House on parents' property - inheritance problems?

Wow, a lot of dangerous half-knowledge around. Civil law-wise, the building belongs to your father - and that counts in the event of inheritance. However: The allowances are quite high, maybe you're lucky and stay below them. Then nothing will be due anyway.

I wouldn’t rely on luck; if the parents move into a nursing home, everything has to be sold to have money for it. Best regards Sabine

If the property with the houses is worth more than the inheritance tax allowance: Have your parents already transfer a part to you. This can be done every 10 years.

I still can’t imagine that this is really the case. What applies to property tax must also apply to inheritance tax. Otherwise, the tax advisor should have given us a hint back then.

It was also clear to my tax auditor that this is my house when he asked me if I had included parts of it in the business assets. Which I, by the way, did not do, so that I wouldn’t have to pay VAT later upon a sale.

What would be your opinion on how to proceed now? I really wish my parents a long life, but whether they will last another ten years is quite questionable.

Should I simply ask the tax office about this?

Matthias

Should I just ask the tax office about that?

Usually, you consult your tax advisor on such matters, but that apparently didn’t work properly for you. Maybe consult a second one? Or a notary? I don’t think the tax office provides information on that.

What applies to property tax must also apply to inheritance tax.

A tenant also pays property tax, even though it is not his house/apartment...

Well, the tax office should be able to say how it intends to calculate the inheritance tax in the event of inheritance. Until now, I assumed that it would be enough to simply remind them again that I built and paid for the house myself. I will have to pay a lot of inheritance tax anyway, so it would be good if my house is not counted.

Matthias