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by Nachos Libres
Sun Sep 21, 2008 1:48 pm
Forum: Off-Topic
Topic: Galveston homeowners may lose their homes to the state
Replies: 7
Views: 1896

Re: Galveston homeowners may lose their homes to the state

"Every one of them was warned of that in their earnest money contract, in the deed they received, in the title policy they bought," he said. "And whether you like it or not, neither the Constitution of the United States nor the state of Texas nor any law permits you to have a structure on state-owned property that's subject to the flow of the tide."

Seems to me they knew the risk. Thing is, should the state have to pay people who built houses close to the ocean every time a hurricane or some other natural event occurs which causes shore line to wash away? That means Texas would be having to pay huge sums of monies every 10-20 years just because people want to build vacation / rental homes close to the beach, which we all know would end up affecting our taxes in some way.

Some people may not agree with it but the law is the law and the law was already in place before these people made their decisions to buy their homes and knew the risks. I feel for these people, especially those who will lose a significant amount of assets because of this, but sometimes the risks outweigh the benefits. You won't ever find me owning a beach house, that's for sure.

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