With the recent outbreak of the novel coronavirus (COVID-19) in the United States, all Americans are forced to wonder how this pandemic will affect their lives going forward. It’s hard to imagine any aspect of life that won’t be affected by this global tragedy.
Landlords, tenants, and real estate investors in particular are already facing many difficult questions. How will this crisis affect your contracts? What are your options? Does the coronavirus excuse your performance, or will you be forced to pay damages in the event you cannot perform? What will happen to your residential and commercial leases?
The Series Limited Liability Company (“Series LLC”) was first introduced in Delaware in 1996. Although many states allow for the formation of Series LLC, few still do not. The Series has been valid in the Lone Star State for the past ten years (since 2009). In Texas, the Texas Business Organization Code (BOC) controls and regulates the formation and maintenance of a “Texas Series LLC” under Tex. Bus. Orgs. Code Ann. §§ 1.001 et seq.
Over the past 50 years, the number of Americans renting their homes has increased by more than 22%. Pew Research has revealed that 36.6% of US homes are rented, yet just 32% of those said they rent out of choice. While a handful of landlords rent out a property with utilities included, many don’t. So, what do you do when your heating packs up on a cold winter’s night and how can it impact the relationship between tenant and landlord? (more…)
Despite the numerous legal safeguards, checks, and counters that the US’s financial system rely on, there is always another loophole exploited by scammers. This is especially true due to the fluid political climate; as legislation changes, such as with this week’s repeal of Dodds-Frank regulation, so too do the products and terminology offered to people. For vulnerable people, and in particular seniors, this poses a unique challenge, as scammers seek to take advantage of the confusion and lack of knowledge to make illicit cash. (more…)
For many people, buying or selling a house is one of the most significant transactions of their life, and it stands to reason that you’d want to turn to a professional rather than navigating the process on your own. If you’re purchasing a new home or considering selling your house, your first inclination might be to enlist the help of a real estate agent. But while buying and selling agents can be a good option, you may be surprised to learn that a real estate attorney might actually be the best option.
NBC 5 DFW recently interviewed real estate attorney Michael Farah to discuss a pesky problem affecting residents of a northwest Arlington neighborhood. A large flock of migratory egrets has descended on their homes, and 76-year-old Norma Crader, who purchased a home in the area prior to the birds’ arrival, is crying foul.
Especially if you’re a first-time homebuyer, earnest money can be a little confusing. You probably didn’t think you’d have to pay anything until actually purchasing the home! (more…)
When it comes to buying a house anywhere, the process is one that can be drawn out by unique and arcane laws that are in place. For a resident of Texas or any out-of-state investor who’s considering the purchase of a home, the Lone Star State brings with it some issues that offer a compelling reason why hiring a quality real estate lawyer to represent your interests is always a good idea. (more…)
The real estate business is one that’s bolstered by the trust of the parties involved, yet situations can occur that lead to such trusts being broken. The potential for such events to happen is the reason that the concept of earnest money has become standard for most agreements, which basically boils down to being a deposit of good faith. (more…)
Executing a valid will is one of the simplest and most important forms of estate planning around. Despite this the number of people that die intestate (without a will) is staggering. All too often life throws us curveballs, whether they be an unexpected death or disability. For this reason, it is never too early to prepare a will. The attorney’s at The Farah Law Firm, P.C. can make your will preparation a painless process and as your life changes, be it marriage, a birth, a death or divorce, our attorneys will be there to make changes as necessary. (more…)
“Michael drafted the lease that we will use for our commercial building. He had great communication, was readily available to answer any questions we had, and was very professional. He wrote us a lease that fit our need and I will definitely work with The Farah Law Firm again in the future."
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