Legal Question in Securities Law in Texas
can a texas based company that is not a realtor co, but a real estate investor company, buy a property and then offer a promissory note to a client to pay interest and use the money for rehab, when the note is secured to the property for payment, or is that a security,? it would be a 3 year note.
Asked on 4/13/12, 1:08 am
1 Answer from Attorneys
Andrew Nichols
Law Office of Andrew B. Nichols
It sounds like a real estate limited partnership and would most likely be classified as a security.
Answered on 4/13/12, 10:02 am
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