Home Buying in Yardley>Question Details

Scrubbleeyes, Home Buyer in Yardley, PA

Can my husband be the only person on the deed of our primary residence (married at purchase) in PA?

Asked by Scrubbleeyes, Yardley, PA Tue Apr 21, 2009

He's going to be the only one on the mortgage and to qualify for the $8K tax credit I can't be purchasing the house.

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Answers

7
Scubbleeyes:
This is yet another of those questions best answered by legal counsel and a CPA, neither of which branches of the professions is represented here. I 'd be willing to bet that only one person’s name need be on the deed. I would NOT be willing to bet what consequences that might have.

The first issue you raise is that of a tax credit and what it means to the pair of you, jointly or severally. The credit itself is new and I'm sure that several bright-eyed individuals have had reason to investigate what it means, beyond the well-known fact that its eligibility expires as of December 1st, not 31st and that it is different from the 2008 credit deal of $7,500.00. The issue of who can and who should take this credit and at what time it should be taken is obviously an individual thing, bounded by who benefits most and what kind of a marriage you have. You have also somewhat mysteriously dropped the phrase, "Primary Residence" in-between the lines. To me, this indicates a certain amount of knowledge of divorce law but not a necessary sufficient one to make your own decision. Again your own marital situation would have to be taken into account, now at the planning stage and again, should for any reason a divorce became necessary. What is the primary residence, if down the road, you have three houses? Who owns what? Where did the money come from? (Inheritance might skew an "equitable" division, etc, etc.)

My advice is to look elsewhere for more competent advice from experts in tax accounting and marital law. Realtors are rarely equipped to answer this kind of question.

Best wishes with your new home.
2 votes Thank Flag Link Fri Apr 24, 2009
That is commonlly done!!

please call me and I will answer all of your questions

thank you mark 215 295 9080
0 votes Thank Flag Link Tue Jul 7, 2009
yes...that can absolutely be done, as long as he qualifies for the mortgage by himself. Please contact me if I can be of any help to you in your quest.
0 votes Thank Flag Link Tue Jul 7, 2009
sure.... its done all the time, lets explore why this may benifet you?
please call mark 215 295 9080

central lending
0 votes Thank Flag Link Fri Jun 26, 2009
Why are you not going to be on the deed?As a couple combined do you earn more than 150k. I would consult a Real Estate attorney.I know an excellent one.
Jen Buschel Realtor
Advantage Real Estate Associates
Holland Pa
office:215-584-0769(ask for Jen)
0 votes Thank Flag Link Tue Apr 21, 2009
Yes. He can be the only one on the deed, but that does not mean as a spouse that you have no ownership rights. Consult a Real Estate Attorney. If you need a reference, let me know.

Tina Walsh
Class Harlan RE
215-348-8111 x 24
Tina@PAHomeShop.com
Web Reference: http://www.PAHomeShop.com
0 votes Thank Flag Link Tue Apr 21, 2009
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