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Updated almost 4 years ago on . Most recent reply presented by

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Tax, SDIRAs & Cost Segregation

selling 1/2 of property to tenant?

Kevin Turano
Posted

I own a property with two mobile homes and land free and clear, I bought it for 45k about 10 years ago .  Texas.  One of the tenants wants to purchase "his half" for 60k cash.  I cannot "divide the property" due to septic tank restriction.  Could I transfer 50 percent ownership to him in exchange for the cash?  What problems could this cause?  Please advise.

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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
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  • Greer, SC
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Why can't you deed half the property along with 50% ownership or a right of way for the septic tank?

I'd talk to an attorney.  

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