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Denton Texas Legal Blog

Maximizing the return on your land as a property owner

Many landowners across the United States own properties that contain oil, gas or other mineral resources beneath their surfaces. In exchange for these coveted resources, many receive royalties. In fact, the National Association of Royalty Owners estimates that nearly 12 million American landowners receive royalties for companies extracting minerals from their properties.

In Texas, mineral rights are a common issue for property owners. Whether you already own property or are looking to purchase, it is important to understand your rights, as well as how to maximize the potential return on any resources on such property.

Which business form should I choose?

One of the first decisions you have to make when starting a business in Texas is which business form you will use. There are a few options, and each one has specific requirements, benefits and characteristics. According to the Texas Secretary of State, there are five main business form options.

A common choice, if you are opening a business on your own, is a sole proprietorship. The main requirement is one business owner. You also carry the business liability as a personal liability.

What exactly is an estate plan?

You may hear the term "estate plan" and feel a bit intimidated. This can stem from the feeling that what you own does not feel like an estate. Maybe you believe that estate planning is only reserved for the rich and famous. The truth is, estate planning is for everybody and there is no need to feel intimidated.

Getting the facts on fair market value

When the government decides that it wants to use your Texas property, it will invoke eminent domain to acquire it from you in exchange for what the Fifth Amendment of the Constitution calls “just compensation.” However, you might not agree with what the government says your just compensation should be. By finding out what the fair market value of your home is, you can make the case for a fairer price for your property.

As FindLaw explains, the fair market value of your home is a key factor in determining the valuation of your home. Fair market value is what people would reasonably consider a piece of property to be worth. For the purposes of eminent domain, fair market value would produce the amount that the government would be willing to compensate the property owner for.

Avoiding delays in real estate development projects

Delays can be very costly to a real estate development project. They can significantly throw off a developer’s plans and goals. So, avoiding unnecessary delays can be critical for real estate developers here in Texas.

There are a range of things that can delay a project. For one, legal problems and disputes can have this effect. So, among the delay-prevention steps developers can take is making sure legal matters related to the project are in order and that any unexpected legal issues that come up are promptly addressed. Skilled real estate lawyers can assist developers with efforts to avoid project delays related to legal issues.

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Kelsey, Kelsey & Hickey, PLLC - Estate Planning

Kelsey, Kelsey & Hickey, PLLC
2225 E. McKinney Street
Denton, TX 76209

Phone: 940-387-9551
Fax: 940-387-9553
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