rpc
2021-01-07 10:44:06
- #1
Thank you for your answers, I wrote a post on page 3 in which I elaborate a bit further, my original post was not detailed enough.
Exactly
According to the notary, this right only exists in case of sale but not in case of a gift.
The property is well below €400,000.
I quote the notary's statement: The financing insurer will probably also refuse to terminate the financing (against prepayment penalty), since a sale below market value would be a sham transaction... and we generally only carry out the sale to end the loan agreement.
In fact, I want to build but cannot get financing as long as the financier is the first entry in the land register.
Unfortunately, the possibility of termination does not exist.
The OP wants to get out of the loan agreement. The bank apparently does not agree, even against a prepayment penalty. The trick here is supposed to be that in case of a sale there is a special right of termination (against prepayment penalty).
Exactly
However, I am surprised that this is supposedly not the case with a gift with a change in the land register (of course also against prepayment penalty).
According to the notary, this right only exists in case of sale but not in case of a gift.
Normally, real estate transfer tax is due on a sale, which is why the tax office has an interest that properties are sold at "market price" (sometimes significantly higher than the standard land value) and can set this for taxation if necessary. Here, however, the sale is in a direct line, so no real estate transfer tax is due. Possibly, the tax office could apply the market value for possible gift tax if the property is worth more than €400,000 and the purchase price is €1. Something in between could be declared a "partial gift."
Options for the OP if the property should exceed €400,000: lower the price of the property due to negative features and document these in the purchase contract (i.e., market value less XX due to noise, YY due to small building area, ZZ due to annoying neighbor).
The property is well below €400,000.
I quote the notary's statement: The financing insurer will probably also refuse to terminate the financing (against prepayment penalty), since a sale below market value would be a sham transaction... and we generally only carry out the sale to end the loan agreement.
In fact, I want to build but cannot get financing as long as the financier is the first entry in the land register.
How long has the loan existed? There is also the possibility of termination after 10 years with 6 months' notice (without prepayment penalty).
Unfortunately, the possibility of termination does not exist.