Designing A Dedication: Subtleties And Nuances

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Designing A Dedication: Subtleties And Nuances
Designing A Dedication: Subtleties And Nuances

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Making a donation is an important process in which it is highly undesirable to ignore various subtleties and nuances. Observe all the established norms, and then you will not have any problems, and the received property can be used legally, without worrying about anything.

Designing a dedication: subtleties and nuances
Designing a dedication: subtleties and nuances

Instructions

Step 1

First of all, you need to understand what is understood in jurisprudence by a donation agreement. This is a gratuitous transfer of property rights. The main condition for its conclusion is the capable state of the owner of the real estate and his rights to the property.

Step 2

Under current legislation, notarization of a deed of gift in an official form is not necessary. This suggests that this document can be drawn up in ordinary writing, but then, if the original is lost, problems will begin. To prevent this from happening, it is best to create a document from a notary, so you can always request a copy of the dedication.

Step 3

Registration of the transfer of ownership is an extremely important condition. To do this, you need to write a statement on behalf of the donated person to obtain property rights, as well as on behalf of the donor - for the transfer of these rights. At the same time, the originals of documents certifying the ownership of the property and a receipt for payment of the state duty are provided.

Step 4

In addition, additional documents may be required during registration. For example, if, when donating real estate, other owners live in it, then their consent is needed. Documents from the guardianship authorities will be needed if minor children live in the house or apartment. In the case of real estate donation, you can donate only a part of your share.

Step 5

The fundamental point in the design of the dedication is that it is being issued only at the moment. It cannot replace a will, since it will not be legally binding. A gift deed can replace a will only if the donor is ready to transfer his property during his lifetime.

Step 6

It should also be borne in mind that if the property is donated to relatives, then you will not have to pay for anything other than paying for the services of a notary and state fees. But in the case of transfer to acquaintances, friends or distant relatives, you will need to pay 13% tax on the free transfer of property. The amount of the tax is calculated on the market value of the property. You can avoid paying it by filling out a purchase and sale transaction. True, in this case the donor will have to pay if the property has been in his ownership for less than three years.

Step 7

A transaction under a donation agreement is carried out without intermediaries, only in some cases the presence of a lawyer is required.

Step 8

It should be borne in mind that it is quite difficult to cancel the deed of gift later. The law provides for three situations of cancellation of the contract. This is the death of the new owner, bad treatment of the donated property, i.e. a serious threat of damage or destruction, and serious bodily harm or an attempt on the life of the donor to the gifted. Moreover, the cancellation of the contract is made only through the courts.

Step 9

There are also restrictions on the personality of the gifted. The property cannot be donated to civil servants, employees of social and medical institutions who have a working relationship with the donor. The contract cannot be concluded with incapacitated people and minors.

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