Reader should reconsider before deeding half of property to boyfriend
Q: I’m buying a new house. I qualified for the loan, but my boyfriend (we have been engaged for three years) put up half the down payment. Now that I’ve closed, I want to deed half of the property to him. How do I do this?
A: In our humble opinion, don’t. Transferring title to him probably violates a provision in your mortgage. It also vests him with real property rights that may be very contentious should your threeyear engagement hits the rocks. Could he not qualify for the loan? Then you have the complications of homestead law, community property and common law marriage. Hire good legal counsel before proceeding on this path with him.
Q: I heard there is a newer power of attorney form. I have a power of attorney for my dad. Do I need to update the form?
A: No. Your old one is fine. If you are going to sell property, though, the title company will ask for additional documentation. Nothing to worry about, just new legislative precautions.
Q: I live in a subdivided neighborhood and built a new fence. I intentionally built it inside my lot lines so I wouldn’t encroach on my neighbors. Now one of my neighbors is claiming title to one foot of my lot. He says he is an adverse possessor. I know Texas law is kind of weird in this area. Can he do this?
A: This is a very complicated issue in Texas. He did nothing to claim title against you. He didn’t build the fence, and his occupancy probably will not qualify as “open, notorious, and hostile” as required under Texas law. In subdivisions, fence construction is cosmetic fencing, and not a claim to title. Get this issue resolved, though. The longer you wait, the delay can work against you. You must be diligent in protecting your rights.
Q: I’m a commercial real estate broker. I provided a lot of information about a commercial retail property that turned out to be bad information. The buyer is threatening to sue. Am I liable for passing on the seller’s information?
A: Not unless you knew it was false. You have no duty to interrogate your seller or verify their information unless you had a reason to think it was false or fraudulent. Commercial deals are complicated, and the buyer should hire their own team of representatives, in our opinion.
To send a question visit www.AskGeorge.net and select the “Ask A Question” button. Answers to questions do not contain legal advice. If you wish to obtain legal advice, consult your own attorney. George Stephens is the broker of Stephens Properties. Charles J. Jacobus, J.D. is board certified by the Texas Board of Legal Specialization in residential and commercial real estate law.