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Nevertheless, realty is far too expensive for many people to purchase outright using money: Islamic home mortgages solve this issue by having the residential or commercial property change hands twice. In one variation, the bank will buy your house outright and then serve as a property manager. The property buyer, in addition to paying lease, will pay a contribution towards the purchase of the property.
This is due to the fact that in some nations (such as the UK and India) there is a stamp responsibility which is a tax charged by the government on a modification of ownership. Because ownership changes two times in an Islamic mortgage, a stamp tax may be charged two times. Many other jurisdictions have similar deal taxes on change of ownership which may be levied. http://wert-tools.ru/user/grodna9uar |
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