 My Question Gets A Bit More Difficult. I'm A Real Estate Agent Who Has A Client Who Bought Property 2 1/2 Years Ago. He Lived In The Main House And Split Off Part Of The Property And Built/sold A 2nd Residence. After Selling The 2nd Residence, (which He Will Be Paying Taxes On), He Then Replaced The Original Dwelling With A New One. Will He Need To Pay Taxes On This New House As Well? He Has Lived In The Original Home For Over The 2 Years And Does Qualify For The Temporary Absence But Will He Have To Pay?? He Knows He Must Pay On The One He Built And Split Off The Property, But What About This One That Replaced His Original Home?
Thanks!! |
The property may be put up for foreclosure if defaulted on the payment of the mortgage. The bank will forclose and sell the property for what is owed at the present time. The new owners are buying the property in an "As is condition" with no
WHCouch 
28 Oct 2007 01:19 
