Posted on: 17th Aug, 2010 10:29 am
i am getting a divorce? my husband and i have agreed that the house will be mine and this will be evident in the divorce contract. the house is in his name but we have agreed it will be mine. does it matter when the quit deed is completed for fee or tax purposes? what is the difference between it happening before or after the divorce?
also, my husband bought the house and got the 8000 tax credit. what happens to this credit if the house is quit deeded to my name? again, does it matter if it happens before or after divorce?
thanks.
also, my husband bought the house and got the 8000 tax credit. what happens to this credit if the house is quit deeded to my name? again, does it matter if it happens before or after divorce?
thanks.
Hi ltsapatoris,
It does not make much difference whether your husband transfers the property to you before or after the divorce. You would become the owner of the property. You will have to refinance the loan in your name after the property transfer. As far as the tax credit is concerned, it would be better if you could take the opinion of a tax adviser in this regard.
Thanks
It does not make much difference whether your husband transfers the property to you before or after the divorce. You would become the owner of the property. You will have to refinance the loan in your name after the property transfer. As far as the tax credit is concerned, it would be better if you could take the opinion of a tax adviser in this regard.
Thanks