Posted on: 30th Aug, 2011 12:12 pm
my father is on disability and he gets no use out of the intrest off his home. he was wondering if he does a quit claim deed to me and put my name on the house will i be able to claim the house on my taxes although he is paying on it? also will this help my credit score if it shows a house payment being made?
really confused?
really confused?
Hi Sammie,
Unless the mortgage is in your name, I don't think you will be able to claim the house on your taxes. Nevertheless, you should speak to a tax adviser in this regard and take his opinion in this matter. If the house payment is made on time and if the mortgage is in your name, then it will definitely have a positive affect on your credit score.
Thanks
Unless the mortgage is in your name, I don't think you will be able to claim the house on your taxes. Nevertheless, you should speak to a tax adviser in this regard and take his opinion in this matter. If the house payment is made on time and if the mortgage is in your name, then it will definitely have a positive affect on your credit score.
Thanks