Posted on: 28th Oct, 2010 10:54 am
i was recently married. i own my home as the sole owner, and make all payments. the new wife also owns a home as a separate piece of property, and wants to refinance the property. she has been told that california views her as half owner of my debt, so she does not qualify for the refi. if i go on the re-fi loan with her, then quitclaim it back, do i have any liabilities with the tax man???
Hi rchris!
Welcome to forums!
You can help her in refinancing the mortgage. If you quitclaim the property back to her, then she will become the owner of the property, but you'll remain liable for the mortgage. I don't think you'll be liable for any taxes due to this.
Sussane
Welcome to forums!
You can help her in refinancing the mortgage. If you quitclaim the property back to her, then she will become the owner of the property, but you'll remain liable for the mortgage. I don't think you'll be liable for any taxes due to this.
Sussane