FIRPTA, the Foreign Investment in Real Property Tax Act of 1980, is a crucial regulation for anyone involved in real estate transactions with foreign investors. The primary purpose of FIRPTA is to ensure that the U.S. federal government collects capital gains tax from foreign sellers when they dispose of real property interests in the United […]
Category: Real Estate Law
The Importance of Pulling Permits for Residential Properties in Texas
The Importance of Pulling Permits for Residential Properties in Texas When undertaking work on residential properties, you almost always need to pull permits, and failing to do so can lead to significant liabilities. Here’s a concise look at the permitting process, its importance, and the potential consequences of bypassing it. The Permitting Process Permitting ensures […]
Navigating Real Estate Transactions: A Legal Perspective for Buyers and Sellers
Navigating the world of real estate can be daunting, whether you are buying your first home or selling a property. The financial stakes are high, and understanding the legal aspects of the process is crucial to avoid potential pitfalls. Here, we offer a comprehensive legal perspective to help you steer through the complexities of real […]
Can a Builder Require You to Use a Certain Lender?
When buying a home from a builder, you might hear that you must use the builder’s preferred lender. This can be confusing and concerning for many homebuyers. The question is, can a builder legally require you to use a specific lender for your mortgage? The short answer is no, they cannot. Understanding Your Rights as […]
Can You Sue Your Spouse for Partition in Texas?
In Texas, the concept of partition is a legal mechanism that allows co-owners of property to divide their shared interest when they cannot agree on the disposition of the property. However, when it comes to partitioning property with your spouse, the situation becomes more complex. What is Partition? Partition is used when two or more […]
Releasing a Lien on Real Property When a Lender is No Longer in Existence
A lien is a legal claim against an asset, often used as collateral for a loan. In the realm of financial transactions, situations can arise where a lender, for various reasons, ceases to exist. Whether due to bankruptcy, acquisition, death of an individual lender, or simply closing shop, the absence of a lender can complicate […]
Navigating New Changes: Texas Property Tax and Homestead Exemptions in 2024
As we step into 2024, Texas homeowners face significant changes in property tax regulations and homestead exemptions that promise to influence financial planning and property management. With the new legislative adjustments, understanding these changes is crucial for homeowners to ensure they maximize their benefits and comply with the new legal landscape. The Texas Legislature has […]
Navigating the Texas Real Estate Disclosure Requirements
When selling property in Texas, homeowners are legally required to disclose certain information about the property’s condition and history. This process is crucial for ensuring transparency and protecting both buyers and sellers from future legal disputes. Understanding Disclosure Requirements Texas law mandates that sellers must complete a Seller’s Disclosure Notice, a form that outlines the […]
Legal Solutions for Landlocked Properties in Texas
Landlocked properties present unique challenges for real estate owners in Texas. When a parcel of land has no public road or street access, and is surrounded by other privately owned properties, it is referred to as being landlocked. This situation can lead to complications for property owners, especially those who acquire such properties through tax […]
Understanding the Eviction Process in Texas
In Texas, the process of evicting a tenant can be complex and nuanced. It is governed by statutes and regulations that must be strictly complied with. Landlords and tenants alike must understand their rights and obligations to navigate this process effectively. Notice to Vacate: The eviction process typically begins with the landlord providing the tenant […]