While countless Texans have borrowed money from a lender to purchase real estate, many are unaware that Texas is a “deed of trust” state. A deed of trust is used to create a security interest in real property as collateral for a loan. A deed of trust is similar to a mortgage, but a deed [...]
We are proud to announce that our own Taylor Wilson has been named this month’s One to Watch by the Dallas Association of Young Lawyers! Taylor joined Bennett, Weston, LaJone & Turner in August 2019. Her primary areas of practice are business law and business litigation. Congratulations, Taylor!
Gather round boys and girls, ladies and gents . . . for it's All Hallows' Eve ~ a time for sharing eerie stories of the terrible plights that can befall business owners who don't have a trustworthy law firm to fend off threats, predators, goblins, and things that go bump in the night! Here's our [...]
For commercial real estate owners, squatters can be a significant nuisance. They can damage property, lower property values, and can even jeopardize your ownership rights. In certain circumstances, allowing squatters on your real estate property might even mean being forced to legally treat them as tenants and giving them notice for eviction, even if the [...]
Under Internal Revenue Code (IRC) Section 1031, a taxpayer may be able to defer capital gains taxes on certain qualifying property if he or she finds a ‘like kind’ replacement. If you are selling investment property, income-producing real estate, or business property for a net gain, you qualify for a Section 1031 exchange. Here, our [...]
What is a Fractional Real Estate Investment? Fractional ownership is a method by which investors are able to join together to purchase shares in a real estate property. This type of investment/ownership structure is especially common for expensive real estate assets, including hotels and resorts, stadiums, apartment buildings, residential developments, vacation homes, and other commercial [...]
If you own commercial property and are facing possible foreclosure, there may be other options. You could consider recapitalization, refinance your debt, or restructure your debt. The following four tips can help you avoid commercial property foreclosure. Consider Recapitalization Generally, the original loan maturity date and interest rate stay the same in recapitalization. The loan [...]
Texas has laws about truthfully representing the facts about commercial real estate for sale. For example, sellers must supply any certificates of mold damage remediation gathered in the last five years, as well as written notice of storage tanks on the property and compliance with construction requirements. When sellers don’t truthfully represent the condition of [...]
After working to sell a property, commercial real estate agents expect to collect their commissions when the deal is closed. While most sellers have kept their side of the bargain and payed the agent, over the years some have gone to great lengths to delay paying commission. Some did not pay at all. Revision of [...]
Both lessor and lessee can be negatively impacted by a poor commercial lease situation. These situations may in one way or another necessitate the eviction of the lessee, and it’s important for members of both parties to be aware of the legal process that must be followed. Lockout Landlords have a statutory right to lockout [...]
