He Makes The Payments

Expert, localized Los Angeles answers provided by Heather Roy

He Makes The Payments
	Dear Mrs. Lank: My father and his wife live in a condo they bought in Las Vegas with her name alone on the deed and the loan. I am making the payments entirely. I would like to claim this as a deduction on my income tax return. I've read similar situations in your column and you've advised people to add their names to the deed. How do I go about that and is there any repercussions with the lender?

	I doubt if I ever spoke of adding anyone's name to a deed, because that's not the way someone is made a co-owner. Nevertheless, you're right in thinking that to take property taxes and mortgage interest as a tax deduction you must not only pay the bills but be legally responsible for them. If your stepmother signs a new deed naming you as part or whole owner, that would make you responsible for property taxes. To deduct mortgage interest, you'd need to become personally liable for the debt. Discuss that directly with the lender.
	Edith Originally published on December 12, 2005

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