Lantinez 0 Report post Posted September 30, 2006 Hi Everyone! When you Lease/Option a property, who gets the tax write off? The original owner who's name is on the loan with the lender, or the new Deed holder who is now responsible for making payments (which he is receiving from his L/O buyer)? Lannette Share this post Link to post Share on other sites
Brian - L.V. 0 Report post Posted September 30, 2006 Hi Lanette. The homeowner keeps the tax write off for the option period since title is not transferred. Share this post Link to post Share on other sites
Lantinez 0 Report post Posted October 1, 2006 Thank you! It makes sense. It's also a good point to bring up when dealing with the seller. Lannette Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted October 1, 2006 If the seller deeds the property sub2 and you are making the payments then you report the interest paid on the loan. If you are buying on lease option then Seller retains those rights. Share this post Link to post Share on other sites