Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 2 years ago on . Most recent reply

User Stats

100
Posts
22
Votes
Billy Au-Yeung
  • Lender, RE Broker
  • Renton, WA
22
Votes |
100
Posts

Foreclosure & Regaining ownership

Billy Au-Yeung
  • Lender, RE Broker
  • Renton, WA
Posted

I have a client in a very odd situation and wondering whether he would qualify for capital tax gain exemption since he had lived in the property for over 2 years.  Below is the timeline:

2005- Bought an investment property

2010- Foreclosure and went thru legal litigation to regain ownership

2010-2015 Living in this property as a primary residence and paid all the property taxes

2019- Regained ownership of the property

2019-2023 Converted back to investment property

2023- selling the property

I asked a couple of title officers and they also checked with their team but they don't have a clue.  I am wondering whether anyone had gone thru this situation.  Thanks.

  • Billy Au-Yeung
  • Loading replies...