Beneficiaries of the First and Second Home programs will be able to rent and even sell their homes, according to the normative act posted on the Ministry of Finance website, which will bring important changes to the two government programs.
The sale or rental of the home can be done even earlier than the initially established 5-year period, but only by complying with the norms imposed in the program and after full repayment of the loan. Also, a home purchased through First Home can be transformed into a company headquarters.
Another provision of the normative act stipulates that those who want to benefit from the Second Home program are obliged to use the amount received from the sale of the home to liquidate the initially granted loan or, if this is not sufficient, to pay the difference for the purchase of the new home from their own sources.
To facilitate public access to the two government programs, the normative act also includes the possibility of registering the spouse, as a result of the fact that the marriage certificate intervened after the purchase of the home, with the home also being the subject of a partition in case of divorce.
Source: Imobiliare.Net
Frequently Asked Questions
Can I sell a First Home property before 5 years?
Yes, the sale or rental of the home can be done earlier than the 5-year period, provided the credit is fully repaid and program norms are respected.
Can a First Home property be used as a business headquarters?
Yes, the new legislative changes allow a home purchased through the First Home program to be transformed into a company headquarters.
Can I add my spouse to the contract after the purchase?
Yes, the normative act allows for the registration of a spouse if the marriage occurred after the home was purchased.