Legal Question in Real Estate Law in New Jersey
More than one owner on Mortgage & Deed
My parents refinanced their house and added me and my husband on the mortgage and Deed. Me and my husband live in the house and my parents do not. Can we claim the house on our taxes even though my parents names are on the mortgage and deed?
Asked on 2/03/09, 10:06 am
1 Answer from Attorneys
Richard Vallario
Richard W. Vallario Law Office
Re: More than one owner on Mortgage & Deed
You state that your names are on the Deed and mortgage. If so, you can claim the deductions as long as you are paying them, or split them accordingly. Just make sure both you and the parents are not both claiming the full deductions.
Answered on 2/03/09, 11:37 am
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