#1880943 - 12/23/1303:33 PMHMDA - Condo leased to business
MarieF
Junior Member
Joined: Nov 2011
Posts: 28
Texas
We made a loan to an individual to purchase a condominium. The condominium is being leased to a corporation. Should I report as a purchase or not report since it appears the condo is being used for business purposes?
I would treat that as a business purpose loan, since the business determined this was financially more advantageous than paying for hotels when in that location on business travel. The travel expenses are business expenses. It is not the principal's home.
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