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My Name is On Deed, But not Loan, am I responsible for past loans against my house?...My husband recently put my name on the Deed to our House. I was never on the loan papers. If he made a loan using our home as collateral prior to our marriage would I be responsible for payment of that note?

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Dmccal!

Welcome to the forums!

If your mother's name is mentioned on the property deed, then she will remain one of the owners of the property even after your father passes away. However, after your father's death, she will have to [url=http://www.mortgagefit.com/refinance.html]refinance[/url] the mortgage to get the loan transferred in her name.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Wed, 03/20/2013 - 21:33 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My Mother is on the deed in NH but not on the reverse morgage. She is being told that she needs to be on the morgage if my Dad passes. She went to refinace but it will cost to much. Dose she still have riths to the property if my Dad passes away?

Like | Dislike | Share | Posted: Wed, 03/20/2013 - 17:03 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My name and my husband's name is on the deed to our home. His name is the only name on the mortgage. We would like to sell our existing home and purchase a new home of greater value. My question is 'Can I withdraw money from my traditional IRA, without incurring penalties, since this is my first home purchase' or am I not considered a first-time home buyer b/c my name is currently on a deed? Thank you.

Like | Dislike | Share | Posted: Thu, 03/01/2012 - 11:29 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Is my ex responsible for half of the property taxes. When they no longer live here?

Like | Dislike | Share | Posted: Sat, 03/16/2013 - 03:51 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband is on the Mortgage loan only. I and my spouse are on the deed of trust. Can a credit card company put a lien on my house?

Like | Dislike | Share | Posted: Mon, 08/27/2012 - 08:33 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Sandra!

Welcome to forums!

If you're one of the owners of the property, then your creditors can place a lien on it if you don't pay off the debts.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Tue, 08/28/2012 - 00:48 | Post subject:

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smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi virgi!

Welcome to forums!

As the loan is not mentioned in your credit report, I think you're not one of the mortgage holders. You are just a property owner but not liable for loan payments. In such a situation, I don't think his bankruptcy filing will affect you.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Wed, 08/29/2012 - 23:00 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

hello, i need some help. I get a divorce a year ego and the property were i was living with my ex its in foreclosure, he declare this loan in a bankkrrupcy, I know that Im in the deed with him, am not sure if am in the mortgate (this loan its not in my credit report) but i found the paper mortgage and my signature was there. the loan its under his name. I recently asked for a credit to buy a house in my bank and they approved me. I dont know if this its going to afect me
please help!!

Like | Dislike | Share | Posted: Wed, 08/29/2012 - 10:12 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi DMC!

Welcome to forums!

As your name is already mentioned on a property deed, you won't be considered as a first time home buyer when you apply for another loan and property.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Fri, 03/02/2012 - 00:59 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I own a mobile home and want to add my boyfriend's name to the tittle. What will this cost? I live in Oklahoma

Like | Dislike | Share | Posted: Thu, 03/22/2012 - 17:43 | Post subject:

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adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome daisypetal,

You will have to use a quitclaim deed in order to add your boyfriend's name to the property deed. You will have to contact a real estate attorney who will help you in drafting the deed. You will have to pay the fees of the attorney for this. This fees will vary from one attorney to another.

Like | Dislike | Share | Posted: Fri, 03/23/2012 - 00:36 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my husband passed away and my house is in forcloser and my name and my husband name is on the deed but my name is not on the lone what do i do i dont want to move lived here 51 years

Like | Dislike | Share | Posted: Mon, 04/02/2012 - 22:19 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest!

Welcome to forums!

If your name is not on the mortgage docs, then you're not personally liable for the mortgage payments. However, if you want to save the property, then you should contact your lender and try to [url=http://www.mortgagefit.com/refinance.html]refinance[/url] the mortgage in your name.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Tue, 04/03/2012 - 01:05 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi minnikolae!

Welcome to the forums!

If your husband's name is not on the property title, then he is not liable for paying taxes for the rental income. If both of you keep your names on the property title, then both of you will be equally liable for the taxes.

Feel free to ask if you have further queries.

Sussane

Like | Dislike | Share | Posted: Mon, 03/11/2013 - 22:53 | Post subject:

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minnikolae | Joined: March 11, 2013 03:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Can I ask a question about an invsetment property in United Kingdom (the one that is rented by tenenats already). For that particular property if my husband's name is on the mortgage but not on the title and I'm the sole owner of the title (I'm also in the momtgage) does he's responsible for paying taxes from the rental income through the whole tax year? Also in case we keep that rental proeprty as it is at the moment 50 % his - and 50 % mine, does the rental tax at the end of the tax year should be separate in 2 and eveyone to pay his part of the tax.

Like | Dislike | Share | Posted: Mon, 03/11/2013 - 15:59 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My ex-husband wants me to have his house, in Fl., if he should die..My name is on deed & mtg. he is refinancing to remove my name from mtg. Can he leave my name on deed to prevent probabte problems in future..we are good friends. I now reside in another state.

Like | Dislike | Share | Posted: Mon, 01/28/2013 - 16:27 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

If I'm on the deed and not the mortgage and the house sells do I get part of the profit since I'm not on the mortgage and if it gets sold at a short sale am I responsible for the difference. Also is my signature nescessary for my husband to sell the house since I'm only on the deed. Also if it does go for short sale does the government look at that as a profit and I have to pay taxes because it will look like aprofit since the bank accepted less than what we owed.

Like | Dislike | Share | Posted: Tue, 06/12/2012 - 04:37 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi tina,

If your name is mentioned on the property deed, then you will be considered as one of the owners of the property. If the property is sold off, you should get a share of the sale price. Your signatures are necessary for the sale of the property.

Like | Dislike | Share | Posted: Wed, 06/13/2012 - 01:52 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi smalltime,

If the name of your ex-spouse is mentioned on the property deed, then he/she is responsible to pay the taxes.

Thanks

Like | Dislike | Share | Posted: Mon, 03/18/2013 - 01:55 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Margaret,

There is hardly anything that can be done. Unless your father's name is mentioned on the property deed, he won't be considered as an owner of the property.

Thanks

Like | Dislike | Share | Posted: Sun, 11/04/2012 - 22:46 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi wvredhead!

Welcome to forums!

It is you who should refinance the mortgage in your name in order to remove his name from the mortgage. Your name can remain on the property deed as it will help you remain the owner of the property. Apart from that, he can also sign a quitclaim deed in order to remove his name from the property deed and transfer the property to you.

Feel free to ask if you’ve further queries.

Sussane

Like | Dislike | Share | Posted: Mon, 01/28/2013 - 21:41 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest,

If your name is mentioned on the property deed, then you will be able to get your share of the property though you file for divorce.

Thanks

Like | Dislike | Share | Posted: Mon, 09/17/2012 - 00:26 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

We refinanced our home and the only way for credit was to remove me off the mortgage but I am still on the deed. If we get divorced, do I still get half of the home. I am scared that I did not investigate it fully.
Thank you so much for all the help.

Like | Dislike | Share | Posted: Sat, 09/15/2012 - 13:49 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Sparks,

Your query has been replied to in the given page:
http://www.mortgagefit.com/Appraising-properties/Ex-on-the-deed-not-the-...

Please take a look at it. I hope it will help you.

Like | Dislike | Share | Posted: Sun, 11/25/2012 - 22:16 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I bought a house in 2000, mortgaged it under my name, my partner at the time was not named under the mortgage as she had no credit, in 2004 we did a quit claims deed , handing over half ownership of the property to her as we were in a relationship stating love and affection being the consideration on the deed . The relationship ended in 2004 because of her infidelity.
A contract was formed, she agreed to take her half if the house was every sold minus a car loan & the interest it accrued over the years that I have had to pay off due to it been rolled into the mortgage to date.
I know I’m responsible for the mortgage due to it being in my name and her name was never added on. but right now I am trying to buy her out as I got married & my wife & I would like to start a family & have a secure home , she is not willing to let go, I have paid everything since day one, my question is, is she correct in saying due to the way the deed is written she has no responsibility to pay her half of the insurance, tax or necessary improvement on the property due to the way the [url=http://www.mortgagefit.com/quitclaim-deed.html]quit claim deed[/url] refers to love & affection in consideration of no money?, she is claiming her lawyer has told her this, are they correct????, there was no mention of her having to pay her half of the Tax insurance & necessary improvements in the contract formed in 2004 but I had hoped she would have honored, by the law of WA can she be held liable for her half of the bill’s , right now I am very disappointed and need some advise.please

Like | Dislike | Share | Posted: Fri, 11/23/2012 - 15:22 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my wife and her exboyfriend bought a mobile home together then broke up. after 9 months he came back wanting mobile home or the money he paid for it. the title to mobile home is in and always from day one been in my wifes name. he never was on the lease, never resided in mobile home, my wife paid all taxes on mobile home as well as the utilities and lot rent. can he take back mobile home from her? and does she owe him any money?

