Real Estate question

Asked about 4 years ago - Bakersfield, CA

Flag

My husband and I dont have enough credit to back up a home loan. For that reason my mother in law has offered to purchase the house of our dreams under her name. Can we request the tax credit for new home buyers under our 2009 taxes even if our house will be under my mother in law name?

Attorney answers (2)

  1. Licensed in CA

    Los Angeles Real Estate Attorney
    Contributor Level 18

    Answered April 28, 2009 16:31. Disclaimer: The materials provided below are informational and should not be relied upon as legal advice.

    One solution may be to buy the house under your and your husband's name and your mother-in-law will be a co-signer on the mortgage loan with you. You need to see if banks will be willing to extend such a loan to you.

  2. Downers Grove Real Estate Attorney
    Contributor Level 7

    Answered April 23, 2009 20:54. Probably not. More importantly, have you ever purchased a home? If so, you are definitely not eligible, although if a spouse has not purchase a home (no name on mortgage or deed), he/she may be able to qualify.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

25,234 answers this week

2,606 professionals answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

Ask a Lawyer

25,234 answers this week

2,606 professionals answering

Spinner

Find Real Estate Lawyers

Legal Dictionary

Don't speak legalese? We define thousands of terms in plain English.

Browse our legal dictionary