primary residence Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “primary residence” in the English Dictionary

"primary residence" in Business English

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primary residencenoun [C]

uk   us   LAW, PROPERTY, TAX
the ​place where a ​personlives most of the ​time and that is considered their ​home for ​legal and ​taxpurposes: He ​keptresidences in Hawaii, Long Island, and Florida, but his ​primaryresidence was in Manhattan. Homeowners who make their ​house their ​primaryresidence for at least two ​years don't have to ​claim any ​capitalgain from the ​sale of the ​home up to $250,000.
(Definition of primary residence from the Cambridge Business English Dictionary © Cambridge University Press)
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