Home Purchase Prior to Filing K1

[debbiedoo 2,339]

Last summer, Paul and I bought a house. He paid for it (cash sale), but it is in my name (im the petitioner). The attorney was SUPPOSED to put it in both names, but was an incompetent fool, but thats neither here nor there. 

 

For the K1 and AOS process, is it better for it to remain in only my name or to add him to it (as it should have been to begin with)? I *shouldn't* need it as an asset for income for AOS but I always like to think worse case scenarios.

 

We're just trying to figure out when would be the best time to get his name on it.

[Roel 7,192]

No one really expect proofs of living together or shared bills or large purchases for k1 visa. Spouse visa, maybe. But this is only fiance visa.

 

Both your names on the house will be a nice proof of relationship for both AOS and ROC though. 

[Russ&Caro 1,549]

Google Quit Claim Deed. Many states allow this quick n easy way to add a co-owner to a house.

[debbiedoo 2,339]

33 minutes ago, Russ&Caro said:

Google Quit Claim Deed. Many states allow this quick n easy way to add a co-owner to a house.

 

Oh yeah, I Know its not a difficult thing to do, just wondering when is the best time - if theres an advantage or disadvantage to when, especially if I needed to use it as an asset for AOS

[Jojo92122 1,924]

Have you considered US and Canadian tax laws for a Canadian owning real estate in the US?   

Edited July 6, 2018 by Jojo92122

[debbiedoo 2,339]

16 minutes ago, Jojo92122 said:

Have you considered US and Canadian tax laws for a Canadian owning real estate in the US?   

Gonna sound naive here, but I don't think either of us have, esp since its only in my name at the moment.

Can you give a mini lesson?

 

[Jojo92122 1,924]

3 minutes ago, debbiedoo said:

Gonna sound naive here, but I don't think either of us have, esp since its only in my name at the moment.

Can you give a mini lesson?

 

Best to contact a CPA versed in cross border transactions.  

[FernandLevi 36]

Yea you can just quit claim it from your name to your name & his/her name and pay a minimal fee. Can't be financed though or else the mortgage company will demand payment in full.

[debbiedoo 2,339]

45 minutes ago, FernandLevi said:

Yea you can just quit claim it from your name to your name & his/her name and pay a minimal fee. Can't be financed though or else the mortgage company will demand payment in full.

The house was paid for in full at closing, so no lender to worry about, when we do it

Edited July 6, 2018 by debbiedoo

[Diane and Chris 651]

12 hours ago, debbiedoo said:

 

Oh yeah, I Know its not a difficult thing to do, just wondering when is the best time - if theres an advantage or disadvantage to when, especially if I needed to use it as an asset for AOS

Hi. We purchased a home prior to K-1 Visa being filed.  Once my now husband arrived and we were married, we added his name to the deed. No problems. Now we have filed for AOS and that is a plus for us as part of our evidence.