• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

lease to own tax deduction

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

E

eric mofo

Guest
My company is preparing to launch a nationwide program, where we purchase single family homes and sell them under a lease to own contract. Can the tennents who are under a lease to own contract, and their names have been added to a quit claim deed and recorded in the county where the home is being leased, deduct any interest from the monthly periodic payment. Keeping in mind, the term interest is not in the contract. Our clients are paying the same agreed upon monthly periodic payment for a 10 or 15 year agreement. I understand that this falls under a term called ground rent and is recognized in Maryland. I am trying to locate a list of states that recognize this as a tax deduction.
 



Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top