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Old 01-24-2014, 08:58 AM
 
2 posts, read 4,807 times
Reputation: 10

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I will be getting married soon and both my future spouse and I own homes. I will move to his home but use my home as a rental. Neither one of us currently will be on the others deed. Will I loose my homestead exemption if my house will be considered a rental and not my permanent residence, even though my name is not on his property?
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Old 01-24-2014, 12:24 PM
 
Location: Austin, TX
16,787 posts, read 49,120,789 times
Reputation: 9483
Legally, if you do not live there you are not entitled to the homestead exemption. Also you and your spouse are only allowed to have one total between you.

This is what the Homestead Exemption Application form says for Travis County.

Quote:
GENERAL RESIDENCE HOMESTEAD EXEMPTION
(Tax Code Section 11.13): You may qualify for this exemption if for the current year and, if filing
a late application, for the year for which you are seeking an exemption:
(1) you owned this property on January 1;
(2) you occu
pied it as your principal residence on January 1; and
(3) you and your spouse do not claim a residence homestead exemption on any other property.
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Old 01-24-2014, 02:31 PM
 
8 posts, read 59,958 times
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The homestead exemption is only applied to a PRINCIPAL RESIDENCE, and you are entitled to ONE and ONE ONLY.
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Old 01-24-2014, 02:32 PM
 
2 posts, read 4,807 times
Reputation: 10
thanks for your reply but I still do not understand how this applies when neither of us on the others deed. I will give them a call to see if there is an exception as to my case.
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Old 01-24-2014, 08:58 PM
 
Location: Austin
7,244 posts, read 21,838,117 times
Reputation: 10015
Texas is a community property state. Unless you have a pre-nup, as soon as you get married, what's yours is his and what's his is yours. His homestead becomes your homestead, and you cannot have a homestead on a rental property, period, even if it was your only house.
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Old 01-25-2014, 11:54 AM
 
Location: Austin, TX
16,787 posts, read 49,120,789 times
Reputation: 9483
Quote:
Originally Posted by Marriage1 View Post
thanks for your reply but I still do not understand how this applies when neither of us on the others deed. I will give them a call to see if there is an exception as to my case.
LOL, what part of this don't you understand?

Quote:
GENERAL RESIDENCE HOMESTEAD EXEMPTION
(Tax Code Section 11.13): You may qualify for this exemption if for the current year and, if filing
a late application, for the year for which you are seeking an exemption:
(1) you owned this property on January 1;
(2) you occu
pied it as your principal residence on January 1; and
(3) you and your spouse do not claim a residence homestead exemption on any other property.
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