In a 1031 exchange, not all closing costs are created equal. Certain expenses can be covered with exchange proceeds without triggering tax consequences, while others are better handled outside the exchange. What is a 1031 Tax-Deferred Exchange you may ask? An IRC 1031 Exchange permits you to sell property without paying tax on the gain of …
Continue reading “What Closing Costs Can Be Paid in a 1031 Exchange”
As the 89th Regular Session of the Texas Legislature draws to a close, I thought it might be interesting to provide a legislative report covering significant bills impacting real estate matters in Texas. Senate Bill 17 SB 17 is one of several measures introduced this session aimed at restricting certain types of foreign ownership of …
Continue reading “Real Estate Matters In The 89th Regular Session”
In the past, I have written articles on Pipelines and Eminent Domain. These were very popular and with another Kinder Morgan pipeline coming through Walker County, I have written a follow up on pipeline negotiations. Thank you to Tiffany Dowell Lashmet with the Texas A&M Agrilife Extension Service for allowing me to use her article …
Big Brother, Federal Government Regulation, is coming to residential real estate transactions. This is on the heals of the Corporate Transparency Act (discussed in an earlier column). Issued on February 7, 2024, with a stated purpose of “combat[ing] and deter[ing] money laundering in the U.S. residential real estate sector by increasing transparency, the Residential Rule …
Continue reading “Federal Regulation of Residential Real Estate”
It is time of year again, Sam Houston State University Fall semester has begun. With the start of a new Fall semester, there is a flurry of activity with regard to rental property. Whether you own an apartment complex, rent house(s) or just rent a garage apartment, there are some things you should consider as …
Continue reading “Landlord and Tenant Relationships – Tis the Season”
Several years ago, my family took a trip to New York City. While there the Boys and I visited Central Park, a wonderful 843 acres of landscaped greenery in the middle of Manhattan. I was curious as to how Central Park was created and found it to be a good educational opportunity for the Boys. …
Continue reading “Preserving our Past Through Conservation Easements”
Again, this week I am writing about information that might be beneficial if you have a farm, ranch or rural property for hunting. Heck, it might even apply if you raise vegetables to sell at the Saturday Farmers Market in front of O’Reilly Auto Parts. The Texas Legislature addressed a few right to farm topics …
Many of you are aware of real estate that is leased for solar panel and windmill fields, but if you have farm or ranch property, these are not the only options for additional revenue. Carbon storage contracts are a relatively new tool that may not interfere with the current use of the property. Additionally, there …
I have long endorsed the use of Section 1031 of the Internal Revenue Code when selling property. However, many folks do not utilize this very valuable tax deferment when selling investment property. This tax saving tool is not permanent tax savings, but a way to defer taxes at the time of sale by reinvesting in …
Continue reading “Tax-Deferred Exchange With a Farm or Ranch”
There is a common saying “Hindsight is always better than foresight.” However truthful this maybe, it is not very consoling when you experience it. Especially when it involves a large investment like your home or investment property. When buying real estate in Texas you have the duty to have the home inspected. Texas is a …
