The quick claim deed that was prepared by a title company in 2017 added my husband and I to the deed with his parents. All 4 of us are on the deed as of Oct. 2017. My husbands parents are on the only owners on the mortgage loan which they obtained many years before I met my husband. They initially took out the mortgage for him (prior to our relationship) because he was unable to qualify on his own. He was not on title or the mortgage at the time of purchase.
After we got married, his parents wanted to be free of the liability and asked us about putting the mortgage in our names. My husband and I needed to be on the deed for 6+ months prior to refinancing and removing his parents, so that was our plan. We had a title company prepare a quick claim deed that added my husband and I to the deed. However, when the 6 months had past his folks asked that we wait until the next year to refinance. They needed the "write off" that year (2018).
The start of 2019 we discussed moving forward with the process of refinancing. Unfortunately that didn't happen because my husband became very ill. After several weeks in the hospital, he survived. Then a month later, he had a stroke and other neurological issues. To make an extremely long story short, his medical illnesses changed him into a different person and he filed for divorce in July of 2019 (still in progress). The kids were forced out by my husband and his parents. We found a rental quickly but now I'm not sure how to handle this years taxes. I started preparing for the end of the year and came across the above post. So I guess my question is; should my husband and I be listing the property on our taxes because we are owners on the deed and paying the full mortgage, taxes, and insurance? Even though my husband and I are not on the actual mortgage loan with his parents? (I'm not sure if we will be filing jointly this year or not as we are going through the divorce. I'm still looking into this)
My husband is a very unhealthy 40 yr old. Last month the main artery to his heart ruptured. With so many medical issues, I'm not sure he knows what he's doing. I'm really trying to figure this out on my own to make sure I do the right thing.
~ Sorry for the long story ~
