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However, real estate is far too costly for the majority of people to buy outright using money: Islamic home loans solve this issue by having the residential or commercial property change hands two times. In one variation, the bank will purchase the home outright and after that serve as a landlord. The property buyer, in addition to paying rent, will pay a contribution towards the purchase of the property.
This is because in some nations (such as the UK and India) there is a stamp task which is a tax charged by the federal government on a modification of ownership. Because ownership modifications twice in an Islamic home loan, a stamp tax might be charged two times. Many other jurisdictions have comparable deal taxes on change of ownership which may be imposed. https://www.bookmark-belt.win/westlake-financial-services-careers-1 |
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