All Forum Posts by: Jerel Ehlert

The TAR has provisions that will get a landlord in trouble if exercised.  See specifically provisions allowing seizing non-exempt property.

@Rick H. Only a "Trust Company" can be trustee. This is usually a bank or insurance underwriter. A plain-vanilla LLC cannot be a trustee. The reasons are complex, but involve fiduciary duties to the beneficiaries.

Go see a lawyer.  Specifically one that does asset protection or estate planning.

No disrespect, but that is not it at all.  In fact, for their attorney, that may be an ethics violation.  You can choose any attorney you want.  If they say you must...and you don't want to, they might not have to service your loans.

But also, like the others said, you can likely just have your choice of attorney added to their "approved" list.

You might be able to buy their right of redemption, but there is nothing that requires them to sell to you.  On the other hand, you *must* sale back to them under statutory conditions.  Like any strategy there are risks and advantages.

Hold on....  You had a tenant in the property when you bought.  They paid rent for 2 years solid (no vacancy loss).  And you complain about the last month's rent?  Your budget ought to figure a 15% vacancy loss (at a minimum).  That there was minimum damage is an added bonus.

Get a deposit next time and count your blessings.

Damages? probably not.  Neighbor (N) gave notice, you cured.  If N wanted damages, it would be when he gave you notice and you do nothing, then damage from that point on may be his.  Even then it is not guaranteed.  The cost of the tree guy is 100% your cost to bear, regardless of amount.  If N is merely claiming $200, better to just pay or offer half and ask him to notify you *before* there is damage.

Or pay a lawyer to defend a nuisance suit for damages...

Give notice, in writing, to owner.  If not cured, property code permits breaking the lease, but you must move out.  Find an attorney who represents tenants for better idea of what you are facing.

You can probably proceed per normal.  Any defects in the tax suit are between the prior taxpayer and the foreclosing tax authority.  If homestead, they have 2 year right of redemption.  Eviction after a foreclosure is a 30-day notice to vacate, not 3.  If there were defects, and the occupant brings them up, you should be added to the suit as current titleholder.

[L/O's in Texas are are not legal except in limited circumstances] is factually incorrect. L/O are always 100% legal to structure in Texas.  If you can sale it, you can L/O it, just like in any other state.

A bankruptcy trustee has the power to unwind transactions within 3-months of the BK filing and bring in funds back into the BK estate.  Only those who fail to understand the BK process would be intimidated by a tenant filing BK.  There may be a delay to start, but all other payments are mandated by the court and paid by the trustee - better than gold.  Payments for shelter get put high on the list of creditors (and that is what landlords are).  If a payment is missed, notify the court/trustee.  No eviction without permission of the court, though.

(only licensed in Texas and SDTX)