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However, realty is far too expensive for the majority of people to purchase outright utilizing money: Islamic mortgages solve this issue by having the home change hands twice. In one variation, the bank will purchase your house outright and then serve as a landlord. The property buyer, in addition to paying lease, will pay a contribution towards the purchase of the home.
This is since in some countries (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. Because ownership modifications twice in an Islamic home loan, a stamp tax may be charged two times. Numerous other jurisdictions have similar transaction taxes on change of ownership which may be imposed. http://dentex-tulun.ru/user/jostuso1y3 |
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