2024-10-15 17:30:00
THE habitual residence it is, in the eyes of the Revenue Agency, that building which constitutes residence of the taxpayer for a continuous period of at least three years or inhabited for twelve continuous months, after purchasing or renovating it if it is a recently built house.
The place of registration, tax domicile or consumption of supplies are some of the aspects that this public body will take into account to ensure whether it is habitual residence or not. But is it possible to rent this property?
“There is no legal impediment to renting a habitual residence if there is a plan to abandon, for example because you move to another city, divorce, etc.”, explains the lawyer of Legálitas, María Lucila Rodríguez. To do this, it is necessary to stipulate a rental contract with the ‘tenant, since otherwise there will be no administrative relationship between the owner and the tenant.
When you change your address, the house that was habitual residence of the owner will cease to exist. When this change is made, the interested party will have to register at the new address, otherwise the administration may consider the situation as a false registration and penalize him with a fine.
Can you rent out your primary home if you have a mortgage?
Him When granting a mortgage loan, the bank takes into account whether the house is used as a main residence or as an investment. and, therefore, the conditions will vary for each case. The lawyer underlines that if the mortgage concerns a first home “the sum of money that can be granted by the bank is greater”.
If you get a mortgage to purchase a habitual residence and decide to rent, Rodríguez advises review the clauses of the loan granted by the bank so that what is agreed in the mortgage deed is not violated. However, Legálitas explains that financial institutions usually allow the rental of this type of house, as long as the conditions established in the mortgage contract are respected.
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