The Federal Tax Credits Blog

Question: If my husband sells me the house after divorce will I qualify for the $8000 first time home buyer tax credit?

My husband and I are separated and divorcing and I plan on purchasing the house from him in the divorce. The house, mortgage and title are in his name only. Will I qualify for the $8000 tax credit once I buy the house since the divorce should be final by the time it is purchased or only the $6500 credit? What would be different if the divorce is not final when I buy the house?

Answer: On the face of it, sounds like you are a first timer.

But tax and divorce law are complex, being a combination of state and fed, so talk to your lawyer to be sure to do it right. You may need to do certain things in the divorce negotiation to solidify your legal/tax position.

NAR Home Buyer and Seller Survey Shows Value of Long-Term Home Ownership

NEW ORLEANS, LA–(Marketwire – November 5, 2010) – Home buyers today have affirmed a long-term view of home ownership, the typical seller is experiencing positive returns and the vast majority of home owners see their property as a good investment, according to the latest consumer survey of home buyers and sellers. The study was released here today at the 2010 Realtors ® Conference & Expo.

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