Principal Residence

The primary location that a person inhabits. It doesn't matter whether it is a house, apartment, trailer or boat, as long as it is where you live most of the time.

You can usually avoid capital gains on the sale of your principal residence, provided you buy another place of equal or greater value that is going to become your new residence.


Investment dictionary. . 2012.

Look at other dictionaries:

  • principal residence — The residence (which may be a single family home, trailer, condominium, or houseboat) where the taxpayer resides most of the time. For tax purposes, capital gains may be deferred on the sale of the taxpayer s principal residence if a new… …   Black's law dictionary

  • debtor's principal residence — (13A) The term debtor s principal residence (A) means a residential structure, including incidental property, without regard to whether that structure is attached to real property; and (B) includes an individual condominium or cooperative unit, a …   Glossary of Bankruptcy

  • residence — noun 1 house ADJECTIVE ▪ desirable (BrE) ▪ palatial ▪ official ▪ royal ▪ personal (AmE), private …   Collocations dictionary

  • residence — Place where one actually lives or has his home; a person s dwelling place or place of habitation; an abode; house where one s home is; a dwelling. Perez v. Health and Social Services, 91 N.M. 334, 573 P.2d 689, 692. Personal presence at some… …   Black's law dictionary

  • Residence principale — Résidence principale La Résidence principale est l habitation où la personne qui y loge conduit ses activités principales. Sommaire 1 Problématique 2 Rôle social 3 Notion juridique 4 Propriété ou locatio …   Wikipédia en Français

  • principal — principal, ale, aux [ prɛ̃sipal, o ] adj. et n. • 1119; « princier » 1080; lat. principalis « principal, du prince », de princeps I ♦ Adj. 1 ♦ Qui est le plus important, le premier parmi plusieurs. ⇒ 1. capital, essentiel, fondamental, primordial …   Encyclopédie Universelle

  • Residence universitaire Jean-Zay — Résidence universitaire Jean Zay Article principal : Antony. La résidence universitaire, vue de la Croix de Berny …   Wikipédia en Français

  • Résidence universitaire Jean Zay — Article principal : Antony. La résidence universitaire, vue de la Croix de Berny …   Wikipédia en Français

  • Residence Palace — Résidence Palace 50°50′32″N 4°22′50″E / 50.84222, 4.38056 …   Wikipédia en Français

  • residence — res·i·dence / re zə dəns/ n 1: the act or fact of living in a place 2 a: the place where one actually lives as distinguished from a domicile or place of temporary sojourn a person can have more than one residence but only one domicile ◇ A… …   Law dictionary

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