| Volume 31 Number 8 |
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The People’s Lawyer’s Tip of the Day
Buying a house through what is called a "contract for deed" does not offer you as much legal protection as when you use a more traditional mortgage. A new law, however, gives you the right to convert a contract for deed into a mortgage at any time by requesting the seller convey the property into your name and take back a mortgage. Click here for more.
Texas Approves Windstorm Insurance Increase
Texas Insurance Commissioner Mike Geeslin approved a rate increase for Texas Windstorm Insurance. Effective Feb. 1, windstorm insurance will increase by 12.3 percent for residential policies and 15.6 percent for commercial. The increase comes in the wake of Hurricane Ike, and is beyond the usual 10 percent cap. What does the increase mean for you?
Click here for more.
Yahoo! Executive Steps Down
Yahoo! co-founder Jerry Yang is stepping down as Chief Executive Office. Yang refused to sell Yahoo! to Microsoft for $47.5 billion; more than three times it's current value. The change will not be complete until a replacement is found. What does the future hold for Yahoo? Click here for more.
Big Three American Auto Companies Seek Bailout
Congress is gearing up for a heated debate about whether to give the big three auto companies a slice of the bailout. While some argue that the companies made inferior products and caused their own trouble, others insist that a bailout is essential to preventing massive layoffs and perpetuating the financial crisis. What do you need to know about the Big Three bailout? Are your tax dollars going to good use? Click here for more.
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For the Lawyers
Decedent's children deemed "consumers" in a Texas DTPA claim against funeral home for relocating decedent's body to new burial plot without family's consent. A Texas court of appeals has held that because Texas courts have allowed immediate family members to bring common-law action for mishandling a corpse, family members should also be considered consumers under the DTPA. Click here for more.