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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1 Best answer

Level 15

Jun 6, 2019 7:51:26 AM

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.

Level 15

Jun 6, 2019 7:51:26 AM

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.

New Member

Jun 6, 2019 7:51:27 AM

Yes. I am living in USA

Level 15

Jun 6, 2019 7:51:29 AM

Which state?

New Member

Jun 6, 2019 7:51:31 AM

California

Level 15

Jun 6, 2019 7:51:32 AM

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://www.nolo.com/legal-encyclopedia/marriage-property-ownership-who-owns-what-29841.html</a>

New Member

Jun 6, 2019 7:51:35 AM

Thanks

Why sign in to the Community?

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?