Who gets the tax benefits when doing “subject to” deals?

Question

I’m trying to do is “subject to” deal but only for a couple months and then I plan on taking over but only after I do some updating...meanwhile there is a tenant already in place￼ (just a FYI) do I get to write off those fixes etc?

Glidden Rivera · Answer

@Jeffrey Smith

The answer is, make sure you record the transaction and get the deed/ title.

You get the tax break because you own it

Allan Smith · Answer

As the owner, you will get the tax benefits. The title is in your name, but the sale is subject to the existing mortgage. Hence the name.

Who gets the tax benefits when doing “subject to” deals?

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