Extensive land development, sales and acquisitions, professional design services contracts and construction contracts; current representation of commercial banks in their mortgage lending;
Representation of clients before planning and zoning commissions and city commissions;
Drafting and negotiation of landlord-tenant leases, including shopping center leases, condominium regimes, reciprocal lease agreements,
Drafting enforceable mediation and arbitration clauses; indemnity and subrogation agreements;
Real Estate
Question: I have received a notice of tax sale from some of the taxing jurisdictions and do not have the money to pay, what is going to happen?
Answer: Non-homestead . The highest bidder will probably obtain the property. It is possible that the property will be retained by one or more of the taxing jurisdictions and that they will obtain it for less than the fair market value. Under Section 34.21 of the Property Tax Code, once property is foreclosed on for tax purposes, the purchaser takes title subject to the rights of redemption of the owner. The owner has the right to redeem by paying the purchase price plus 25% IF REDEEMED WITHIN SIX MONTHS OF THE DATE OF RECORDING OF THE TAX DEED. Once the six month period passes, the purchaser obtains full title to the property. If the property is a homestead, the redemption period is for Homestead. The redemption period is extended to 2 years and the taxpayer must pay a 25% penalty for redemption during the first year and 50% during the second year after redemption.