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Stringer

Asked about “Answers to the Commonly Asked Questions about the First Time Home Buyer Tax Credit”

My mother just closed on her her home and ...

My mother just closed on her her home and qualified for the tax credit. She would like to add my name to the deed just in case something should happen to her (she's 74). I don't qualify for the credit. Will she still qualify by adding me to the deed?

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real estate, insurance, investment, property, mortgage, credit, loan, credit score, foreclosure, credit report, money & finance

Posted 2009-10-26T14:37:40Z
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DubsVet

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No, she will not qualify if someone else is on the deed that does not qualify for the tax credit. She will have to make a will that designates you as the beneficiary if something happens to her.

Posted 2009-10-26T16:02:27Z

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FNC Utah

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I would not recommend it until after the end of the year. After she files and gets her refund you should be fine to have yourself added. Probably check with your tax accountant prior. Hope that helps. Your: Salt Lake City Property Management

Posted 2009-10-29T20:36:22Z

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FNC Utah was invited by Yedda to answer this question.

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