Aug. 10, 2009
Dear George: I had someone sign an agreement to lease my home. However, the individual has not paid the security deposit, and the lease will begin in a few weeks. Am I obliged to honor the lease?
Answer: If the lease agreement you used is the Texas Association of REALTORS® Residential Lease, Paragraph 10A provides that failure of the tenant to pay the landlord the security deposit "on or before execution of this lease" constitutes a default of the lease. If the contract is not the lease agreement supplied by the Texas Association of REALTORS®, it still likely contains a similar provision regarding security deposits.
Dear George: I own an undeveloped 33-acre tract, and my 2010 tax assessment for this property has increased dramatically from my previous one. I thought annual increases were limited to 10%. What am I missing?
Answer: The 10% limitation to annual property tax increases applies only to residential property with a homestead exemption in place. Texas has not yet extended the exemption to commercial property.
E-mail a question to ask George & Chuck or fax it to 713-978-6684. The answers to questions in this column do not contain legal advice. If you wish to obtain legal advice, you should consult your own attorney.
