Legal Question in Real Estate Law in Texas
Sale of property
I currently rent a house from my sister and her husband. I will be moving out because of my husband's job and they have agreed to let us out of our lease. The problem is that they have decided to rent the house after we leave. If the house was sold my husband and i would receive one half of the profit from the sale. This was a family house and i owned it at one time. I have an agreement signed by them to this effect. Can i still get the money if the house is ever sold or should i put a lien on it for future monies.
1 Answer from Attorneys
Re: Sale of property
If you and/or your husband already share ownership
of this house and at least one of you is listed as
such on the title with your sister and her husband, there would be no need to encumber the sale of the property with a lien since the house could not even be sold without your signature.
However, if you are not listed as owners of record
and you have only a contract of sorts to guarantee your share of any sale proceeds which might be forthcoming in the future, you may want to arrange for a consultation with an attorney to review the matter and to advise you as to how you might best protect whatever interests you may have in this particular property.
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