Risks of a real estate donation contract

JUDr. Ondřej Preuss, Ph.D.
20. March 2017
3 minutes of reading
3 minutes of reading
Real Estate

Have you decided to gift your property to your children? We will advise you on how to make a gift with the lowest possible cost and risk, so that you do not endanger yourself or your family relationships by making a mistake.

detail na ruce podavající si maketu domu ovázaného stužkou

Yes, we could give you a long theoretical description of how it works. But we know that the greatest lessons come from practice and from concrete cases of solutions. Therefore, we will describe the story of our client, Mr. Tadeáš, who solved a similar situation in his family.

Mr. Tadeáš had two children and one apartment. Some time ago, he gave his younger daughter a relatively large sum of money to set up a dental office. However, he did not want to disadvantage his second daughter. So he decided to sort everything out during his lifetime. At that point, however, he had no further savings. And he didn’t want to give up his apartment. He trusted his daughters, but he still wanted to have everything in black and white so that everything was clear between them.

Aproperty deed can help clarify family relationships

The solution was simple – a deed of gift for the property, which would transfer the apartment to the daughter and also establish a right of survivorship for Mr. Tadeas. Which in practice means that only after his death will the property be vacant. During his lifetime, however, the family relations will be clarified and neither he nor his daughters will feel wronged.

What to look out for in a deed of gift of real estate?

1. Check that all the information in the contract is correct. It should be enforceable and stand up to the Land Registry.

2. Don’t forget anything. You need to be precise in the designation of the immovable property in the contract – both the buildings and the associated land.

3. Describe everything thoroughly and in detail. The contract should include everything that is being transferred, including ancillary land or even household furnishings.

Donation of real estate

We will provide you with a complete legal service related to real estate donation, including a proposal for entry into the Land Registry. We will also advise you on how to deal with taxes in the most advantageous way. We will handle everything quickly and flawlessly, so you don’t have to worry about a thing. You can pay after the service has been provided.

4. Do not forget to contractually address the establishment of any easement.

5. Make sure the contract is properly signed and the signatures of all parties are verified (at a notary, lawyer or Czech POINT office or post office).

What is the best course of action?

The best procedure for the transfer of valuable real estate is to entrust the whole matter to a specialist who will prepare all the documentation for you and advise you on how to proceed. You will avoid all risks, if only because solicitors are legally insured and guarantee the accuracy of their contracts and the entire transaction.

We recommend that you avoid the specimens of a deed of gift of immovable property without the author’s name, which are commonly found on the Internet.

The risk of using such contract wording is that you may come across an outdated or incorrect model, which may result in the contract being rejected by the Land Registry. In an extreme case, it can also mean losing the gift if you fail to create a new contract before the donor dies.

What solution would you choose in such a situation? We can help you with both advice and the creation of a gift deed for the property.

Sdílejte článek


Are you solving a similar problem?

Donation of real estate

We will provide you with a complete legal service related to real estate donation, including a proposal for entry into the Land Registry. We will also advise you on how to deal with taxes in the most advantageous way. We will handle everything quickly and flawlessly, so you don’t have to worry about a thing. You can pay after the service has been provided.

I want to help

Author of the article

JUDr. Ondřej Preuss, Ph.D.

Ondřej is the attorney who came up with the idea of providing legal services online. He's been earning his living through legal services for more than 10 years. He especially likes to help clients who may have given up hope in solving their legal issues at work, for example with real estate transfers or copyright licenses.

Education
  • Law, Ph.D, Pf UK in Prague
  • Law, L’université Nancy-II, Nancy
  • Law, Master’s degree (Mgr.), Pf UK in Prague
  • International Territorial Studies (Bc.), FSV UK in Prague

Reviews of the Dostupný advokát service

Recenze služby
Economist

Jan Sekanina, Prague

My grandparents wanted to give me an apartment, but I was extremely busy at the time and couldn’t afford to put any time into finding out what I needed to do. I also had no idea how to get the transfer of ownership handled at the Land Registry. Dostupný advokát arranged everything for me, and the apartment transfer was legally arranged with no issues. Thank you and thumbs up!

Recenze služby
FinTechCowboys.cz review

Lucia Tóthová, Prague

We chose the premium package because it promised a fast reply within 24 hours, and we needed help quickly. A few hours after sending our order, Dostupný advokát called us. After discussing our issue and agreeing on the next steps, we felt confident in how the whole procedure would go since we had never experienced it before. We appreciate their patience.

Recenze služby

Jitka Salačová, Praha 6 – Řepy

In 2016 our Homeowner Association faced an unexpected event which led to the need for legal help. We reviewed many professional legal services, and chose Dostupný advokát because they remain available for contact practically anytime, without charging extra for being outside work hours. In addition, Mr. Preuss is available to speak with by phone, email and Skype, and he never fails to be respectable and discrete. We can confidently confirm the excellent quality of his service, loyalty and availability online.

View All Testimonials

You could also be interested in

We can also solve your legal problem

In person and online. Just choose the appropriate service or opt for an independent consultation when you are unsure.

Google reviews
4.9
Facebook reviews
5.0
5 200+ people follow our Facebook
140+ people follow our X account (Twitter)
140+ people follow our LinkedIn
 
We can discuss your problem online and in person

You can find us in 4 regional towns

Quick contacts

+420 775 420 436
(Mo–Fri: 8–18)
We regularly comment on events and news for the media