Real estate donation
Hi, We own a house in Brussels and are considering 'gifting / donating' to our two children.
Anybody familiar with the procedure? i understand it takes 3 years to complete. Not sure about payments and whether this also is in two stages.
appreciate any advice.
BTW we all live abroad.
This is a good notary to contact. They are specialists in tax, gifting and overseas clients. https://www.berquinnotarissen.be/en/home-en/
You cannot do this without involving a notaire, so speak with one now.
As well as speaking with a notaire in Belgium, you should absolutely also speak with a tax advisor in wherever you and your children live. Gifting the house to them could easily incur significant taxes (at the time of the donation, or later when they come to sell it) in the country where they are resident.
You need to balance that against the amount of inheritance taxes you would be required to pay in Belgium.
As none of you are apparently resident in Belgium, this could be significantly more complicated than you expect. See some other answers here: