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Donation of real estate

Donation of immovable property is a common way of transferring property between relatives. The main advantage is that no local tax is paid, which is based on a tax assessment and in some cases is significantly high. However, if the donation is made between other persons, local tax is due.

If you need to prepare a deed of gift or assistance with a property donation, you can contact a good property law attorney to assist you in completing the transaction.

It is important to know that heirs with a reserved share can challenge the donation after the donor’s death and request its revocation. A gift can also be revoked when the donee refuses to give the donor the maintenance he needs.

Donors cannot donate their own real estate, but they can receive it. The donation itself is made in the form of a deed. It is common in practice for donors to retain a right of usufruct over the donated property for life.

A set of documents shall be presented to the notary when the transaction is executed:

● real estate ownership document;
● tax assessment certificate;
● certificate of marital status;
● certificate of relationship;
● declaration under Article 26 of the Family Code;
● sketch of the property;
● scheme of an independent object in a building;
● certificate of heirs;
● Power of attorney – if necessary;
● decision of the legal entity – if the donor is a legal entity;
● model declarations.

If you are about to make a donation, you may wish to contact an estate law attorney to assist you in the process. Legal Frame Law Firm has a wealth of experience and will assist you in completing the transaction successfully.

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