Subject-to transactions in Texas are a type of real estate purchase in which the buyer takes over the payments on an existing mortgage instead of getting a new mortgage. It can be useful for buyers who are unable to obtain a traditional mortgage, as well as for sellers who are unable to sell their property through traditional means. As appealing as this may sound, however, sellers need to be aware of the potential risks that can come with subject-to transactions. (more…)
Fox 4 KDFW recently reported that a North Texas family was left all but homeless after their home builder backed out of their contract in the eleventh hour. It’s a consequence of the current seller’s market, and it’s perfectly legal. (more…)
The Texas legislature recently passed new legislation regarding Texas series LLCs, which went into effect on June 1, 2022. This new legislation will potentially offer more protection and peace of mind for individuals and entities conducting business with series LLCs. (more…)
When you’re buying a property, you might — justifiably — feel like you’re in limbo while it’s under contract. There are many “what if” possibilities that, while unlikely, you still need to consider. In light of the recent winter storm in Texas, which wreaked havoc on thousands of properties across the state, many buyers may currently be facing such scenarios. Specifically, what happens when damage occurs to a property before closing? (more…)
The residential real estate closing process can be confusing for a homebuyer, property developer, or investor. A real estate closing involves finalizing a property sale, which includes signing documentation to trigger the property transfer.
The process takes place during an already stressful time and can be susceptible to possible setbacks. The real estate attorneys at The Farah Law Firm can help you understand what to expect during your closing. (more…)
For many people, owning property — particularly your own home — is a major part of the proverbial “American Dream.”
In the past, only the very wealthy were able to become landowners. But today, home and property ownership are possible for more people than ever. And because of the nature of property ownership, and the fact that many people can now own homes and property, understanding the real estate title transfer process is vital. The expert real estate attorneys at The Farah Law Firm can help you understand titles, deeds, and how real estate title transfers work in Texas. (more…)
Due to the current COVID-19 pandemic sweeping the country, the Centers for Disease Control (CDC) issued an order (the Order) on September 4, 2020, that temporarily places a moratorium on residential evictions. This order is in effect from September 4, 2020, through December 31, 2020.
At this time, many tenants have questions about how the order works: What exactly is a “moratorium on evictions”? To whom does the Order apply? What do they need to do? Likewise, many landlords are wondering: Does this mean that all of their tenants can stop paying rent? Is this the same as the recent CARES Act? Can the CDC even issue an order like this? Fortunately, the expert real estate attorneys here at The Farah Law Firm can help you interpret this recent action and provide answers to your questions. (more…)
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 Texas since 2009. 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…)
“Michael, I would like to express my thanks to you and your entire team for all your hard work in getting my case to a fair and generous settlement. I could not have asked for better legal representation for the long and nerve-racking process of my case. You are very compassionate, nice, and extremely good at what you do. I respect your... Read More »
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