Can a wife and husband each own separate properties and each claim as primary residence?

Question

I bought a house when I was single and we are living in it. We would like to buy another house and if mine does not sell, we will rent it. To avoid losing the homestead credit on the first house, can my husband, on his own, buy another house separate from my name and we both claim as primary residences?

Answer 1

In some jurisdictions, (certain places in Minnesota - perhaps other places as well) you can claim a homestead credit for a property you are not occupying.  For example, you may be able to obtain a homestead for any property you own in which a qualifying relative lives as his or her primary place of residence. However, to be a qualifying relative of the owner, you usually have to be the owner’s son, son-in-law, daughter, daughter-in-law, stepchild, parent, parent-in-law, stepparent, grandchild, grandparent,grandparent-in-law, brother, brother-in-law, sister, sister-in-law, aunt, uncle, niece, or nephew.

From your post, your situation does not fall into the above category.  

Answer 2

not legally as your primary is where you vote. But you can get a rental in place and buy another home as a primary if he has owned at least 1 year. That is done all the time. Just know this that only 75% of the rents will count against his mortgage payments with escrows included.

I am a mortgage banker in TN & Ky

Answer 3

No.  Married people cannot do that.

It is called tax fraud as married people can only have ONE primary residence.

If a house is rented, then it becomes an investment property.

The IRS only allows you to claim ONE tax deduction per return on mortgage interest, and as soon as you put yourself as married, and list your spouse, they will automatically pull his return and if they see the same deduction, you'll get a huge bill from the IRS.