Have you been presented with an apartment? Or do you just think what type of transaction to choose to transfer property to your children - donating real estate or its inheritance? In any case, it would be worthwhile to find out about all the details of this method of transferring the apartment.
Real estate donation: is there a tax?
Most Russians believe that accepting real estate as a gift is for some reason easier than inheriting it. Partly they are right. For the contract, only title documents are needed here . No need to spend time getting other certificates, no cadastral number of the site is required. But there is still a gift tax for real estate. Anyone who has been given square meters must pay the state 13 percent of the cost of a house or apartment. It is excluded only when the gift is accepted by close relatives of the former owner. For example, children or parents.
Required documents
It is worth noting that for the donation of real estate you need the same certificates and documents as with its sale. Having only the right of ownership on hand, you can conclude only a contract of promise of gift. Documents are needed for all types of real estate, whether it is an apartment, house or land.
After the contract of gift of real estate is signed, it is subject to mandatory state registration. In order to receive it, you will need the following documents:
- A deed of gift in triplicate.
- A package of documents confirming the ownership of the property being donated.
- Passport of those involved in the transaction - that is, the donee and the donor.
- A receipt confirming payment of the state duty for the registration procedure of the contract.
- Passport from the BTI.
The contract will be officially registered within one month after you submit the necessary documents.
Promise to give
Donation of real estate can initially not be documented. It is for this that the so-called contract of promise of gift is needed. In such a situation, a promise can be equated to a contract of gift of real estate, if it is documented and it clearly expresses the intention to transfer the property from one person to another.
It is important to emphasize that the promise is made out in writing and also carry out its state registration.
In the event that a promise of gift is made, but the donee suddenly dies, his heirs cannot claim this property. Of course, unless otherwise specified in the deed of gift. But if the donor dies, then his heirs fulfill his will, that is, they must give the promised squares of real estate.
Can gift be canceled?
Donating real estate suggests that it can be canceled. But only through the court at the suit of the former owner, that is, the donor. This is possible if a sale is actually hiding under a deed of gift. Then the donee, who actually paid money for square meters, risks losing both finances and property. After all, donating real estate is a gratuitous transaction, and to prove that you gave the money is almost impossible.