Posted on: 09th May, 2009 07:28 am
While involved in a owner financed deal , is the buyer able to write off the taxes for the property if they are paying them under the agreed contract ?
That is really a question for a tax professional. Check with your accountant.
Hi dfchandler,
Will the title be transferred to you straightaway? or will it be transferred upon satisfactory fulfillment of the contract? If the title will be transferred to you straightaway, then you will be the legal owner of the property and can claim the property tax deductions. But otherwise, you cannot. However, it's better to consult a tax consultant regarding this matter.
Thanks,
Jerry
Will the title be transferred to you straightaway? or will it be transferred upon satisfactory fulfillment of the contract? If the title will be transferred to you straightaway, then you will be the legal owner of the property and can claim the property tax deductions. But otherwise, you cannot. However, it's better to consult a tax consultant regarding this matter.
Thanks,
Jerry
