Real Estate Law and Asset Protection
for Texas Real Estate Investors
By David J. Willis, J.D., LL.M.
Texas Attorney & Real Estate Broker
2025 Edition, 817 pages
“The most important real estate book you will ever read!” – Attorney Keaton Frieberg, San Antonio
Table of Contents
PART I. CONTRACTS AND CLOSINGS
Chapter 1 – Beyond the TREC 1-4 Residential Sales Contract
Chapter 2 – Seller Disclosure and the “As Is” Clause
Chapter 3 – Title Insurance
Chapter 4 – Earnest Money Disputes
Chapter 5 – Affidavits of Heirship
Chapter 6 – Lis Pendens
PART II. OWNERSHIP AND TRANSFER OF TEXAS REAL ESTATE
Chapter 7 – Deeds in Texas
Chapter 8 – Co-Ownership of Real Property
Chapter 9 – Deeding Property to an LLC
PART III. NOTEWORTHY STATE AND FEDERAL LAW
Chapter 10 – Deceptive Trade Practices Act
Chapter 11 – Fraud at Common Law and the Statutory Fraud Act
Chapter 12 – Executory Contracts in Texas Real Estate
Chapter 13 – The Statute of Frauds
Chapter 14 – Mortgage Loan Fraud
Chapter 15 – Safe Act and Dodd-Frank
Chapter 16 – Corporate Transparency Act and FinCEN Reporting
PART IV. CREATIVE TRANSACTIONS IN TEXAS REAL ESTATE
Chapter 17 – Seller Financing in Texas Residential Transactions
Chapter 18 – Assumptions
Chapter 19 – “Subject To” Transactions
Chapter 20 – Wraparound Transactions in Texas
Chapter 21 – Due-on-Sale Considerations
Chapter 22 – Lease -Options, Lease-Purchases, & Preferential Rights
Chapter 23 – Adverse Possession in Texas
PART V. LLCs, PARTNERSHIPS AND JOINT VENTURES
Chapter 24 – LLC Formation in Texas
Chapter 25 – Series LLCs: An Overview
Chapter 26 – Series LLCs: Registered, Protected, & Ordinary Series
Chapter 27 – Sale and Transfer of LLC Membership Interests
Chapter 28 – Confidentiality and Non-Compete Agreements in LLCs
Chapter 29 – LLC Tax and Banking Issues
Chapter 30 – Piercing the Veil
Chapter 31 – Partnerships and Joint Ventures
PART VI. TRUSTS IN TEXAS REAL ESTATE
Chapter 32 – Basic Principals of Living Trusts
Chapter 33 – Living Trusts for the Homestead
Chapter 34 – Investor Land Trusts
PART VII. ASSET PROTECTION STRUCTURING
Chapter 35 – The Classic Two-Company Structure
Chapter 36 – Graphics of Asset Protection Structures
PART VIII. ASSET PROTECTION STRATEGIES
Chapter 37 – Asset Protection in Texas
Chapter 38 – Anonymity in Texas Real Estate
Chapter 39 – Assumed Names
Chapter 40 – Homestead Protections in Texas
Chapter 41 – Lein Release and Removal
Chapter 42 – Equity Stripping for Asset Protection
PART IX. EVICTIONS AND FORCLOSURES
Chapter 43 – Evictions in Texas
Chapter 44 – Foreclosures in Texas
PART X. TEXAS LITIGATION AND JUDGMENTS
Chapter 45 – Texas Litigation: An Overview
Chapter 46 – Partition of Texas Real Estate
Chapter 47 – Mediation
Chapter 48 – Judgments in Texas
Chapter 49 – Fraudulent Transfers to Avoid Creditors
Chapter 50 – Charging Orders
PART XI. OTHER TOPICS OF INTEREST TO TEXAS REAL ESTATE INVESTORS
Chapter 51 – Redemption Issues for Invertors
Chapter 52 – Security Deposits in Texas Residential Leases
Chapter 53 – Hard Money Lending
Chapter 54 – Buying and Selling Real Estate Notes
Chapter 55 – Wholesaling of Residential Earnest Money Contracts
Chapter 56 – Buying or Selling a Business
Chapter 57 – Higher-Priced Mortgage Loans
Chapter 58 – The Texas Realtors Residential Lease
Book Reviews
“This book is amazing! It incorporates the author’s practical perspective from decades of experience and includes many great tips and creative solutions. ” — Attorney Zachary Coop, Dallas
“I’ve been a practicing real estate lawyer for a long time but David and his books are my first resource. His most recent edition is a must read for Texas real estate investors. ” — Attorney Donald Jones, Dallas
“The most important real estate book you will ever read!” — Attorney Keaton Frieberg, San Antonio
“David’s book definitely helped when I took the board certification exams.” — Attorney Derek Pershing, Houston
“Extremely informative read. Very well done.” — Attorney Christopher Barber, Houston
“Your book is a very easy and informative read. I will gladly and confidently refer clients to you.” — Attorney Kevin J. Smith, Houston
“As an attorney I am familiar with David Willis’s expertise in real estate. If David wrote it and you read it, you can depend on it! I highly recommend this book.” — Attorney Paul Spielvogel, The Woodlands
“David Willis’ book is the best reference out there on need-to-know real estate law in Texas, for both practitioners and investors alike.” — Attorney Jason Kraus, Houston
