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September 2019 Archives

How eminent domain works in Texas

One quick way to get on the wrong side of a Texan is when someone tries to take their land. Nevertheless, there are certain circumstances where the state or local municipality (or a company working for them) will justify taking ownership from an individual or business. This is done under eminent domain, which is a premise that it is in the best interests of the public for the government to do this.

What goes in a seller’s disclosure?

Those who sell real estate property usually include a seller’s disclosure. While there are exceptions, a seller disclosure provided by sellers to potential buyers outlines any defect or issue that could impact the buyer’s decision-making process. This applies to most resident owners of a home, but it can affect the terms of the offer, or if they wish to proceed.

Foreign investments often fall under FATCA

The Foreign Account Tax Compliance Act (FATCA) became law in 2010. It signaled a significant shift in tax obligation for foreign companies and workers doing business in the United States. In essence, it required businesses, financial institutions, banks, and certain insurance companies around the world to report to the IRS that they had U.S. account holders. This was done to ensure that citizens with foreign accounts or investments still pay their tax obligations here in the United States. Those who the IRS deems are not paying the proper amount can face severe penalties.

Tips for staging a home

The concept of staging one’s home to sell it is now a fairly common one. While in days past this amounted to keeping a clean home, the idea now is to strategically place to furniture and decorations in a way that puts the property in the best light. This often involves overriding personal preferences and often includes paring down the clutter to make the space less claustrophobic. Some will even go so far as to rent furniture or buy new furniture that they plan to use in the new home to give the old place a fresher and more updated look.

The emotional ramifications of a will contest

The death of a loved one can be an emotional experience. If you were close to the deceased, you can expect to go through the stages of grief. However even if you and the recently departed did not get along, it is normal to feel emotional for a variety of reasons. When things settle down and attention turns to the closing of the estate, you may be shocked to learn that the deceased did not include you in the will.

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William T. Peckham
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Austin, TX 78701
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