Posted on: 24th Jun, 2009 03:05 am
Hello,
My husband and his parents are all on the title for
the house that we (my husband and I) live in currently, it's a joint tenant title. The mortgage loan itself is in my in laws names only.
My in laws are the ones who put in the money for the down payment on the house and are the ones who pay the taxes and for any upgrades and repairs on the house as well. They are renting the house to my husband and up until I moved in about 2 years ago my husband was only making $400 in rent to them and then had roomates take care of the rest. When I moved in we are now paying $1100 for the rent but my in laws are still putting in $200 to finish out the mortgage payment.
I am asking if a quick claim can be back dated because they have just found out that they have been filling their taxes wrong by claiming a 100% on the house when with my husband being on the title they shouldn't have been claiming 100% because of them being joint tenants.
So now they are being audited for the last 10 years, to when they first bought the house, and she seems to think that if we can file a quit claim and back date it to where it shows that he was "never" on the title it will keep them from having to pay any taxes. I just want to see if that is even possible and/or legal??
My husband and his parents are all on the title for
the house that we (my husband and I) live in currently, it's a joint tenant title. The mortgage loan itself is in my in laws names only.
My in laws are the ones who put in the money for the down payment on the house and are the ones who pay the taxes and for any upgrades and repairs on the house as well. They are renting the house to my husband and up until I moved in about 2 years ago my husband was only making $400 in rent to them and then had roomates take care of the rest. When I moved in we are now paying $1100 for the rent but my in laws are still putting in $200 to finish out the mortgage payment.
I am asking if a quick claim can be back dated because they have just found out that they have been filling their taxes wrong by claiming a 100% on the house when with my husband being on the title they shouldn't have been claiming 100% because of them being joint tenants.
So now they are being audited for the last 10 years, to when they first bought the house, and she seems to think that if we can file a quit claim and back date it to where it shows that he was "never" on the title it will keep them from having to pay any taxes. I just want to see if that is even possible and/or legal??
pippin702
As far as my knowledge goes it can not be backdated . Here is the link what US laws state about it.
"http://www.uslaw.com/library/Elder_Law"
keep in touch.......
[External link deactivated as per forum rules]
As far as my knowledge goes it can not be backdated . Here is the link what US laws state about it.
"http://www.uslaw.com/library/Elder_Law"
keep in touch.......
[External link deactivated as per forum rules]
even if it's possible, it sure wouldn't be legal. the mere fact of being audited does not necessarily equate to problems. occasionally, the irs will come back and say all is well.
it is not possible & will be treated as illegal.