Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago,

User Stats

1
Posts
0
Votes
R Ferris
0
Votes |
1
Posts

Acquisition options TX house + land + equipment

R Ferris
Posted

I live in a rural area in Texas and am considering acquiring a neighbor's three acre place (house, land, equipment).  I'm concerned about the tax ramifications.  The taxes on my place are frozen under Tx law due to age and disability and I'm concerned that if I purchase an adjacent plot then the taxes will be reassessed to current market value and then re-frozen. 

For these reasons I'm looking for "unconventional" (but legal) ways to acquire the land and was hoping I could get some advice from experts on this forum.  Ideally, I'd like to keep them separate entities (one as investment and one as homestead).  One idea is to purchase the land/house separately from the removable barn and thus reduce the cost (there would be two contracts, one for the property and one for the removable barn).  I don't know how this would work in practice.  Another option would be for each party to gift each other somehow (we've known each other for years and have full trust) - a quick deed and a cash gift.  I don't know how this would work in practice either. 

Thoughts on all this please?  Other options?

Loading replies...