Donations of Immovable Property
A donation is the transfer of property from one individual to another without remuneration.
As with most transfers of immovable property, donations incur duty on documents tax for the receiver of the property and property transfer tax for the person donating the property. However there are exceptions to this rule.
For example, when property is donated by a parent to a child, no payment of property transfer tax is due by the parent, however payment of duty on document tax may be due by the child.
In cases where the following criteria are met;
the property is donated solely for the purpose of establishing residence
the child does not own any other immovable property at the time
it consists of the first donation between the parent and the child
then no payment of duty on documents tax is due by the child on a portion of the value of said property.
Note that the above information is provided for reference only and may change subject to applicable laws. Always consult the Notary for most recent changes.