Have you decided to buy property for your children and do not know what taxes to pay you? Are there tax breaks? Then this article is for you!
And so everything is in order!
When registering a house for children, the VAT rate is reduced (it differs if real estate is purchased from a developer or from a private person), cadastral and mortgage taxes are fixed. Tax deductions for interest expenses on the loan can be refunded
There is a housing benefit for a child, but provided that he does not have another housing in one municipality and / or has already been purchased with the same tax benefit. And also parents must live in the municipality where the housing is purchased.
And one more thing: if you register a house for a child, but he will not live in this house, then you will have to pay taxes as for a second home.
Another additional advantage of registering housing for children: the property cannot be confiscated if the buyer has not paid taxes. If the father or mother is the sole owner of the property, then you are more insured. This is because the law prohibits the confiscation of real estate when a late taxpayer owns one residential property used as civilian housing rather than luxury property.
According to the law, parents have the right to lawfully use the child's property until the child reaches the age of majority. The right of the user applies to everything: furniture, real estate of a minor, with the exception of goods acquired by a minor as a result of his work or donated to him.
Parents use their children's home as if they were the owners and diligent about the property; however, they cannot sell it.
When the child reaches the age of majority, the parents lose their legal right to use the property. In this case, the property owner can evict them. To avoid this problem, a parent who buys a home on behalf of a child can make a usufructable donation.