Hello. My question is dealing with the $8000 first time buyers rebate program.\nMy wife and I are purchasing a home from a living trust that is in the name of my father-in-law, with my father-in-law as the executor of his trust.\nLong story, my mother-in-law passed away last fall. My father-in-law has sinced purchased and moved into a second residence. My wife and I are purchasing he old home for fair market value, based on comps, etc. Would we be eligible for the rebate if all other criteria are met? We qualify as first time home buyers (last home we owned we sold in 2004), out combined income is less than $150,000, and this would be our primary residence.\nThank you for your help on this.
1 Answer from Attorneys
How do you qualify as first-time home buyers if you already have owned a home? Otherwise I don't see a problem with your eligibility based on the other facts you mentioned.
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