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Patel
New Member

My husband has his property and loan in his name. I signed paper to refinanced. I have no rights. If I used 200K to buy my ownership into his house. is it deductible?

My husband has his property and loan in his own name. I had signed documents to refinanced that. I have no rights to house. Only under his name…..So if I used $200K to buy my ownership into his house, could that be a deduction?

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Accepted Solutions
SweetieJean
Level 15

My husband has his property and loan in his name. I signed paper to refinanced. I have no rights. If I used 200K to buy my ownership into his house. is it deductible?

Are you in the USA? No it is not deductible.  

But it sounds like you have issues other than taxes, so please see an attorney.

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6 Replies
SweetieJean
Level 15

My husband has his property and loan in his name. I signed paper to refinanced. I have no rights. If I used 200K to buy my ownership into his house. is it deductible?

Are you in the USA? No it is not deductible.  

But it sounds like you have issues other than taxes, so please see an attorney.

Patel
New Member

My husband has his property and loan in his name. I signed paper to refinanced. I have no rights. If I used 200K to buy my ownership into his house. is it deductible?

Yes. I am living in USA
SweetieJean
Level 15

My husband has his property and loan in his name. I signed paper to refinanced. I have no rights. If I used 200K to buy my ownership into his house. is it deductible?

Which state?
Patel
New Member

My husband has his property and loan in his name. I signed paper to refinanced. I have no rights. If I used 200K to buy my ownership into his house. is it deductible?

California
SweetieJean
Level 15

My husband has his property and loan in his name. I signed paper to refinanced. I have no rights. If I used 200K to buy my ownership into his house. is it deductible?

California is a Community Property State. California law defines community property as any asset acquired or income earned by a married person while living with a spouse. Separate property is defined as anything acquired by a spouse before the marriage, during the marriage by gift, devise, or bequest, and after the parties separate.
<a rel="nofollow" target="_blank" href="http://www.nolo.com/legal-encyclopedia/marriage-property-ownership-who-owns-what-29841.html">http://...>
Patel
New Member

My husband has his property and loan in his name. I signed paper to refinanced. I have no rights. If I used 200K to buy my ownership into his house. is it deductible?

Thanks
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