners in Texas are keen to display their festive decorations. However, it’s crucial to understand the legal landscape shaped by Texas SB 581, especially concerning HOAs and religious displays. The Rise of Religious Freedom in Texas Homeowners’ Associations The Homeowners Religious Freedom Act, known as SB 581, […]
What to Know About the Corporate Transparency Act
Enacted in 2021, the Corporate Transparency Act goes into effect January 1, 2024. The purpose of the Corporate Transparency Act (CTA) is to address issues surrounding anonymous shell companies with the overall aim of fostering transparency and accountability. This act imposes new reporting responsibilities on businesses large and small, so it is important business owners […]
Understanding the Impact of House Bill 2127 on Texas Real Estate
The Dawn of State Preemption in Local Real Estate Governance Texas’ House Bill 2127, effective September 1, 2023, represents a seismic shift in the balance of power between state and local governance, particularly in the realm of real estate law. This legislation, aimed at limiting the rulemaking authority of municipalities and counties, essentially prohibits these […]
Navigating New Horizons: Understanding Texas’ 2023 Changes to HOA and COA Laws
A New Era for Homeowners and Condominium Owners’ Associations The Texas Legislature’s recent session has ushered in pivotal changes for Homeowners’ Associations (HOAs) and Condominium Owners’ Associations (COAs) in Texas. Effective September 2023, these changes are set to redefine the landscape for property owners and tenants alike. As a law firm deeply vested in real […]
Obtaining a Deceased Family Member’s Bank Account Information in Texas
One of the challenges faced by those who have lost a loved one is determining the nature, location, and value of the deceased’s assets. Especially in cases of sudden or unexpected death, the deceased may not have had the foresight to name death beneficiaries for their bank accounts, retirement accounts, and the like, or to […]
Can HOA Dues and Fees Trigger Causes of Action Under the TDCA or the FDCPA in Texas?
Texas property owners who have been hounded by their Homeowners Association or its lawyers for unpaid dues, assessments, and fines may wonder whether any consumer protection laws exist to give them legal relief against abusive or harassing HOA debt collection practices. The answer is “yes,” but not all such laws are created equal. The Texas […]
Rights and Duties of Life Tenants in Texas
As has been previously discussed, a person can become a life tenant in many situations, whether it be in the form of homestead rights, through a conveyance document, or through inheritance under a will. However, after someone becomes a life tenant, they owe certain duties and responsibilities to those who will have an interest in […]
Exploring Owner Financing in Texas: A Homebuyer’s Guide
When it comes to buying a home in Texas, traditional financing options like mortgages are common. However, there’s another avenue for purchasing real estate that’s gaining popularity: owner financing. Owner financing, also known as seller financing, offers an alternative route to homeownership that can be particularly attractive to both buyers and sellers. Understanding Owner Financing […]