I am in the process of setting up a revocable family trust. A question just popped into my mind this morning and can't wait to get an answer to this one. I can't see my attorney until Tuesday and this is driving me nuts. The question involves transferring our home into the trust. Attorney has already prepared a "quit claim deed". My problem and question: We closed on the purchase of our home on 12-30-09. We got a tax credit of $9000 for a first time home buyer. Part of the requirements for this credit is that we have to keep it for three years which means until 12-30-12. I'm wondering if the change from us owning the home to the trust owning the home would constitute a change in ownership and would violate this three year requirement? I would appreciate and thoughts and comments.
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