“I love this book because I often get calls from clients that are looking for the right kind of business entity to minimize personal exposure and maximize asset protection. This book covers those issues and more.” — Attorney Richard Weaver, Houston
“Excellent book!” — Attorney J. Thomas Black, Houston
“I am an attorney and a life-long real estate investor. This book is a great tool. I would strongly suggest that anyone who is serious about investing in real estate should have a copy of this book as a reference even if you don’t live in Texas.” — Attorney Paul Katz, Boulder
“This book is a great read. I’m recommending it to all of my investor clients and friends.” — Broker Tony Garrant, Austin
“As a corporate attorney who does a good deal of real estate transactions, I can say with coincidence that David is the real estate law leader in Texas.” — Attorney Kevin Vela, Dallas
“I was impressed with this book. It will benefit real estate investors and real estate attorneys.” — Attorney James Robert Smith, Houston
“As a Texas real estate broker and investor in residential properties, I found this book well written and well laid out for us ‘non-lawyers.’ The chapters and subjects are organized well, so you can refer to the sections you need, when you need them. Recommended to anyone in Texas who is investing in multiple properties or who represents investors who do.” — Broker M.L. Moore, Austin
“This is an amazingly well written book, and any Texas real estate investor should consider this book as their go-to legal reference. Mr. Willis covers a wide range of pertinent topics with enough detail to whet the readers appetite for most of the legal risks and mitigating controls relevant to an investor. I highly recommend this book.” — Amazon reader oscillationstation
“I have been a licensed RE agent for 10 years and new to the investment side of RE. After receiving this book I immediately began reading, the learning started from page one and has not stopped. It is a bible of real estate law, highly recommended” — Amazon reader Patrick J.
“Awesome with all details on Texas real estate business.” — Amazon reader Jessica Zack
“Attorney David J. Willis has written an excellent book for people who are considering real estate as an investment . . . This book gave me a huge advantage over my competitors. . . . In a world ridden with real estate seminar hype about foreclosures, wraparounds, LLC’s, etc., this book allowed me to see right through so much of the bad information that is out there. Beginning real estate investors as well as seasoned pros will find this book indispensable, and I’m lucky to have read it before I did my first real estate deal.” — Barnes & Noble reader Gene of El Paso
“This book is a strong book on many Texas Real Estate topics. It not only goes over the law but also gives you suggested strategies, depending on what side of the transaction you are on.” — Amazon reader SMG
“Fantastic resource. Excellent book, highly informative and thorough. Easy to understand and you can tell the author has had extensive practice in real-life scenarios from both the real estate and law side. Highly recommended. “ — Amazon reader Niva78
“A very good Real Estate Investors’ handbook.” — Amazon reader Olu Ojayi
“This is a very comprehensive and in-depth discussion of many legal aspects of real estate investing. Mr. Willis provides valuable interpretations of recently written changes to Texas laws. This book is a goldmine of information that will allow real estate investors to be informed and free of trouble with Texas laws. The author also describes how Texas laws and legal entities can protect wealth and valuable assets from attacks by creditors and frivolous lawsuits. I highly recommend this book. Its cost is tiny in comparison to an hour of attorney’s time to learn this information or to prevent a legal issue that is discussed in this book.” — Amazon reader Dan Nicholson
“Awesome! I read most of the book in one sitting, not because it’s a quick read, but because the writing style of the author makes absorbing the information easy. He does a wonderful job of explaining the details in a way where they make sense the first time. That made the first read of this book nearly effortless. I applaud David J. Willis for writing this book.” — Amazon reader Valerie McGilvrey
“Very informative! This book makes the legal aspects of real estate investing understandable for ordinary investors like me. I keep a paperback copy on my desk. Thank you Mr. Willis.” — Amazon reader i.lights