HullyGully Posted March 15, 2015 Share Posted March 15, 2015 Could someone please confirm the rates / cost of transferring 2 houses from a mother to daughter Is there a special rate for this type of transaction? Is the transfer cost based on land and house Does VAT apply, and if so what rate Link to comment Share on other sites More sharing options...
bangmai Posted March 15, 2015 Share Posted March 15, 2015 I think 2% + .5%...........you will probably use the Land Office value. Link to comment Share on other sites More sharing options...
LivinLOS Posted March 16, 2015 Share Posted March 16, 2015 I also think the ownership term of the property is involved.. if you own it less than 5 years you pay a higher speculative tax. Its also a negotiation.. The land office has a number it cannot go below, but will usually ask a lot more than, the more clout your negotiator has or the better relationship to the land office the more chance you have of getting that at the bottom book rate. Link to comment Share on other sites More sharing options...
Rancid Posted March 16, 2015 Share Posted March 16, 2015 I don't know if this is possible but what about adding the daughter to the chanote , and then later removing the mother? Suspect they would have blocked that one as a way of dodging tax, maybe some else here knows? Link to comment Share on other sites More sharing options...
Dante99 Posted March 16, 2015 Share Posted March 16, 2015 Some things I have heard from fairly reliable sources: there was a time factor as mentioned above that effected the tax rate if someone is added to a chanote, it is a taxable transfer of ownership, same for removing a name from a chanote, no mention of special rates for transfers to children adding the daughter as a second name would result in transfer tax on half the value of the property if the daughter is less than 20 years old, she can not act on her own to sell land or a house, the court would have to approve it as being in her interests since she is a minor Link to comment Share on other sites More sharing options...
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