Dear XXXXXXXX,
By going through your question, you deciding to stay at the second home that you have decided to purchase is proper. And thus, I see no conflicts if you declare that that shall be used as your primary residence. You are primarily correct and can safely go ahead.
I hope the above helps...
Regards,
What is the minimum of stay (getaways per year)at the second home per year to qualify as a primary residence without triggering a conflict ???
Thanks in advance, Martin
As per my knowledge, minimum stay of 7 months is required for the place to be called a primary residence.
Can the seven months be divided into several stays...eg. 7 seperate stays of 31 days each.
Martin
Yes.. Certainly they can be divided...
Warm Regards,
One final question...are you sure that the minimum total is 7 months ??? or could it be less???
Yes.. I am 99% sure. It is required to stay for the "majority" period of year at the place which can be called primary residence. It is liberally interpreted from minimum o f181 Days and up. (^months and one day)
Dear Friend,
One typing error in last line of my reply... I am highlighting in bold.
Yes.. I am 99% sure. It is required to stay for the "majority" period of year at the place which can be called primary residence. It is liberally interpreted from minimum o f181 Days and up. (6 months and one day)
How does one prove that we stayed at the second home for 181 days....???? is it just an honor system???
The proof of primary residence ----- It depends on all the facts and circumstances of each case, including the good faith of the individual. Usually it is the home in which a person lives most of the time, whether he owns it or rents it. A condominium, cooperative, houseboat or mobile home may be a principal residence.
This can be circumstancially proved. i.e. by utility bills, usage of other services at that place, your mailing address for most of the time.. etc.
In addition to what I said above in my replies, I shall come back to your original query. I forgot to sum up my replies.
You can, therefore, safely declare on the mortgage application that you shall be using it as your primary residence. You are primarily correct in this and there shall be NO Conflicts.
I hope the above helps..
Warm regards,
Financial Advisor
Technical Analyst in Financial Markets -- Experience of more than 10 years in consulting