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The best Investment on Earth Is Earth – Louis Glickman
May 2018 Vol 201805-3
Spring Maintenance List
Time to tune in your HVAC
Have a qualified heating and cooling contractor clean and service the outside unit of the air conditioning system
Check your roof and Gutters
Clean up your gutters for any fall and winter debris. Check your roof to inspect any missing shingles
Check your Lawn Watering Schedule
Time to turn on those sprinklers and check your lawn watering schedules and adjust them
Check for any broken sprinker heads and replace those
Clean up your windows and screen
Time to get those windows and screens dusted up
Replace Smoke detector batteries
Time to change the smoke detector batteries and check the smoke detectors
Prepare your Lawn equipment
Time to clean up , oil and prepare your lawn equipment for spring mowing
What is homestead Exemption in Texas. How does it
influence property taxes
Homestead Law protects the primary home by providing for right of occupancy
From ad valorem taxation point of view, a certain portion of the appraised value of a principal residence is excluded from the taxable value. Filing an Homestead Exemption does provide some relief from property taxes for residents of Texas
Filing Homestead also protects from forced sale from creditors and judgments.
Even an abstracted judgment lien will not attach to a homestead property as long as the property retains its homestead character.
The right to occupy the homestead extends to all family members who continue to occupy it, including those who occupy the property after the owner’s death. This protection applies to 1) a spouse 2) a surviving spouse 3) minor children (and in some circumstances their guardian) 4) unmarried children.
Homestead rights commence when the owner uses the property as a homestead
An owner who owns multiple properties may wish to establish which of the properties is the homestead. A lender may require a borrower to designate which property is and is not a homestead as a condition of the loan
Property remains a homestead until death, abandonment, or sale. If the owner dies, the homestead terminates unless there are surviving family members who are still entitled to homestead rights. A homestead is considered abandoned when its use is discontinued and there is no intent to use the property again as a home. Even a temporary absence from the home is not abandonment unless there is intent to discontinue use as a home. The burden of proof for abandonment is on the creditor.
For additional details on Homestead …click here
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