To form a general partnership in Texas, you need to: (1) choose a business name, (2) file an Assumed Name Certificate (DBA) if using a fictitious name, (3) create a written partnership agreement, (4) obtain an EIN from the IRS, and (5) secure necessary licenses and permits. No formal state registration is required, but following [...]
Owning a piece of real estate — whether it is your primary residence, a vacation home, or a commercial property — is one of the great benefits of living in a free country. The last thing you want or need when buying, selling, or inheriting a piece of Texas real estate is a dispute regarding [...]
Title insurance is typically required for any real estate transaction where there is a transfer of ownership from one party to another. The purpose of title insurance is to provide financial protection in the case of contested ownership of a property. In other words, when multiple parties claim ownership of the property in question and [...]
Purchasing property is a significant financial investment. Whether it’s a home or a commercial property, there are always some risks involved. One of those risks involves real estate title liens. The seller of the property must have a clean and clear title for the property before it can be legally sold. If a buyer purchases [...]
Are you facing a potential foreclosure on your home? When your budget is tight it doesn’t take much to get behind on your house payments. And once you’re 120 days behind, your mortgage lender has the right to begin the process of foreclosure. But even if you’ve missed payments, you still have rights in this [...]
A commercial lease is used when renting a space to use for commercial purposes. If you own a business and need a place for your business to operate, renting a space is usually the best option. This is especially true for new businesses that are just starting up. When you rent a commercial property you [...]
A contract is a legally binding document that outlines the responsibilities and duties of each party involved in the contract. Once the contract is signed, it is binding. Failure by either party to uphold the terms of the contract is considered a breach of contract. Unfortunately, contract breaches occur quite frequently, especially in the business [...]
Commercial real estate law encompasses a wide range of legal matters pertaining to the ownership, sale, and use of the commercial property. Under the umbrella of commercial real estate law falls commercial leases. A commercial lease is used when a business rents a commercial property from an owner/landlord. Commercial leases are often quite a bit [...]
Eminent domain grants local, state, and federal governments the legal authority to take private property for public use. But what happens when the land you've built your life on is suddenly no longer yours? While this may sound alarming, the law requires the government to provide property owners with fair compensation—though what’s deemed 'fair' is [...]
Short Sale vs Foreclosure: What’s the Difference? When a homeowner struggles with making mortgage payments, they may be in danger of losing their home. If you have found yourself in this situation, you have a few options: Foreclosure. The lender seizes the property. Short Sale. The property is sold before foreclosure. Deed in Lieu of [...]