In recent years, donation agreements for real estate have increasingly been concluded between relatives. According to the new order of the donation procedure, which entered into force on January 1, 2006, this is largely due to tax benefits.
Instructions
Step 1
Conclude a written donation agreement with a member of your family or a close relative (brothers, sisters, grandchildren) and send it to the Federal Registration Service (Rosreestr) for the state registration procedure. If desired, the deed can be certified first by a notary (to protect yourself and get comprehensive advice from a specialist).
Step 2
In addition to the donation, submit the following documents to the UFRS:
- a receipt for payment of the state duty for registration of the right of the donated to the property;
- application of the donor for registration of the transfer of ownership of real estate;
- a statement of the gifted about the registration of ownership of real estate;
- originals of documents proving the identity of the parties;
- cadastral passport of the property;
- the consent of the spouse (or other relative), certified by a notary (if the property is a joint property);
- certificate of ownership of the donor;
- a certificate from the BTI indicating the cost of the premises according to the inventory list;
- a certificate of the composition of those living on the given living space and their consent, certified by a notary.
If the gifted person lives on the same living space, then the consent of the relatives is not required if a share of this premise is donated to him.
Step 3
After all the documents go through the state registration procedure, you will receive a certificate of ownership. You do not need to pay any taxes on the donated housing if you are really a close relative of the donor, but just in case, collect all the documents establishing the degree of your relationship in order to submit them to the tax authorities upon request.
Step 4
If you are not a close relative or family member of the donor, then by April 30 of the year following the year of receiving the property as a gift, submit your income tax return to the tax authorities. In the declaration, be sure to indicate the value of the donated property and calculate the amount of tax (13% of the value).
Step 5
Obtain from the tax authorities a form of payment document indicating the amount of tax that you will have to pay within 3 months.
Step 6
You can file a return and not on your own initiative, but only after receiving a notice by mail from the tax authorities. In this case, you will have to pay the tax no later than 3 months from the date it was received. If the tax amount is too high for you, arrange the installment plan directly with your local tax office.
