Transactional drafting involves the drafting and reviewing of important documents relating to transactions of all types. Businesses and individuals alike must devote close attention to these documents, as any ambiguity or uncertain terms could result in a clouded title to the property being sold or even litigation over the transactional issues that may arise. A well-drafted contract or agreement can avoid these costly mistakes.
A Deed is required to transfer real property, and complex litigation can ensue if not executed properly. Real property must have a clear chain of title to be owned and/or transferred, and thus all Deeds relating to the particular piece of real property must be executed and filed with the county clerk in order to avoid any potential title transfer issues in the future. Vague, incorrect, or unfiled deeds can lead to complex litigation with significant risks. Whether the property is being sold, gifted, or inherited from one’s estate, a well-drafted deed is required to properly maintain a clear title to the property.
Sales & Rental Contracts
Sale and Rental Contracts can form and/or destroy solid business relationships. Many do not realize how integral contracts are in everyday life. The car you drive, the apartment or house you live in, and even the food you buy are all provided to you on a contract. Consequently, a significant amount of civil lawsuits are based on one party’s failure to perform according to a contract. Cases can be won or lost based on the ambiguity or unclear terms of a contract, which could result in anything from monetary damages to someone losing a house. A well-drafted contract can prevent these risks, and can serve as the foundation of successful and mutually-beneficial relationships.
Settlements & Releases
Settlements and Releases serve as the peaceful resolution to any dispute. Before or after a lawsuit has been filed, the parties may agree to resolve their dispute by executing a Settlement & Release. The settlement often involves one party receiving money or property, and in exchange they release and waive any claim that they may have against the other party. The Settlement & Release has many factors to consider, however, and should thus be drafted carefully to ensure that the underlying dispute does not rear its ugly head in the future.
Liens can be a successful tool for recovering money, but must be performed according to complex and tedious laws. A lien is a document placed on another’s property title which provides notice to the world that the lien-placing party has a monetary interest in the property. A lien is often the result of the property owner not paying a debt owed to the other party, or is a method of recovering money after a judgment has been entered against the property owner. A lien is quite helpful in recovering money from an indebted party, but can only be upheld if the lien-placing party follows numerous notice and filing requirements set out in the Texas Property Code. Following these laws can be difficult for even the most sophisticated clients, so it is best to trust an attorney who is familiar with lien practices.
Gill, Revack, Samaan & Muller, LLP
6575 West Loop South, Suite 600,
Bellaire (Houston), Texas 77401
(713) 271-8282 or (800) 952-5559
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