My Japanese wife and I are buying a house with the intention of me (US national on spouse visa, no permanent residency) putting 10,000,000 yen into the down payment which was a gift from my parents in the US. However, we just were told by the real estate company that the gift tax exemption wouldnt apply because the house is in my wife’s name only, and not mine. This is a major screw up on my part, but I’m wondering if there’s anything we can do to rectify this. My wife has not signed the mortgage agreement yet, which was also to be solely in her name, with me as beneficiary. However, she did sign the house purchase agreement with the real estate company. Any advice would be greatly appreciated.
by mopje7