This Texas Lease Agreement shall be governed, construed and interpreted by, through and under the Laws of the State of Texas.27.

Nice to have an official confirmation, but most of tax pros, including you and I, already interpreted it this exact way

Did I interprete this wrong or PM is playing a smart one on me?

How you interpret the law is not so explicitly expressed in the law, so please read it from the link below: https://www.thelpa.com/lpa/lan..."

I find a lot of people just assume that since they inherently trust their friend/family member, a lot of the "what ifs" and worst-case scenarios are not hammered out in fine detail which can lead to confusion and personal interpretation after the deal is closed, which it should have been addressed pre-emptively before the money was lent out.

For more information regarding interpretation, it is advised that you consult a lawyer.CorporationA Corporation is an incorporated entity with its own rights and responsibilities as a distinct person under the law.

Most lenders adhere to Fannie Mae/Freddie Mac guidelines but each lender seems to interpret them differently.

Keep in mind the code has to be interpreted, and in Texas that can be done 300 different ways.

Sorry, but it's hard for me to interpret exactly what you are trying to say here. 

@Jarvis Smith It can be tricky on your state, it seems that your state can file lien even if they have not filed notice, I have read it a little bit, but local interpretations could be different, had you visited your state contractor regulatory board though, your whole situation would have been avoided.