On Agreement for Deed - Posted by Duane J

Posted by Jack Compton on November 14, 2000 at 24:22:48:

Duane, I did one of those deals (as the buyer back in 1979) and received no tax benefits whatsoever. I think this is probably still the case, since this type of sale does not permit the property to actually pass to the buyer until the agreed upon amount has been paid for the down. It sounds a lot like an LOP (lease option to purchase) and equitable title does not pass until all elements of the contract are met. Even so, some state courts have ruled in favor of the buyers on this type of contract. But until equity ownership is established (as was my case) I was denied tax benefits. However, the laws change faster than presidential nominees :slight_smile: so you might want to check with your local realtors or an REI club in your area. —Jack

On Agreement for Deed - Posted by Duane J

Posted by Duane J on November 13, 2000 at 22:12:51:

When we sell on Agreement for Deed, does the buyer now get all of the tax benefits of the property since they are in a contract to buy the house?


Duane J