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The most common form of co-ownership for married couples, tenancy-by-the-entirety, is available only to married spouses, so this choice is not an option for Jason and Jennifer.

The two remaining forms of co-ownership are as “tenants in common” or as “joint tenants,” also known as “joint tenants with right of survivorship.” (It is essential to remember to add the words “with right of survivorship” in the deed.)Property owned as tenants in common may be owned by two or more parties with equal or unequal percentages of ownership.

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If you own a mobile home and pay rent toward the lot on which the mobile home is located, you may qualify for both the homestead credit and the renters refund.

Contact your local assessment officials for an application and more information. Disabled Veterans Tax Credit The Disabled Veterans Tax Credit was enacted in 2009 by the North Dakota State Legislature.

This property tax credit is available to veterans of the United States armed forces with a disability of 50% or greater.

To qualify, individuals must also have been discharged under honorable conditions or be retired from the armed forces of the United States, and must reside on and have an interest in the property for which the credit is claimed.

In addition to the 12 percent state paid credit that all North Dakotans receive, there are a couple of property tax credits for which you may be eligible.

Last modified 18-Jul-2016 10:55