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mandafern · Joined: 24 Aug 2009 Posts: 2 1.00 Dollars($)

In 2005 my name was added to the deed for all of my mother's property including her house for security reasons (similar to a power of attorney). It is not my primary residence, nor do I pay taxes or mortgage on the property. I have never bought a house or had my name associated with any other property. Do I qualify for the first time home buyers tax credit?

smithsussane · Posted: Mon Aug 24, 2009 10:05 pm Post subject:

Hi mandafern!

Welcome to forums!

The tax credit for first time homebuyer is available for homes purchased on or after January 1, 2009 and before December 1, 2009. As you've purchased the property in 2005, you won't be able to take advantage of the first time homebuyer's tax credit.

Feel free to ask if you've further queries.

Sussane

mandafern · Joined: 24 Aug 2009 Posts: 2 1.00 Dollars($)

I am looking at purchasing my first home, not looking for credit on the home that my mom lives in. We didn't purchase her home in 2005, it was built by my family in the 1930's.

Like I said before- I was added to the deed to her house in 2005 and am looking to purchase my first place now. I have never bought a house nor had my name associated with any other property. Do I qualify for the first time home buyers tax credit on a house I would buy before November 1st?

adonis · Posted: Tue Aug 25, 2009 8:05 pm Post subject:

Hi mandafern,

You've mentioned that you were added to the property deed in 2005. This means that you are an owner of the property. In such a situation, if you purchase a property solely in your name now, you won't qualify for the first time homebuyer's tax credit. In order to qualify for this tax credit, you should not own a property in the last 3 years.

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Name on deed-- Do I qualify for first time home buyers credit?