Changing land title to a new person, procedure and cost?

O

Hi all, Just wondering if any of you had the experience of transferring a land title to a new person. I am aware that the nominee structure is a legal loophole and not necessary a solid one. But I can live with it. What I wanted to know is if the only way to transfer the title is to do a new jual/beli act? That's an expensive process as I would have to pay taxes for both sides based on the valuation of the land and villa. Any suggestions welcome :) Cheers

Mark

Your best bet is to speak to a notary. However, it seems unlikely that the government would process the change in title and issue a new certificate if the transfer taxes aren't paid. Otherwise, there would be even more tax avoidance shenanigans every time a property was bought or sold.

Markit

Keep the present owner as your nominee and have him contractually secure your "deed" with a 80 year leasehold contract.

O

Thanks for the feedback guys, I am actually gearing towards Markit advice which is pretty much a nominee's agreement, at least part of it

Markit

O wrote Thanks for the feedback guys, I am actually gearing towards Markit advice which is pretty much a nominee's agreement, at least part of it

In all honesty I haven't seen anyone do what I preach but it does seem the most logical and simple way of doing the deal. Your only issue will be with the nominee's behavior, but if he's already been doing that then his track history will be available from the previous "owner". Please let us know how you get on.