Do you want to avoid a dispute over the property and transfer it to your children? You should bear this in mind.
The joint property can also be transferred to joint children. This can make sense if they both want the property to remain "in the family". This procedure is advisable if there is only one child. If there are several children, disputes can easily arise over the use of the property: Instead of the spouses arguing about the continued use of the property, the problem is effectively passed on to the next generation. A transfer to the next generation is easily possible if the child is already an adult, earns money and can use the flat or house themselves and pay for the upkeep, such as rubbish collection, property tax, etc.
If the child in question is still a minor, the guardianship court must also approve the transfer.
It should be noted that during the divorce phase, neither partner may sell or give away shares of the jointly owned property over the head of the other. This is because the property is an essential component in the community of accrued gains, and both partners must decide jointly on its fate.
There are also tax issues to consider when making a gift. Parents can give a property worth up to 400,000 to their children as a gift. Gifts with a higher value must be taxed if the property is not used by the child themselves.
Do you still have a question about donating property? Contact us now. We will be happy to advise you.
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