I am looking at a 10 acre property. The previous owner had a home on 1 piece of the property. They built a new home on the property and when this happened they made the property into 2 separate deeds. I want to buy the whole piece of property. I am a first time home buyer and have a VA loan that I want to use and have been approved for a loan to cover the property.

Can someone help me figure out a way that I can buy both deeds with 1 mortgage.

Have it surveyed into one tract.

jja79 said:

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Have it replatted by a surveyor into one tract.

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FIFY

It may not be part of a platted development but thanks.

There are ways to do this. If both properties are under unity of ownership, the deed can describe the property as Tract 1 and Tract 2, and you can have each tract surveyed.

I believe if you have tract 1 and tract 2 only one will carry the homestead exemption.

The county appraisal district will carve out an acre for the homestead exemption regardless of what you do.

That's not how it is in Harris County. I've been involved in a number of transactions, one currently, where this exact situation exists and surveying the property into a single tract has resolved the homestead issue unless there is an Ag exemption on the other.

We may be talking about two different things. Most CADs have a certain homestead "homesite" that they use for the homestead exemption. It is typically an acre, but can vary, as some HCAD parcels are 1/2 acre. It is not defined by a metes and bounds description unless someone has done it.
Regardless, this can be done rather easily, but care must be taken to avoid losing the homestead exemption on the site the buyer plans to occupy. It can all be re-surveyed as one parcel, but you only get the homestead exemption on the "homesite." Ag exemptions are an entirely other matter.

Regardless of how the appraisal district shows it you want your homestead exemption in Texas to be apply to the entire property. This protects up to 1 million in case of bankruptcy.

nimrodag99 said:

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jja79 said:

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Have it replatted by a surveyor into one tract.

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FIFY

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Don't do this. This adds unnecessary governmental intervention, expense, and time to any transaction for which it isn't a requirement.

dallasiteinsa02 said:

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Regardless of how the appraisal district shows it you want your homestead exemption in Texas to be apply to the entire property. This protects up to 1 million in case of bankruptcy.

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You're talking about two separate things: One is homestead exemption for tax purposes and the other is homestead exemption for protection from creditors. They have nothing to do with each other.