Posted on: 03rd Mar, 2009 06:20 pm
while in the process of getting a house my husband told me that since we wanted to get 2 houses, the first one would be on his name (and for which i signed a quit claim deed) because he said that when we get a second house it would be on my name because of the benefits for first time owners. was that a good move? and if he dies, what would happen with that first house? we have 3 children. thanks for your help.
claudia
claudia
Hi Claudia,
This looks like a good move. If you own two different houses with your husband on the first and you on the second, both of you can avail the first time home buyer tax credit. In case, God forbid, your husband passes away, you can file an affidavit of heirship with a probate court to get the title in your name. He can also prepare a will indicating clearly as to who would own the house in his absence. Thus I don't think getting the house in your name after your husband's death will be a problem.
This looks like a good move. If you own two different houses with your husband on the first and you on the second, both of you can avail the first time home buyer tax credit. In case, God forbid, your husband passes away, you can file an affidavit of heirship with a probate court to get the title in your name. He can also prepare a will indicating clearly as to who would own the house in his absence. Thus I don't think getting the house in your name after your husband's death will be a problem.
"Was that a good move?"
rather it's a good move. but you need make it sure that he prepares his will (you also prepare your own will putting the heirs on it your absence) put whomever you want to be beneficiary of the property.
Surely you will get returns on this move.you won't be in problem if both of you prepare will and clearly mention the beneficiary/beneficiaries. :wink:
rather it's a good move. but you need make it sure that he prepares his will (you also prepare your own will putting the heirs on it your absence) put whomever you want to be beneficiary of the property.
Surely you will get returns on this move.you won't be in problem if both of you prepare will and clearly mention the beneficiary/beneficiaries. :wink: