Hi all
Don't know if in right area, hope so.
This is in state of Ct.
There are 2 people on the title. Only one person on mortgage.
Is the person not on mortgage entitled to the first time buyers discount?
Thanks in advance for any answers.
Chuck
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Hi all
Don't know if in right area, hope so.
This is in state of Ct.
There are 2 people on the title. Only one person on mortgage.
Is the person not on mortgage entitled to the first time buyers discount?
Thanks in advance for any answers.
Chuck
Are the two people married?
If not, did both persons participate in the purchase?
If so, and this can be proven via the closing documentation, then they can both get the First-Time Home Buyer's Credit.
Thanks ATE
I think I have to expand on question.
Mother buys 3rd house. Puts son on deed.
After 4 yrs son wants to buy own house.
Is he entitled to First-Time Home Buyer's Credit
Chuck
I believe putting the child on the deed make him a legal owner of the mother's house.
I understand why the mother did it (for estate purposes), but by doing so, In my opinion, the son is now no longer eligible for the First Time Home Buyer's Credit.
Thanks ATE
That was my opinion also.
Chuck
Will agree,
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