Category: Real Estate
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Series Limited Liability Company (LLC)
Historically, members had to file, manage, record, and report each LLC separately which meant more paperwork, more cataloging, more expense, and more reporting. That process created more unnecessary work and several issues for not only the members of the LLC but also for the states’ regulatory agencies. Some states have resolved this issue by enacting…
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8 Layers of Asset Protection for Texas Residential Landlords
Investing in rental properties has tax and wealth building advantages. Like any other business, mitigating risk is necessary to protect your assets. Oftentimes, individuals believe that forming an entity is enough to protect oneself from legal liability. This is far from the truth. Landlords get sued for various reasons such as poorly maintained property, unpaid…
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Texas LLC Formation
A limited liability company (LLC) is a business structure that is permitted by individual state statutes. In Texas, the Business Organizations Code allows for the creation of LLCs. An LLC is formed by filing a certificate of formation with the Texas Secretary of State. Generally, an LLC is owned by its members. The LLC is…
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Why do you need a Texas Prenuptial Agreement?
There’s a social stigma attached to prenuptial agreements. Sometimes happy couples think that they don’t need one because they trust one another and would never plan on getting a divorce. However, a prenuptial agreement is similar to an insurance policy, we all have one, and we hope not to have to use it, but in…
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The Difference between Community Property vs. Separate Property in Texas
Most individuals don’t consider the difference between community property and separate property until they are facing a divorce. At Walter & Truong PLLC we educate our clients on the importance of how property is characterized in the state of Texas because Texas is one of a few community property states. Upon divorce in Texas all…
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Investor’s Guide on Becoming a Texas Residential Landlord
A key component to the buy-and-hold strategy for Texas real estate residential investors is property management. While collecting rent may seem like easy passive income, there are several Texas residential landlord tenant laws and regulations in place for landlords. As a first time landlord, investors may face uncertainty and make mistakes along the way. This…
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Residential Texas Evictions
An eviction is the judicial process when a landlord may remove a tenant from the premises. Although many people commonly know the term eviction, some may be unfamiliar with the legal term in the Texas Property Code, a “forcible detainer” action. There are several causes for evictions such as (1) non-payment of rent, (2) holding…
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Residential Landlord Rights and Responsibilities
Chapter 92 of the Texas Property Code governs the residential landlord tenant relationship. In addition to the Texas Property Code there are Federal rules and regulations that outline a landlord’s rights and responsibilities. In this article we outline key rights and responsibilities for Texas landlords. This is not an extensive list and landlords should always…
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Texas Foreclosure 101 for Investors
Purchasing a property at foreclosure sounds like a great opportunity. Some of these properties are offered at a fraction of the market value. Some properties are free and clear of liens and encumbrances. Before purchasing a property, there are several steps to consider. Here is a basic overview of the foreclosure process.
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The Day of Foreclosure
One method of buying a foreclosed property is at a real estate auction. Check the real property records for the list of foreclosure properties in the county you want to purchase your property at. You may also find the list on your local newspaper, or the trustee’s website. In Harris County, the Daily Court Review…
