Sentences with phrase «sold as a residence»

After the researchers finished their monitoring and the curious departed, the Saskatchewan house was sold as a residence.

Not exact matches

As an example, a cap of $ 500,000 in tax - free capital gains on any principal residence means that a home sold for $ 1 million that was purchased for $ 100,000 in 1985 say, would have $ 400,000 taxed at the owner's tax rate at the time of the sale (about 35 % for the average middle class Canadian).

«If you claim part of your home as business usage, I can see them perhaps taxing a portion of the principal residence when you sell,» says Bell.

Since selling Cranium to toy giant Hasbro, Richard's creative touch has extended from the founding of an innovation lab, to advising Starbucks about how to foster a culture of innovation as their entrepreneur is residence.

The man knows people; he has held top positions at Compaq and 3Com and worked as an entrepreneur - in - residence at the Mayfield Fund before founding a software company that was later sold to Cisco.

I'm sure I could cut expenses such as my credit card bill, and sell my primary residence and downsize to make my savings last forever.

Interesting data points: Absentee buyers, typically investors who don't intend on living in the home as a primary residence, made up 22.3 percent of all homes sold in March, up from 20.9 percent at the same time last year.

To qualify, you must have owned your home and used it as your main residence for at least two years in the five - year period before you sell it.

But he bought the flat before he was an MP, sold it soon after election and says the Inland Revenue confirms it was still exempt, as his main residence, when he sold it.

If the parents / guardians of Returning Singaporean children do not currently have a local address as they had sold their last residence, how would the nearest primary school with vacancies be determined?

Any profit earned on the sale of the foreign property is calculated in the same manner as non-primary residence property sold in Canada.

A Reverse Mortgage loan is repaid only when you either sell your home or no longer live there as your principle residence.

Now, if the property is not a primary residence but an income property or a cottage then you could find yourself in a forced sale situation — where the CRA proceeds with the lien in federal court, prompting you to either pay your outstanding debt, or lose title and ownership of the property, which then goes through the legal procedure of foreclosure and the home is then sold as a power of sale, to clear the debts.

Suppose you owned a property that you used as a vacation home for 14 years, but then sold your principal residence and lived in it as your principal residence for the next 14.

Capital Gains with No Income Tax: Once every two years, single homeowners can accept a tax - exempt profit up to $ 250,000, as long as they owned and occupied the home as a principal residence during any two of the last five years before they sold.

And if you don't ever want to share your residence with roommates or tenants, consider the Live - In Flip House - Hack.: basically, buy a rehab property as your principal residence, move in, rehab, increase value, then move out, sell at a profit or rent out for income.

This guideline will not apply if the previous property has been sold or refinanced as a non-owner occupied residence.

When you sell the property or no longer occupy your home as your primary residence for a period of 12 months or longer, or fail to maintain the property taxes and homeowners insurance.

Also known as a gap loan or «repeat financing,» a bridge loan is an excellent option if you're purchasing a home before selling your previous residence.

As you say, you could also sell your current residence (also hers) to her and just use the capital gains exclusion for primary residences.

If that's the case, if we assume she sold it in, say, 2010, the cottage will qualify as her principal residence for subsequent years, but not prior.

Additionally, this tax credit does not have to be repaid unless the home is sold or is not used as the buyer's principal residence within 3 years after the initial purchase.

The right, available in most states and in the bankruptcy process, to treat your residence as exempt property that can not be sold to satisfy the claims of unsecured creditors.

If the seller owned and used the home as a main residence for at least two of the past five years before selling it, they can usually exclude up to $ 250,000 ($ 500,000 for joint filers) of the gain from taxable income.

You also need to have the home you intend to sell as your primary residence for at least two years of that same five - year period.

Once the last surviving borrower dies, sells your home, or no longer resides there as the primary residence, you or your estate is responsible for repayment of the money you received from the reverse mortgage, plus interest and other fees.

The loan is repaid when you sell your home, the last borrower passes away, or you no longer live there as the principle residence *.

When the property is sold or no longer used as a primary residence, the cash you received in a line of credit or payment, interest, and other HECM finance charges must be repaid.

You may also be limited in doing so if you had a previous principal residence that you sold during the time you have owned the cottage and you treated it as your principal residence, with no capital gains tax payable.

If you owned your home for all 20 of those years and you sell your home in the future after owning it for 40 years, 20 out of those 40 years you will have designated another property as your principal residence.

This means that you can designate a house in Phoenix, Arizona as your principal residence — which would exempt you from having to pay capital gains tax, when you sell the property, to the CRA.

«If you claim part of your home as business usage, I can see them perhaps taxing a portion of the principal residence when you sell,» says Bell.

As an example, a cap of $ 500,000 in tax - free capital gains on any principal residence means that a home sold for $ 1 million that was purchased for $ 100,000 in 1985 say, would have $ 400,000 taxed at the owner's tax rate at the time of the sale (about 35 % for the average middle class Canadian).

To qualify, you must have owned your home and used it as your main residence for at least two years in the five - year period before you sell it.

If the home is sold, if the borrowers die, or if the home is not occupied as a principal residence for more than one year, the reverse mortgage comes due and must be repaid.

I think that if you are looking to mortgage your next place, that you will need to sell it, as the banks will not agree to a mortgage which isn't your primary residence.

But to Davies, the targets are obvious: «Those who sell properties that may not qualify as a principal residence.»

Another thing to consider is that when you sell, as long as you use any capital gains to purchase another primary residence, those gains are not taxed.

Considering selling your home and moving to a smaller residence as a way to lower housing costs and free up some extra cash for spending?

The Villas Las Palmas Boutique Hotel and Residences in Tulum is almost sold out before construction has even finished, and this new phase will be just as popular.

Selling someone on a straw bale house, earth ship or solar passive home can be difficult, but if they could rent one and live in it for a few months they may understand the benefits as well as the life style changes required and be more open to having such a home as their primary residence.

Even if they choose to sell the house, the total proceeds can go towards purchasing a new residence, hypothetically debt free as long as the purchase price is lower than the proceeds from the sale.

When you sell the property or no longer occupy your home as your primary residence for a period of 12 months or longer, or fail to maintain the property taxes and homeowners insurance.

Armed with a valued mix of current contact data and local market experience, Eggleston notes that agents can provide neighbors of a Just Sold residence with a thoughtful, detailed analysis of current market activity, buyer interest, and smart pricing strategies, establishing themselves as the agent to keep in mind.

In December 2013, Rodriguez won an exclusive agreement to handle sales at The Residences at Mandarin Oriental where she has sold eight units (as of September), with a total volume of $ 16 million.

Have you sold a couple of houses recently as a result of the increased capital gains exclusion on the sale of principal residences?

I'm very much in the learning / education phase myself as I work on fixing up my own personal residence with the intention to sell this year.

As for the personal residence, we've already determined what our selling number would have to be, and given that the number is about 20 % above market value, I'm fairly confident it won't be an issue...; --RRB-

Also primary residences are often better as an eventual flip house than as a rental due to the tax exemption of selling your primary home for 2 out of the last 5 years being tax free unless you exceed a certain price or income.

These are the owners of INVESTMENT properties and are more likely to sell, as opposed, to owners who actually occupy their residence.