Requirements for Donation of Property: Advantages, Rates and MORE

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The term of «Donation of real estate», since, normally, it is not a concept that we use many times. However, it is something very typical and, above all, very necessary to know. With this action you can legally transfer a property to a relative or acquaintance. For that reason, and taking into account the importance of the procedure, we have written this article about the Requirements for Donation of Property in Peru.

Here you will be able to find very relevant information regarding this topic, since we are going to explain the advantages provided by the donation of real estate. In addition, we also dedicate some lines to the value of the fees that this type of procedure has, since you must know how much you can economically process this donation.

Therefore, if you are interested in carrying out an action similar to this procedure, we invite you to continue reading this article, so that you know a little more about the requirements for property donation and much more information on the subject.

What are the Requirements for a Property Donation?

It may be that this topic of real estate donation is something unknown to you, since it is a term that is not usually used normally. For that reason, we are going to start by explaining the topic from the beginning, which is: the requirements you need to carry out this procedure.

Before presenting all the requirements you need, it must be clarified that it is important to follow and comply with these requirements to the letter. Now, an important fact on the subject is that you need the participation of a notary public. This professional, in turn, will need you to comply with the following aspects:

  • The note of transfer of real estate through donation, authorized by a competent lawyer.
  • The receipt of the Property Tax Payment, corresponding to the year in which the transfer or donation is to be made.
  • Receipt of Alcabala Tax Payment (Only if the case warrants it).
  • The Constancy of Income Tax Payment (Only if the case warrants it).
  • The National identity document (DNI).
  • The Assessment certificate of the property to be transferred.

On the other hand, although it is not a necessary requirement to carry out the procedure, It is recommended to register the donation. This is usually done to avoid possible setbacks or bad times in the future. To do this, attend the Register office closest to the property and begins the registration process.

Now, in order to carry out this procedure, these are the requirements that you will need:

  • The application for registration of the title, completely filled out and signed by the person authorized to do so.
  • The current National Identity Document of the beneficiary.
  • A request letter written by the person who is going to make the donation, explaining their reasons for the transfer.
  • Pay the registration fees for the procedure.
  • The Community Registry of the property.
  • The proof of residence of the property.
  • Present three (3) payment receipts, to validate compliance with the property price.
  • The public registry of the property (Copy).

What must be taken into account for the property donation?

In order to do this correctly, without any setbacks, there are a number of aspects that you should consider. These considerations are the following:

  1. You cannot transfer more than what a person can dispose of by will. This applies to the cases of people who have a partner and children. That is, if it is a couple, the property is «divided into two parts», one fifty and fifty; therefore, a person can only transfer his half, but not the other.
  2. Have all legible and presentable legal documents.
  3. The voluntary acts of liberality through which a person or entity seeks to preserve part of its heritage.
  4. Be sure to be in full agreement with the donation of the property, as there is no going back, if you decide you don’t want to.
  5. Be aware of all the details of the entities and legal procedures of the case.
  6. And finally, have a very good relationship with the person to which you are going to donate your property.

Important! It is recommended, before starting the property donation process, that you seek legal and competent guidance, to correctly address the issue and the procedure to follow.

Advantages of the Property Donation

When talking about the advantages of donating real estate, we can divide the discussion into two parts: one referring to the issue of the legal donation of property and the other referring to the altruistic aspects that a donation encourages.

Regarding the first topic, the legal advantages of a real estate donation, we find a general aspect that encompasses all the benefits that are achieved.

Primarily, we can find that the greatest advantage of this procedure is received by the beneficiary; since it is you will receive a property without any extra expense, you only have to pay the taxes of it.

This aspect is due to the fact that when a property donation is made, the benefactor refuses to charge any expense to the other person for the procedure; practically, it gives you the property for free, since it is a donation.

Now, regarding the advantages that making a donation can bring you, in the altruistic aspect, we can find the following benefits:

  • Grant aid to loved ones, if you need it.
  • Avoid a future discussion about the distribution of assets between acquaintances or relatives.
  • You make sure to leave your property in good hands.
  • Strengthen your family ties, assuming that the transfer is between the family.
  • You can help a person close to you, unknown or close to you, if they are going through a bad time in their life.
  • You help the beneficiary to create comfort or economic opportunities, if that is the case.
  • In addition, you do a good deed that can sit well on your heart.

On the other hand, the advantages that you will receive for donating your property will depend entirely on you and the situation in which you are involved. Therefore, the benefits will depend on each person and particular situation.

Value of Donation Fees

Usually, this type of procedure is usually very economical for the parties involved, especially if it is two parts very close to each other. They can be family members or friends of many years.

To get started, the donation of real estate is a free process for the person to benefitia; that is, the one that will receive the property.

However, this person will have to pay taxes and other basic expenses of the property; but you will not have to pay any amount for the transfer. The only thing that dIt must be carried out is a donation contract between the parties involved.

Now, in order to carry out this contract It is necessary to have the participation and mediation of a notary public. In this case, it may be worthwhile that both parties make an economic effort to cover the notary’s expenses.

On the other hand, when we talk about the value of fees for the donation, we refer to the verbal agreement that exists between the people involved in the negotiation.

How is this? Here we will try to explain. According to the laws of the country, two people can verbally agree, without having to sign a document, the donation or exchange of property and real estate, as long as the value of the property does not exceed 25% of the Tax Tax Unit (UIT).

Therefore, in the event that the value exceeds that 25%, it will be necessary to sign and agree a legal and written contract to make the donation or transfer.

What is it?

Finally, in this last part of the article by Requirements for Donation of Property, we are going to make a brief summary about all the information that we have presented to you in the previous lines. To do this, we will start by defining what the property donation is about.

The term of donation of real estate is little used, but the process tends to have a lot of use. This procedure try to agree on the transfer (donation) of a property or donation between two people: the person who owns the property and the person who will receive the property.

This procedure is very useful to help those who need it or those young people who face adult life alone; since this procedure does not generate any expense or almost never generates any expense, in the person who will receive the property.

For that reason, we invite you to save this article about Requirements for Donation of Property, in case you need it later in life, either to be the person who will make the donation or the person who will receive the donation.


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