establishing Texas residency

Hello,
I am owning few rental properties in TX and out of state with my primary residence in WA.
I decided to study for TX real estate license. Now that I am about to finish the classes I need to establish TX residency. Please advice how someone from another state can establish TX residency without actually moving to TX. Thank you!

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establishing Texas residency

By Borislav & Mile Salman   
Posted on Jun 11, 2019 in Topic: Property Taxes
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Hello,
I am owning few rental properties in TX and out of state with my primary residence in WA.
I decided to study for TX real estate license. Now that I am about to finish the classes I need to establish TX residency. Please advice how someone from another state can establish TX residency without actually moving to TX. Thank you!

Additional Detail

  • Thanks everyone for the replies!
    I was actually advised by CPA to get a license in TX in order to qualify for tax deductions as real estate professional renting out my own properties.
    I am not looking to participate in transactions like buying or selling real estate or renting properties I don\'t own. I really hope there is nothing illegal here.
    about 1 month ago
Status: Closed
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Asked by: Consumer
Posted: 1 month ago
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Bronze
Greg Buchanan
about 1 month ago
#1 AWARDED - BEST ANSWER
As the previous Realtor stated, I am a Texas Real Estate Broker and I am not qualified to give legal advice. You must seek a qualified attorney for a legal opinion for any legal question. However, having been a broker for more than 40 years here in Texas I can share my experience with you. TREC requires you to be a Texas resident to become a licensed agent in Texas for a very good reason. As a licensed agent you will work under a sponsoring (Texas) broker to be active. The sponsoring broker is responsible for supervising your activities on an ongoing basis. It would not be possible for a Texas broker to properly supervise your activities if you are physically out of state and trying to conduct real estate services to Texas residents. Even the logistics of trying to serve Texas residents from out of state is somewhat perplexing. If you are seeking to participate in real estate commissions on properties you personally buy and sell, it may be more practical for you to become licensed in your state of residence, and then when you seek to participate in a transaction in Texas, ask the Texas Broker for the transaction to pay a referral fee to your Broker as a referring agent (you are referring yourself to the other Broker). Remember, all commissions must be shared Broker to Broker, then your Broker can share with you as per your agreement. If you are not actively licensed in Texas, you cannot represent clients in Texas (even yourself) without violating TREC regulations. TREC is charged with protecting the public (in Texas) and it has been my experience over 40+ years that they do a good job and take their responsibility very seriously. I urge you to not try to circumvent their residency requirement if you actually live out of state. Any TREC investigation (and they do investigate most all complaints) will uncover a noncompliant situation and you and whoever your Texas Broker might be that might participate with you will be held accountable for any noncompliance.

Source:


40 years of Texas real estate supervisory experience

about 1 month ago
Platinum
Mark McNitt
about 1 month ago
Realtors cannot provide legal advice. Speak to an Attorney!

Mark McNitt
MarkKnowsHouston.com
832-567-4357
Bernstein Realty


about 1 month ago
Silver
Antonio Lechuga
about 1 month ago
Just as Mark said, you probably want to consult with an attorney.

I’m assuming that state residency is important because it’s required by TREC to gain licensure in Texas.

The fact that you actually reside in another state can really complicate things or maybe not at all. The only way to get a straightforward answer to this legal question that you have is to ask it of someone who has the knowledge and is qualified to do so. Lawyer, my friend. You should reach out to one.

Best of luck to you.


Source:


https://m.wikihow.com/Become-a-Legal-Resident-of-Texas?amp=1

about 1 month ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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