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WebApr 16, 2014 · Likewise, if Fred and Sue (husband and wife) own the old property they have to buy the new property also as Fred and Sue – meaning that Fred could not buy the new property using section1031 in his name only. They are considered the same taxpayer for IRS purposes because they file a joint return (even if they file as married-filing … WebDec 15, 2024 · If you and your sibling inherit a house, you probably own it 50-50 unless the decedent stated otherwise in his will – and this doesn’t usually happen. If one of you wants to keep the property... WebMost things you acquire while you are married, regardless of whose name is associated with the purchase, are considered marital property. If you buy a house and only put your … optical lagrange invariant