Hello, Additional question to this topic. Our situation is slightly unique.
I am taking the 2nd mortgage loan in my name. The loan will be against the current property, which is owned by me and my partner. But she will not be listed on the loan, but she is on the title and loan of the property, so she is required to sign / approve the loan.
Question: Can we transfer the loan money from the mortgage company directly to my partner, without any tax implications. I realize that I do not have any issues, but we are wondering if we transfer the loan money to her, because she is not listed on the loan, does that create a taxable deposit?
