Binding contract

[Questionguy101]

Another First Time Home Buyer Credit question but I think this is an interesting one.

Husband and wife have bought a home together and both of their names are on the deed and the loan.

But only the husband's name is on the sales contract and the agreements with the seller, and all signed by the husband only (They did borrow the mortgage together and have both names on the loan documents). But somehow when the deal is done, both the husband and the wife's name are on the title of the house.

Is there any problem for them to file for the First Time Home Buyer Credit?

[Questionguy101]

Let me clarify my question.

I think they have to show the IRS a binding contract that was signed before 4/30/2010.

But the binding contract only has the name of the husband on it and signed by the husband only.

But then they borrowed the mortgage loan together and have both names on the house eventually.

In this situation, is the binding contract with the name of the husband on it only and also signed by the husband only enough to fulfill the requirement?

[appelman]

Binding contract

A binding contract is a binding contract. I don't see why it should matter.

[Questionguy101]

A binding contract is a binding contract. I don't see why it should matter.

I asked the real estate agent and he explained that since the husband was the one who made all the decisions, they only put his name on the contract for easy decision making and signing of the real estate papers.

After serious consideration, I think what you said does make sense. The requirement is a binding contract and what the husband signed is a binding contract afterall.