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Q: If you live 7 months at one of your residence is it your primary residence?
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Who do children live with in joint physical custody?

In this type of situation, the children live with both parents in a shared role but one of those households would have been assigned as the primary residence for the child.


If one owns the 1st home as the primary home and owns a 2nd home for family to live in - can the 2nd home still be considered as a primary residency home and not an investment property?

simple answer is no. The home can be considered as a second home if it is at least 50 miles from the primary residence. Otherwise it has to be treated as a investment.


Can you avoid capital gains taxes from the sale of a second home you did not live in and used the proceeds to buy a new primary residence?

I can't think of any. Understanding that it is the sale of a primary residence that gets a tax break...not the making of income to purchase one. Except for the special conditions under Sect 1031, what one does with the money after a recognition event normally can't effect the taxability of the event preceding it.


Can you have two different insurance polices on different addresses for one individual?

Sure. Tell the insurance companies the circumstances. One will be your primary residence and the other is a secondary residence or a rental property or whatever the circumstances.


Is it legal to use an address that you do not reside?

What is meant by "use?" Many people own second houses or summer/winter vacation locations. For legal and taxtion purposes however, you MUST choose only one residence as your PRIMARY residence (usually defined as where you spend more than 6 months +1 day a year).


When one considers a second home mortgage usually what type of home is classified as the second home?

A second home is the one that a person does not live in for the majority of the time. This may be adjusted for tax reasons but is almost always a person's primary residence.


How many acres can you homestead in Florida?

100 billion acres Not even close to accurate. Correct answer is up to one-half acre with a house that is your primary residence inside of a municipality, or up to 160 acres with a house that is your primary residence in an area of the state that is not a part of a municipality.


Which of these involves renting a residence for a specific amount of time such as six months one year or even five years?

lease


Can a deficiency judgment on a property in one state force a sale on a primary residence in another state.?

It depends on the state where the primary residence is located. For instance, in the State of Florida, the answer would be "no". The Florida Constitution provides a homestead protection against the efforts of creditors to levy on one's primary residence. However, a judgment creditor could record a certified copy of the judgment in the county where the Florida primary residence was located and thereby effectuate a lien on the property. This would keep the judgment debtor from being able to refinance the home or make other efforts to pull equity out of the home. In order to determine the answer to this question for the state in which you are located, you should seek legal counsel licensed to practice in your state.


Which Involves renting a residence for a specific amount of time such as six months one year or even five years?

lease


Can I vote in two different states on the same congressional election day if I have a residence in both states and am registered in both districts?

The premise is a fallacy. It is not possible to live in two states. Legally you have one primary residence and you may have secondary residences. You can only vote in a state where you are a resident and you cannot be a resident of more than one state. The answer is no.


What primary consumers live in streams and rivers?

one main primary consumer in streams and rivers are FISH