Dividing a House in a Texas Divorce In a divorce the house is usually the largest asset and the one with the most strings attached. Texas is a community property state, which shapes the whole question in ways that surprise people who have moved here from elsewhere. The first distinction is between community property and separate property. Broadly, what either spouse acquired during the marriage is community property. What one spouse owned before the marriage, or received
What Heirs Should Know About a Reverse Mortgage in Texas A reverse mortgage lets an older homeowner draw against equity without monthly payments. The loan is not forgiven; it becomes due when a maturity event occurs, and that is usually the point at which the family first has to understand it. Maturity events are defined in the loan documents and typically include the death of the last surviving borrower, the borrower permanently leaving the home, or a breach of the obli
What Clay Soil Does to Dallas and Fort Worth Foundations
What Clay Soil Does to Dallas and Fort Worth Foundations Foundation movement is close to a regional condition across North Texas. The expansive clay soils under much of Dallas, Fort Worth and the surrounding suburbs swell when wet and shrink when dry, and slab foundations move with them. Buyers here know this, which cuts both ways. Because it is common, a foundation issue is not automatically a deal breaker in this market. What buyers react badly to is uncertainty. A doc
Selling a Texas House With Delinquent Property Taxes Texas has no state income tax and funds local government substantially through property tax, which makes the property tax lien unusually powerful here. If you are behind, the position is serious, but it is also more workable than most people assume. The lien attaches automatically on January 1 each year for that year's taxes. It is not something the county has to file to create. Taxes are generally due by January 31, a
What Heirs Should Know About a Reverse Mortgage in Texas
Selling a Texas House With a Reverse Mortgage A reverse mortgage lets an older homeowner draw against equity without monthly payments. The loan is not forgiven; it becomes due when a maturity event occurs, and that is usually the point at which the family first has to understand it. Maturity events are defined in the loan documents and typically include the death of the last surviving borrower, the borrower permanently leaving the home, or a breach of the obligation to k
HOA Assessments, Liens and Foreclosure in Texas A homeowners association in Texas has more authority than most owners realize. Unpaid assessments are not merely a billing dispute, and in some circumstances an association can foreclose on the lien securing them. The authority comes from the recorded declaration, the document filed in the county property records that created the subdivision's covenants. When you bought, you took title subject to it. That declaration typica
Can an HOA Foreclose on Your House in Texas A homeowners association in Texas has more authority than most owners realize. Unpaid assessments are not merely a billing dispute, and in some circumstances an association can foreclose on the lien securing them. The authority comes from the recorded declaration, the document filed in the county property records that created the subdivision's covenants. When you bought, you took title subject to it. That declaration typically
What Clay Soil Does to Dallas and Fort Worth Foundations
Selling a North Texas House With Foundation Problems Foundation movement is close to a regional condition across North Texas. The expansive clay soils under much of Dallas, Fort Worth and the surrounding suburbs swell when wet and shrink when dry, and slab foundations move with them. Buyers here know this, which cuts both ways. Because it is common, a foundation issue is not automatically a deal breaker in this market. What buyers react badly to is uncertainty. A do