Personal Finance

Is there any way to qualify as first-time home buyer if my common-law spouse had his name on the title of a house?

  • Last Updated:
  • Mar 17th, 2022 7:25 pm
[OP]
Jr. Member
Mar 2, 2018
109 posts
84 upvotes

Is there any way to qualify as first-time home buyer if my common-law spouse had his name on the title of a house?

I am planning to purchase a house in the coming months. I have never owned a house before and so would love the tax savings from maximizing an RRSP and then withdrawing for the down payment. But my common law spouse was on the title of his previous house, together with his sister, cuz his mom couldn’t qualify for the mortgage by herself. So now I’m annoyed that I may not be able to qualify as a first-time home buyer and make use of the RRSP tax savings cuz of this. I can’t just leave the funds in the RRSP - I will need it for the down payment. Should I even bother contributing to the RRSP and try to qualify as a first-time buyer?

The spouse sold their house a year ago. He won’t be on the title for this house that I am buying.
2 replies
Sr. Member
Aug 16, 2010
552 posts
136 upvotes
Thornhill
You can still qualify for HBP, even if your spouse doesn’t. We did exactly this - I had withdrawn under HBP prior to meeting my wife. When we bought our place together, she was able to withdraw funds under HBP.

If both spouses qualify for HBP, each of them could withdraw funds under HBP, effectively doubling the amount.

There was another first time home buyers credit (different from HBP) that required both spouses to qualify. I don’t know if this credit even exists anymore as it’s been a long time since we purchased our place.
Deal Addict
Mar 3, 2018
3080 posts
3456 upvotes
GTA
You are considered a first-time home buyer if in the prior four year period you did not occupy a home that you owned, or one that your common-law partner owned. If you never lived in your common-law partner's home that was owned you qualify for the HBP.

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