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Originally Posted by rosey What is the name of your state? Florida
I would like to provide the down payment for a property; my daughter would live there; she would pay the interest on the mortgage; I would pay the principle and the property taxes.
First is this with in the law?
Second, she would like the advantage of writing off the interest on her federal income taxes. Is this with in the law?
Whose names should be listed as owners in order to have these financial benefits?
I would benefit (or not) on the value of the property when sold after 2 or more years.
Please advise.
Rosey |
Yes you can give your daughter a gift of equity. You both can be on title and the mortgage if you choose, just her on title and mortgage or you and her on title but just she is on the mortgage . So the options are out there for you.
Patrick
[email]usa_home_loans_refinance@yahoo.com[/email]
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