How To Transfer Ownership Of An Apartment

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How To Transfer Ownership Of An Apartment
How To Transfer Ownership Of An Apartment

Video: How To Transfer Ownership Of An Apartment

Video: How To Transfer Ownership Of An Apartment
Video: How to transfer ownership of a house. How to use the quit claim deed to transfer title to a house. 2024, March
Anonim

The transfer of real estate to the ownership of another person can be done in one of four possible ways. They all have both advantages and disadvantages. And not only for the person transmitting, but also for the receiver.

How to transfer ownership of an apartment
How to transfer ownership of an apartment

Instructions

Step 1

You can transfer an apartment to another person by will. It must be notarized. Only under this condition can you be sure that no one will encroach on your property. The will can be rewritten at the request of the owner; its last version will be considered valid. As for the heir, this method of transferring the living space to him has some vulnerabilities. First, the will can be challenged by other heirs. Most often this happens if the testator has relatives who, according to the law, have a mandatory share. These are minor children, a disabled spouse or spouse, dependents. Secondly, he will be able to dispose of the inheritance only six months after its receipt.

Step 2

The next way is rent, i.e. life support contract with dependents. You transfer housing to the ownership of another person, and in return you receive a certain content and the right to live in your apartment or house for life. For the person to whom the property is transferred, this agreement has two significant drawbacks. Firstly, cases of its termination are quite common, and it is no longer possible to return the money spent earlier. Secondly, the actual receipt of living space occurs after an indefinite period of time. But there is also merit. The annuity payer can dispose of housing immediately after the death of the person with whom the contract has been concluded, since he is already its owner. And the recipient of the rent can be sure that he will continue to live in the apartment. If the payer of the annuity does not fulfill his obligations, the contract may be terminated in court.

Step 3

There are two more ways to transfer real estate - the purchase and sale agreement and the donation agreement. In fact, both of these options differ little from one another. The owner is permanently deprived of his home. The first option provides for the receipt of payment in exchange for the transfer of the apartment, the second - gratuitous. When deciding to transfer housing in one of these ways, one should take into account the fact that oral agreements are not always respected. Under the pressure of life circumstances, the person benefited from you may reconsider his position both in relation to you and in relation to the apartment transferred to him. Therefore, use this option only if you are absolutely sure of the decency of this person. A big disadvantage for the gifted person is that he will have to pay tax on personal income, which is 13%. But if he is a close relative of the donor, then you will not have to pay.

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