Legal Question in Real Estate Law in Texas
home construction
how can I protect my interest in a house built my daughters' mortgaged property? Can I get a 99 yr lease on the property?
1 Answer from Attorneys
Re: home construction
You can file a lien on the property. You can also sign a lease on the property and file that in the county, but keep in mind that you will probably have to undo the transaction whenever your daughter wants to refinance the property. A lease can, at best, affect a possessory interest in the property (a right to be there), not a right to own the property.
Either way, your interest in the lease or a lien on the improvement is subject to any other obligations that are pre-existing.
On the side, be sure to help your daughter keep track of the new tax assessment, since the value of improvements is often overestimated.
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