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I believe his name would have to be the loan/deed. However, it does say “certain other designated person” purchases, but has particular stipulations in that regard. https://veterans.ny.gov/content/prop...tions-veterans
The link doesn't say that he has to be the sole owner, just on the deed/loan. I'm assuming that spouses are ok, just trying to figure out if anyone else can be on it.
The link doesn't say that he has to be the sole owner, just on the deed/loan. I'm assuming that spouses are ok, just trying to figure out if anyone else can be on it.
[quote=hellob;53404657]If I bought a house with my dad, could he get the vet and senior exemption if my name is also on the loan/deed?[/QUOTE
In order to qualify for the senior exemption, EACH owner has to be 65, unless the other owner is a spouse, in which case only one spouse has to be 65. Siblings who own a home together can receive the senior exemption if ONE of them is 65. In all instances, EACH owners' income is considered to determine income eligibility.
For the veteran exemption, your father can claim it, even if you are not a military veteran. Should he predecease you, however, that tax exemption will have to be removed. The veteran tax exemption would remain ONLY for a surviving spouse.
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