Third Avenue Development Corp is a real estate division of Taylor Consulting Inc. Apparently, the company is adding another large piece of land to its real estate collection. The company recently announced that it has finished its due diligence for the project. This particular addition will include 10 acres near Abilene, Texas. This area is still booming with new oil and gas drilling and development. The property is located in Tye, Texas. Tye is a small community in Taylor County. The ongoing Cline shale boom has increased the population in the area along with work. A growth in people often means a growth in personal injury cases. Injury cases resulting from this type of growth comes from additional car accidents including those involving company vehicles and workplace injuries and premises liability injuries.
A challenge for companies expanding in this part of Texas is finding a Texas law firm that has unique experience in both real estate law and personal injury defense law. Often times when companies are sued, the company informed the insurance carrier. The insurance company usually hires and pays for defense lawyers. However, sometimes insurance companies drag their feet and other times they simply deny the claim. A wrongful denial of an insurance claim can lead to a bad faith claim against the insurance company.
With the West Texas oil boom showing few signs of slowing down, we may expect to see the rise in litigation in the area. For companies targeting the acquisition of large, bulk-lot properties in oil booming areas, we anticipate that they will want to hire qualified Texas lawyers that know dirt and injury law.
– Article by Richard Weaver, a Texas real estate lawyer.