10. Taxpayer's principal residence
Regulations: Art. 4.Four Wealth Tax Law
The taxpayer's habitual residence is exempt, to a maximum sum of 300,000 euros.
The exemption will be applied by the taxable person who holds the right of ownership over the habitual residence, full or shared, or a real right of use or enjoyment over it (usufruct, use or habitation).
Taxpayers who are holders of rights that do not give rise to the use and enjoyment of the habitual residence (such as, for example, bare ownership, which only confers on its owner the power to dispose of the residence, but not its use and enjoyment) , they will not be able to apply the habitual residence exemption.
For the purposes of applying the exemption, habitual residence is considered to be that in which the declarant resides for a continuous period of three years. However, it will be understood that the home had that character when, despite said period not having elapsed, the death of the taxpayer occurs or circumstances arise that necessarily require the change of home, such as marital separation, job transfer, obtaining first employment or more advantageous employment or other similar ones.