repeat home buyers

victory_tea2085February 25, 2010

Briefly, I had a house built 20 years ago, married 10 years ago. My wife has never owned property. We sold my house and bought another in both our names- do we qualify for repeat homeowner tax credit? Thanks


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Good question, I found the IRS Q&A which addresses this, sounds like you do not qualify.

Here is a link that might be useful: IRS FAQ

    Bookmark   February 26, 2010 at 12:33PM
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I think it depends on your state law too. I mean is it a community property state? If so your wife may have become an owner when she married you even though she isn't on any paperwork.

When we sold the house I owned before getting married and my husband never lived there he had to sign papers to that or otherwise he was under the law considered an owner just by being married to me and would have needed to sign the closing paperwork.

    Bookmark   February 26, 2010 at 12:48PM
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In Michigan a man may buy real property and own it alone but may not sell it without his wife's signature. Dower rights. The wife may own and sell real property without the husband's signature.

    Bookmark   February 26, 2010 at 2:39PM
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