residence(redirected from in residence)
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The place where a person lives most of the time. A residence may be eligible for certain tax breaks. For example, one may be able to write off the interest on a mortgage on a primary residence. Various rules exist to determine what constitutes one's residence for tax purposes.
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The place where one lives.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.