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You bought your house with a seller-financed loan from your father in law Do you need to send him a tax form stating how much you paid him for the year?
Wiki User
∙ 12y ago
laws vary from state to state. The buyer DEFINITELY should record the agreement at the courthouse, The seller should charge interest, The seller should provide A itemized list of total payments, Payment amount to principle, Payment received to them as interest, and any misc. charges like late fees. TAKE A NICKLE WORTH OF FREE ADVISE,,,,,,,,DO THIS BY THE BOOK,,,YOU DO NOT WANT TO TRUST SOMEONE AND WISH YOU HADEN'T.
Presumably, your both individuals, so the reporting requirements are minimal.
For you to claim the interest deduction, you will need to show (on your return, where indicated), his SS number and the amount of interest you paid him.
Wiki User
∙ 12y ago
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Is a joint mortgage needed for joint ownership?
Not necisarily. If you are married and the house was bought after the marriage then no. If you are married and the house was bought before the marriage and the person that did not originaly buy the house made one payment on it or you had a joint account that the payments came out of, then they are half owner. If you are just living together with no marriage, then the house it the person's that bought it, but you have to be carful of common law marriage.
Do you have to add your spouse to mortgage for refinancing if the house was bought before the marriage?
No
What is a sentence using the word broker?
The broker saved us a lot of money when we bought our house.
How much would you have to finance if you bought a 52500 house with a 10 percent down payment?
47,250 A+
You have bought a house cash where are your deeds stored?
Deeds are recorded at your local County Clerk or County Registrar.
Which sentence is correct- John and you bought a house or You and John bought a house?
John and you bought a house
If Nicki Minaj's mom is alive the why she say she was in a burned down house in her song autobiography?
what she was stating was her father burned down the house when she was younger and her mom was in it...Nicki Minaj's father was a drug abuser and i believe he was abusive physically but her mother is not dead she's alive basicly her mother survived and got out of the house
Is it my father's house or my fathers house?
It is correct to say "my father's house" with an apostrophe to show possession.
What do you call a house of father-in-law?
The house of your father-in-law is your father-in-law'shouse.
When was Father's House created?
Father's House was created in 1986.
What do you call wifes father house?
your father-in-law's house
If a house is bought by two people father and daughter and stipulates that the daughter has the right to survivorship can the father sell the house without her knowledge?
Not if the title has been worded and filed in the county land recorder's office where the property is located. The wording would be "John_____ and Mary____ as Joint Tenants With Rights Of Survivorship".
Do you ever get any options for more house upgrades after you have bought everything?
If you have 3 house upgrades and have bought everything you can't upgrade your house again
What was the name or the house that Shakespeare bought in Startford?
Shakespeare had a house that he had bought and was called New Place. It was one of the largest houses in the town.
What are the release dates for I Bought a Famous House - 2012?
I Bought a Famous House - 2012 was released on: USA: 14 December 2012
Can you sell a house you bought in YoVille?
No once u bought it, then its yours to keep.
Can you buy a house and then foreclose on the first house and will it affect the recently bought house?
yes you can