Like | Dislike | Share | Posted: Sun, 06/02/2013 - 07:56 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My mother deeded property to me over a year ago, I opened the doors to my mother and step father for 2 years ago. Just recently step father was trying to force me to sign property to him, I refused. Now he is trying to take me to court to empty all movable items stating it is his. Half the things I bought the other mom bought for me. Since he is my moms husband she said she apologize for his action but will stand by him 200%. Can they take items that doesn't belong to them? I understand it's all about greed, but I really need advise!

Like | Dislike | Share | Posted: Tue, 09/18/2012 - 07:04 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I was contacted by the bank that holds the mortgage on my rental property in arkansas. I live in florida. they wanted to know if I was interested in refinancing and get a better interest rate. At the time of the initial discussion, I was advised that I would be getting my escrow $ back because of the refi. I was approved,and when it came time to sign the papers, I asked if I would be receiving a check for the escrow $. They said, no, I would be getting a check within 30 days after signing. I didn't receive the check, I called the bank - They had taken the $ and applied it against the principal of the loan. Do I have any recourse? Can I submit a small claims action against them. Or do I not have a leg to stand on. Just makes me angry that I was lied to. If I can take legal action - in what state? FL or AR?

Like | Dislike | Share | Posted: Thu, 03/21/2013 - 08:39 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest,

You may take legal actions against the lender. It will be your discretion after you have a word with the attorney in this regard.

Thanks

Like | Dislike | Share | Posted: Thu, 03/21/2013 - 22:16 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband died and left me with a big mortgage; my name was not on it but on the deed. I tried for 3 years to get a modification and paid the modification agreement amount, that I received in the bank-sent documents, on time and in full but they botched it up including losing the "assumption" papers that I executed. All along, they accepted my payments marked "modified mortgage" and kept telling me that I was modified and to keep paying the contract amount but the bank never filed the papers and never told me! They have me in foreclosure now, unless I come up with a new, much larger sum than in the modification agreement that they sent me and I paid on for 2+ years and that they abruptly told me 2 months ago "was never finalized" nor put in my name. I have a title (to the mobile/ modular home) in my name. They want me to sign this title over to them now or face a lawsuit!They also ruined my credit by sending all the amount of the difference between the modification amount that I was paying "in good faith" and my original mortgage payment as well as tons of fees (they promised would not accrue) to the credit bureaus, a total of $37,000!!
What can I do? I am a disabled, senior widow who can not physically go through a move due to the disabilities and pain and I haveno money to pay a mover nor a place to which to move. Can I go bankrupt and still live in the house, should I sue them and forstall a forclosure to force them to honor their former terms (or at least do better) and I have also notified my congressman of this last minute bank "got ya" and coercion (pay the new, big amount and 4% interest or "we kick you out" !
I believe that this whole thing was dragged out and" messed up" to insure not having to honor the 2% and low re-payment of the HAMP; they waited until the HAMP expired to hit me with these new terms so I had no other recourse.
What are my options to stay in and save my home?
Thank you. :cry:

Like | Dislike | Share | Posted: Wed, 04/03/2013 - 11:26 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi rar,

If the boyfriend's name is not mentioned on the property title. then he cannot claim any share in that property.

Like | Dislike | Share | Posted: Sun, 06/02/2013 - 22:55 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome Guest,

If the items and the property don't belong to them, then they can't take it away or ask you to leave the property. If required, you can take legal actions against them.

Like | Dislike | Share | Posted: Wed, 09/19/2012 - 00:04 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi cherie!

Welcome to the forums!

It will be better if you could clarify this from a tax adviser.

Sussane

Like | Dislike | Share | Posted: Thu, 03/14/2013 - 00:34 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Can either person on the deed file for income taxes?

Like | Dislike | Share | Posted: Wed, 03/13/2013 - 14:59 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

in a word, "no." however, in the event your husband neglected to make payments on any notes that constitute liens on the home, you'd be forced to make a decision at that time (hopefully jointly with your husband).

Like | Dislike | Share | Posted: Tue, 12/02/2008 - 10:41 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi dlf!

Welcome to forums!

Your name is only on the property deed and not on the mortgage. In that case, you will not be liable for paying the mortgage dues. You have full ownership to the property and have similar rights which your husband has but you will never be responsible for the mortgage payments. In case if the property forecloses, your credit will not be affected in any way.

Feel free to ask if you have further queries.

Sussane

Like | Dislike | Share | Posted: Tue, 12/02/2008 - 19:17 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

actually, dlf, if there were ever a legal action taken against the property (such as foreclosure, etc.), your name is going to be on it as an owner of the property. a foreclosure is a public record; public records are noted on credit reports. therefore, should one ever take place, it would end up on your credit report.

you'll never have to worry as long as payments continue to get paid on the mortgage.

