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However, realty is far too costly for a lot of individuals to buy outright utilizing money: Islamic home loans resolve this issue by having the home change hands twice. In one variation, the bank will buy your house outright and after that serve as a property owner. The property buyer, in addition to paying lease, will pay a contribution towards the purchase of the home.
This is since in some nations (such as the United Kingdom and India) there is a stamp duty which is a tax charged by the federal government on a change of ownership. Since ownership modifications twice in an Islamic mortgage, a stamp tax may be charged twice. Many other jurisdictions have similar transaction taxes on modification of ownership which might be imposed. https://serialpoisk.tv/user/legonaqkhk |
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