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Estate heirs to get tax write-off

Daughters need property title in their names to qualify
Published on Oct 18, 2011

DEAR BENNY: My ex-husband died two years ago without a will. He left our two daughters as the beneficiaries to his life insurance, but he owned a townhouse also, and my daughters have since renovated it because (of) years of neglect. Currently, my eldest daughter and her husband are living in the property and paying the mortgage payments (her younger sister is a senior in college and resides on campus). The property is beautiful now and the mortgage has been paid on time. They cannot refinance the property because they own a rental property and will not qualify to carry both mortgages. How can they get this property in their names so that they can get the tax write-off from the mortgage payments? The mortgage and deed is still in their father's name. They would like the deed to have both of the girls' names on it as owners, but the eldest daughter would like to take the tax write-off from the mortgage interest because she and her husband are paying the mortgage payments....

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