I spoke with a mortgage broker and it is best to purchase as joint tenants with our individual names listed on the title for better mortgage rates.

Please be aware that if you use it now - you likely can't use it again.Another question to ask is if you and your wife have made an election to file as a "qualified joint venture" instead of having to file a partnership return.This election could have allowed you to avoid having to file partnership returns which would also have saved you the fees from having to pay for filing the partnership returns; which I assume weren't cheap.

If the lease includes a "Joint and several liability" clause in it, the landlord can go after him just for the Ex-GF staying a month without paying rent.  

Hey all,How common is it for asbestos to be in plaster walls or joint compound of an old residential home? 

Billy Bob just thinks that's how it is -- his knee hurting meant brain cancer, ergo everyone with joint pain must also have brain cancer.

This would allow you to use the depreciation to offset the recapture tax and capital gains.Excess Business LossesAn excess business loss is $250,000 (or $500,000 if filing a joint return) plus the amount by which your total deductions exceed your total gross income and gains.

Make sure the lease says that all signors are "jointly and severally liable" for the terms of the lease.

I do this and I try to structure it in a way that is simple and streamlined in accomplishing the goals of my partners and that is usually accomplished by running the numbers before the purchase with excellent, setting everyone's expectations on the returns they should expect, and then having a promissory note, lien, or Joint Venture agreement in place and running full speed ahead!  

This distribution is something I can look up in state code, but wondering if you know off the cuff.My angle was to use an Affidavit of Lack of Probate to avoid probate as decedent did not have a trust, joint tenancy with right of survivorship, community property agreement, ect.Once the affidavit is recorded with the county auditor, the net effect is to vest title to the "rightful" or legal heirs since there is no will.

Joint ventures/limited partnership/ whatever you want to call this are required to file partnership returns.