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The biggest asset of many families throughout their lives was a house, which the older generation wanted to leave to their children. In the past, it had been widely recognized that property transfers to children had to be notarized and subject to high taxes, either by buying or selling in advance, or by paying for inheritance procedures after death and spending tens of millions of dollars in vain。
In fact, after the recent new rules on property, children inherit their parents ' property without a notary or fee. Many people do not understand the latest policy and have been moving in the old way, paying more and leaving property at risk。
Today, using the most common words, the advantages and disadvantages of the three forms of property inheritance, the correct process of succession at no cost, the details of the pits, and the ability of ordinary people to operate in a way that saves money and preserves the full property rights of the house, avoids the following problems: brother and sister disputes, and the inability to buy and sell the house。
I. Correcting the wrong zone first: the compulsory notary of property inheritance has long been abolished
Until 2016, the country's property inheritance and transfer of family names had to be accompanied by a notary's certificate of succession, which was charged on the basis of the size of the house, its valuation and thousands less and tens of thousands more。
The new rules, however, are clear: property inheritance, immediate family transfer and the removal of compulsory notary requirements。
In other words, parents leave their homes to their children without having to ask for a notary, without paying a notary fee, and without having to go directly to the real estate register。
This is a state policy of inclusive livelihood, but most people, and even some grass-roots intermediaries, continue to follow the same pattern, misinforming people and increasing the cost of inheritance in vain。
It is important to note here that free, civil inheritance applies only to natural children who inherit the legal property of their parents, as long as the property is fully certified, in the form of goods, accommodation, old private housing, and rehousing。
Ii. Three ways to compare transfer: two ways to spend money, one way to zero
Many families are losing because they have chosen the wrong way of moving, with different ways of paying taxes and fees, and with different effects。
1. Pre-life buying and selling: current spending, more trouble later
Many sell their homes directly to their children to save their lives。
Taxes, labour costs, assessment fees and a common dwelling are required, ranging from tens to tens of thousands。
The biggest disadvantage is that when a child is given a home and sells it later, there will be a high margin tax, and second transactions will be extremely costly。
2. Pre-birth gifts and transfers: large pits that look cheap
Relatives in the immediate family give gifts, when taxes and fees are very low, and many find it cost-effective。
But the core pit, like the sale and sale of the children's gifted houses, is subject to a 20 per cent differential tax on future sales, and a million-dollar property, which may cost hundreds of thousands of additional taxes and fees, is typical of “current savings and long-term losses”。
3. Legitimate inheritance from death: zero taxes, notarial exemptions, no follow-up pits
This is currently the only cost-free, safest, most suitable home transfer for ordinary families。
Inheritance by law under the new regulations: exemption from tax on deed, exemption from tax, exemption from value added tax, exemption from notarization and assessment, with only a few exceptional circumstances generating a few dollars of capital, which is essentially equivalent to free。
In addition, the property that is inherited, the children of a later age sell, meet the age limit, are normally exempt from tax and have no legacy of gifts or purchases。
Iii. Zero cost-free notary succession, how does it work? Full hand handle
It can be done without an intermediary, without a lawyer, by the family with their own materials。
Step 1: prepare the basic package
All materials are routine documents and do not require additional sophisticated documentation:
1. Original certificate of real estate (property certificate)
2. Identity cards for parents, children, households ben
3. Proof of kinship (account book can be directly proven without having to be issued separately)
4. Preparation of a medical certificate of death, a certificate of sale, if the parents have died
Step 2: all heirs present and confirmed
In the case of an only-born family, there is only one heir, which can be dealt with directly alone。
In the case of families with many children, all legal heirs are present and voluntarily sign the declaration of denunciation of inheritance, which is completed on-site at the centre of real property throughout the journey, free of charge and without a notary。
Many feared that siblings would be skinned and that, as long as all had voluntarily signed to confirm that official records were kept, their legal effects were identical to those of notaries and were fully protected by law。
Step 3: window verification, direct transfer
After checking the material, checking the personnel information and confirming the will of all persons, the staff member directly changes the title to the child。
For the entire period of time, the government does not collect inheritance taxes or notary fees, and the statute of limitations generally lasts three to seven working days to obtain new real estate titles。
Iv. Focused goods: a step forward to end all family disputes
Many family property disputes are not a matter of policy, but rather lack of advance planning. There is one simple way forward for the house to be stable for the children to be appointed, not to argue, not to be skinned。
When the parents are alive, a simple will is written by hand and can be kept in their own custody without a notary。
The new provision is clear: a legal will of its own, having full legal force, takes precedence over legal succession。
A hand-written will does not have to be a template or a cost, and it is sufficient to write the address of the property, the number of the property certificate, the name of the children assigned to inherit it, the date and the signature。
Maximum impact: avoidance of subsequent disputes between families with many children, equal division of property, distribution in full accordance with the parents ' wishes, and elimination of family conflicts from their root causes。
Once again, self-declared wills are protected by law without the need for a notary, witness or genuine voluntary writing。
The same applies to three types of houses
Many people think that only commercial houses can inherit free of charge, but many properties can:
1. Common-commodity dwellings, elevator rooms, sub-district dwellings
2. Old units, change of house, private room
3. Legitimate authority to house and move back
All are exempt from notary and zero-tax inheritance, provided that they have a formal real estate title certificate and are registered in the real estate centre。
Vi. Response of response to all people's concerns
1. Is the legal effect of the exemption from civil succession valid
Totally. The official immovable property register is registered directly, under the formal authority of the government, with the file being permanently retained, with full legal force and notarial inheritance, and can normally be bought, sold, mortgaged or transferred。
2. Does the presence of one child require the presence of relatives
There is no need for a single child to do it directly alone and the process is simpler。
3. Inherited houses, have any effects on future sales
No negative impact. Inheritance property is not part of the gift property, and the secondary transaction tax is the same as the ordinary merchandise house, without any additional deduction。
Summary
The way the house is passed on, it saves tens of thousands of taxes and fees, and the wrong way is to lose。
The best option at the moment is for parents to write their own will in writing, and to leave the world without a civil legal inheritance, with no significant expenses, simple formalities, secure property rights and no follow-on risks, as the most cost-effective and secure means of inheriting property for ordinary families。
Do not be misled by old perceptions, do not be blind notaries, do not buy and sell gifts early, take advantage of the new benefits and keep their family's assets for the rest of their lives, and do not suffer any loss。
Topical discussion
Are you going to move in early, or are you going to move on? Did you know that inheritance property is free of civil charges? Welcome to the comment section for a message exchange
