Posted on: 29th Jul, 2010 02:20 pm
I have a home that was in my fathers and my name- joint tenancy with right of survivorship on the deed. My father passed away a few months ago and I have not taken his name off the deed as there is a small outstanding mortgage on the home in his name only and my credit rating does not make me eligible for a loan right now. I have been paying the loan and fixing the house. My question is since my dad is deceased and I am making the loan payments can I claim the interested being paid on the loan?
Hi padia,
If your name is not mentioned on the mortgage docs, I don't think you would be able to claim deductions for mortgage interest that you pay. However, you should contact a tax adviser and take his opinion in this matter. He'll be able to help you in a better way in this matter.
Thanks
If your name is not mentioned on the mortgage docs, I don't think you would be able to claim deductions for mortgage interest that you pay. However, you should contact a tax adviser and take his opinion in this matter. He'll be able to help you in a better way in this matter.
Thanks