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I want to buy half interest in a house from a divorced

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I want to buy...

I want to buy half interest in a house from a divorced couple. The X husband wants to sale his half interest. To buy his equity share in a cash buyout. Will the house have to be reassessed after the transaction?

Lawyer's Assistant: OK. The Real Estate Lawyer will need to help you with this. Have you consulted a lawyer yet?

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Submitted: 2 years ago.Category: Real Estate Law
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Answered in 5 minutes by:
2/24/2016
Real Estate Lawyer: Ray, Lawyer replied 2 years ago
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,844
Experience: Texas Attorney for 30 years dealing in real estate
Verified

Hi and welcome to JA. Ray here to help you today.

The house here likely gets reassessed anytime there is a change in ownership.It is possible here to buy out his interest and also to force a sale through a suit for partition if you have to here.But there is a title change to you and this will cause reassessment by the tax assessor.

I appreciate the chance to help you today.Thanks again.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

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