Like | Dislike | Share | Posted: Wed, 12/03/2008 - 09:11 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my boyfriend and i bought a home together, his name is on the loan and both of our names are on the deed, we have since split, leaving the property in limbo, i want to keep the home, move back in, currently no one resides in the house, and take over payments, can he have me legally removed?

Like | Dislike | Share | Posted: Tue, 01/13/2009 - 05:57 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

nicole, you are an owner of this property, according to what you wrote. therefore, you have full rights of possession - to live there. i would think that you'd want to at least maintain a business-like relationship with the ex-boyfriend, since he is also an owner.

hopefully, of course, you can afford to make payments on your mortgage on this home without difficulty; and at some point, you may be able to have him deed back to you his interest in the property (perhaps for a fee).

there are a few things we don't know about your purchase and the mortgage you may have, so i can't give you an all-inclusive answer. nevertheless, you have every right to occupy the property, but you need to keep in touch with him no matter what, until such time as you sell the home or change the ownership to yourself only.

Like | Dislike | Share | Posted: Tue, 01/13/2009 - 08:28 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my son will not make any more payments on his home He owes more than it is worth He want to let the bank have the home. also he is moving to virginia the house is in michigan ? I want to know what is my responsibly of the house payments

Like | Dislike | Share | Posted: Fri, 01/16/2009 - 16:00 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi john,

If you are not on the mortgage note, then you will not be obliged to pay the debts neither will your credit be affected if the property goes into foreclosure. However, if your name is on the mortgage deed, then the lender will have all the right to ask you pay the mortgage debts. If you do not pay, then the lender may foreclose the property and your credit will be badly ruined.

Thanks

Like | Dislike | Share | Posted: Fri, 01/16/2009 - 22:10 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

will i get the tax credit write off if my ame is only on the deed.

Like | Dislike | Share | Posted: Sat, 01/24/2009 - 14:48 | Post subject:

jerry's picture
jerry | Joined: October 17, 2005 03:24 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi saxbie,

As your name is only on the deed and not on the mortgage documents, I don't think you will get any kind of tax credit write off.

Thanks,

Jerry

Like | Dislike | Share | Posted: Mon, 01/26/2009 - 00:41 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

hi.. I need help my exboyfriend and I bought a house 2gether. Im on the deed to the house but im not on the morge. Im getting letters from attorneys saying im Pro Se myself. I wrote a letter 2 both attorney and courts telling them i havent lived in the house 4 a couple of years and want nothing to do with the proprty. Why am i being asked 2 appear in court now. What are my rights. I live in another state no job raising my kids on the goverment...( trust me im not happy i want a job but cant find 1). So help me plz.. Ive tryed calling governt aid legal services and was told by them since i do not live in ohio they couldnt help me i need 2 pay 4 an attorney.. I left my old house after my exboyfriend family threaten 2 hurt my daughter and havent looked back since.

Like | Dislike | Share | Posted: Mon, 03/23/2009 - 14:22 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest,

As your name is not on the mortgage, you are not liable to pay it off. The lenders cannot sue you for the mortgage payments. If the lender forecloses the property, then your credit will not be affected. I can understand, it would be difficult for you to consult an attorney but it would be best if you could consult one. He could represent you and sort out the issue.

Like | Dislike | Share | Posted: Mon, 03/23/2009 - 23:59 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I bought a house, fell on hard times and my father paid off the mortgage. The deed is still in my name, I don't have to declare that I "sold" the home on my taxes correct?

Like | Dislike | Share | Posted: Fri, 03/27/2009 - 08:11 | Post subject:

savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi

Did you sell the house the title to which was in your name? Well, if you have, then i believe you have to report that on your taxes. Any profit made from the sale would be taxable.

Like | Dislike | Share | Posted: Sat, 03/28/2009 - 06:10 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My Little brother name is on the deed of our house, but not on the Loan Mortage. My name is on the loan, since he has bad credit. I gave him a portion of the monthly payment, and he is the one who write the check to pay the monthly bill. Question is, can my brother legaly claim HALF the annual tax deduction? We do it this way to help him graduatly build his credit back up. Thank you very much for your answer in advance.
Tony S.

Like | Dislike | Share | Posted: Wed, 05/13/2009 - 06:38 | Post subject:

savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi

As you're the one on the mortgage, you can claim the deductions on your annual tax return. But since your brother is not on the mortgage he isn't responsible for the repayment of the loan. So, though he's been making the mortgage payments he'll not be able to claim the tax deductions.

Like | Dislike | Share | Posted: Thu, 05/14/2009 - 05:12 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Anybody?

Like | Dislike | Share | Posted: Thu, 05/21/2009 - 07:22 | Post subject:

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