Advice Needed On Legal Transfer Of Real Estate

[tnbosco]

Buying a owner financed home & land from a individual. Need guidance on how to legally do the transfer and register the mortgage. I am a farang with long time thai GF, soon to be wife. Main concern is the ability to take the mortgage interest off my U S A income tax. Actual ownership is of little interest as will be ultimately given to soon to be wife. Any experience or suggestions would be greatly appreciated.

[kamalabob2]

I strongly suggest you check with the American CPA who prepares your US State and Federal Income taxes for real advise. You can also phone the IRS toll free number, but your trusted CPA can give you real answers.

Be sure to file your ANNUAL TD F 90-22.1 form and mail it to Detroit,Michigan. It could set you back $10,000 for NOT filing this free and EASY form.

It is EASY to obtain a ITIN number for your Thai wife, EVEN IF SHE HAS NEVER SET FOOT IN AMERICA, IF she has a Thai Passport and you obtain a "official" translation of that document that follows the instructions on the IRS web site. Pay close attention to the instructions on the IRS web site. I did NOT the first time, the 2nd attempt went fine.