Skip to content
BOL Conferences Top Gun 23
Learn More - Click Here!

Thread Options
#1992860 - 02/02/15 05:59 PM 1098 Tenants in Common
yy2say Offline
Gold Star
yy2say
Joined: Apr 2002
Posts: 279
PA
Should we be splitting the interest paid out for each borrower and reporting as such when they are Tenants in Common?
_________________________
"Go, Dog. Go!" ~ P.D. Eastman

Return to Top
Operations Compliance
#1992882 - 02/02/15 06:18 PM Re: 1098 Tenants in Common yy2say
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 80,325
Galveston, TX
Payer of Record
The payer of record is the individual carried on your books and records as the principal borrower. If your books and records do not indicate which borrower is the principal borrower, you must designate one.

How they split up the interest is up to them.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1992892 - 02/02/15 06:38 PM Re: 1098 Tenants in Common rlcarey
yy2say Offline
Gold Star
yy2say
Joined: Apr 2002
Posts: 279
PA
Excellent ...that is exactly what I thought, but the question was posed.
_________________________
"Go, Dog. Go!" ~ P.D. Eastman

Return to Top

Moderator:  Andy_Z, John Burnett