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January 27, 2020
Question

Tax in another's name can I claim property taxes I paid them?

  • January 27, 2020
  • 1 reply
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1 reply

ReginaM
January 27, 2020

You must either be liable for the actual mortgage payment itself or have an ownership interest in the home in order to claim the property taxes you paid

 

 

Ownership interest can be either a legal interest in the property (such as having your name on the deed to the home) or an equitable interest on the property. Equitable interests arise when you are not the legal owner of the property; however, you put yourself in a position to take on the risks of ownership. This situation will be determined based on the facts and circumstances surrounding your situation.

 

For example, your parents help you out by taking a loan out in their name and putting the deed to the home in their name, but allow you to live in the home from the time of purchase. You pay all of the home’s bills. In this example, you would  have an equitable interest in the property as you are taking on the risks of ownership by paying all the associated bills to the home, while the legal equity is being built up in your parent’s name. 

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