Legal Question in Real Estate Law in Massachusetts

If I own a home and later add another person's name to the deed, (who does not own a home) can that person who I added later in the future purchase a home as a first time home buyer?


Asked on 9/25/09, 8:27 am

1 Answer from Attorneys
Christopher Vaughn-Martel Charles River Law Partners, LLC

I assume you are referring to the 'first time home-buyer' tax credit. The tax credit is set to expire on December 1, although there is talk of extending it to March, 2010. If the individual is added to your deed, I believe that s/he will not be considered a 'qualified first time home-buyer' under the IRS regulation. For more information, feel free to read my blog article on the tax credit: http://glbtlaw.wordpress.com/2009/07/31/2009-homebuyer-tax-credit-whats-in-it-for-us/

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Answered on 9/30/09, 10:39 am


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