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My husband and I are going in with our son in-law and

Customer Question
daughter buying real estate for...
My husband and I are going in with our son in-law and daughter buying real estate for investment. What is the first step in getting all the legal issues in order.
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: Texas
JA: Has anything been filed or reported?
Customer: No
JA: Anything else you want the lawyer to know before I connect you?
Customer: We will also need info to find out if POA's are necessary. Our son in-law and daughter are expats in South Africa. We all be in Texas in mid December if physical presence is needed to put things in place.
Submitted: 1 year ago.Category: Real Estate Law
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Answered in 32 minutes by:
11/20/2016
Real Estate Lawyer: GoldLaw,
 replied 1 year ago
GoldLaw
Category: Real Estate Law
Satisfied Customers: 1,621
Verified

Hi there,

I will try to assist you with your legal question but please feel free to ask as many follow up questions as you like until you are 100% satisfied.

This is a further information request so that I can provide you a proper answer to your legal question. Please continue in this same question thread.

Which country are you buying property in? USA or SA?

How do you intend buying the property? In the name of you all personally, or in the name of a partnership, or the name of a company, or in the name of a trust? Have you obtained any accounting advice on income tax, etc?

Will you be renting out the property to somebody?

Awaiting your further information.

Regards

CaseLaw

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Real Estate Lawyer: GoldLaw,
 replied 12 months ago

Hi there again,

I see that you've read my information request, but not yet replied. Do you still need assistance?

Regards

CaseLaw

Ask Your Own Real Estate Law Question
Customer reply replied 12 months ago
It is not a South African law question it only pertains to US law. I have decided to wait and get everything set up when we are back in America
Real Estate Lawyer: Ray, Lawyer replied 12 months ago
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 43,465
Experience: Texas Attorney for 30 years dealing in real estate
Verified

Ray here a Texas lawyer do you have questions I can help you with?

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Customer reply replied 11 months ago
Good Morning Ray,
I will attempt again to get answers to my question since I have seen the charge for this service. We (my husband and I) are American expats that will be returning to the US shortly for an extended amount of time. We are doing our homework on what it would take to go into a partnership with son in-law and daughter, who are also American expats in South Africa. they will be staying in South Africa. The partnership will be buying real estate for investment. What are the first steps in setting up the partnership? We will be starting in the state of Texas. We are employed as Construction Managers and do travel both nationally and internationally. We have looked into an LLC and think that would be the best way to set up although we are open to suggestions. This has nothing to do with South African Law.
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