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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 111683
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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Our property consisted of 35 acres and a house.When we sold

Customer Question

Our property consisted of 35 acres and a house.When we sold would not have to pay taxes in Texas, exemption $250,000 each.We sold off 10 acres, title company turned it in as if this was our exemption but we can't pay taxes on the other 25 acres plus house.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

So there was a mistake in claiming the exemption on the property that was sold, is that what you are saying?

Customer: replied 1 year ago.
No, loan clerk said this would show up on our taxes as the exemption and when the house sells with the 25 acres we will no longer have the exemption. This was all part of the same property
Customer: replied 1 year ago.
Do you understand what I am saying ?
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your reply.

Unfortunately, when you sell a part or all of your homestead property, the exemption applies automatically to the sale. So, the sale of 10 acres would go towards your exemption I am afraid. If you wanted the exemption to apply to the whole property you had to sell it all at one time I am afraid. This is what the loan clerk is trying to tell you.

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