Posted on: 27th Mar, 2010 05:36 am
My wife and her 4 siblings forth a portion of cash, with their mother as well, to purchase a home for her (the mother). All of the paperwork for the purchase was done in my wife's name. It was then quit claim deeded to the mother. Assuming the other siblings make no claim, does my wife get to claim the fees, etc. for her taxes?
Only the actual owner of a property may claim related tax benefits. Once you quitclaim a property interest, you are no longer the owner.