Gifting property: costs and valuations
In any case, there will be notary and land registry fees, which currently amount to up to 2 per cent of the property’s market value. Costs for a valuation may also be incurred in order to determine the market value. A thorough market value assessment is very often advisable in order to demonstrate the value of the gift to the tax authorities beyond any doubt.
RIEDEL Immobilien offers a comprehensive service in this regard, in collaboration with tax advisers and notaries, whereby market value reports in accordance with Section 194 of the German Building Code (BauGB) can be prepared by an in-house, accredited valuer (certified to DIN EN ISO/IEC 17024).
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- Recht & SteuernKaufen
What exactly is a ‘life lease’?
The ‘hereditary lease’ is now prohibited by law in Germany. In everyday language, however, the ‘right of hereditary leasehold’ is often referred to as a ‘hereditary lease’. A “hereditary building right” is a right equivalent to a property right, which is recorded in a separate “hereditary building rights register”. - Recht & Steuern
What is a declaration of division?
The declaration of division is governed by Section 8 of the Condominium Act (WEG). The declaration of division can be described as the ‘articles of association’ or ‘constitution’ of a divided property, as it sets out all the essential rights and obligations of the co-owners. - KaufenMarktinfos München
Buying investment property: What to look out for?
The property’s risk profile should be assessed comprehensively as part of a ‘due diligence’ process; in other words, simply looking at the gross yield is certainly not sufficient.
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