We own two investment properties in Central TX. In May 2016, we retired and moved back to TX after being gone since from the state since 2004. In Sep 1999, we rented out our Harker Hts, TX (could not sell it as there was a glutton of new housing
on the market) to a different home in Belton, TX which served as our primary residence. We put the Belton property into service as a rental in Oct 2004 due to working overseas for the US government. We want to sell both houses in Feb/Mar 2017 once they are vacant, but we are concerned about the tax impact event though we are retired with our principal residence in San Antonio, TX (as of May 2016). We need to know what the rules are-- concerned about rules on capital gains or whether we have to pay back depreciation on both houses.
JA: I'm not sure of the exact price, but there's only a $5 deposit. The rest of the price information will be on the page I send you to.
Customer: What is the $5.00 deposit for? Thought I'd have to make an appointment with the attorney.
JA: Because real estate
law varies from place to place, can you tell me what state this is in?
JA: Has any paperwork been filed?
Customer: What kind of paperwork? We are only in the consultation phase at this point.
JA: Anything else you want the lawyer to know before I connect you?
Customer: Is Is