If My exhusbands name is removed from the deed n the mortgate will we have to give back the first time homeowner credit ? We filed our tax jointly n both our names are the deed n loan.

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If My exhusbands name is removed from the deed n the mortgate will we have to give back the first time homeowner credit ? We filed our tax jointly n both our names are the deed n loan.

jameshogg

Posted on: 14th Dec, 2010 06:43 pm

Our divorce is not final yet. He is willing to sign the house over to me if I give him 5 thousand for the house.

Total Reply : 1

Hi flacarocks,

You're not obligated to repay the tax credit unless the home ceases to be your principal residence within 36 months from the date of purchase. If that situation occurs, you will be liable to pay back the tax credit in full.

Thanks

jameshogg

Posted on: 14th Dec, 2010 08:06 pm

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