Posted by IB (NJ) on November 02, 2009 at 12:14:46:
In Reply to: First Time Homebuyer Tax Credit Scenario posted by jimi on November 02, 2009 at 08:51:05:
My guess is that her "ownership" will be defined by the marital rights of the state in which this is all taking place. Here in the Armpit state (NJ), if she resided in the home as her primary residence for 2 years, she would be considered a 50% owner.
Maybe someone with more knowledge can chime in.
Ib