Real Estate

Zilca Law Firm provides legal services in the field of real estate law. The firm specializes in real estate transactions and represents purchasers and sellers of first hand, second hand and commercial and private real estate properties.

Our firm provides comprehensive legal advice, from examining the feasibility of the transaction, conducting negotiations, checking the legal status of the property until the registration of the rights.

Acquirer sells property

One of the most important and complex decisions in our lives is buying and selling a residential apartment. From nature and nature, is a complex transaction that requires legal examination of the apartment that buyers or sellers. There are many tests to be performed before entering into a transaction – a planning test, an examination of the levies and taxes, and various examinations regarding the transaction and the asset – checking the identity of the owner of the property, The Housing Authority and the Israel Land Administration, and other examinations.

The matter of taxation is of high importance and it is necessary to examine which taxes and levies apply specifically to the customer and the asset, or if there is an exemption.

There are many risks inherent in real estate transactions, so it is advisable to hire the services of a knowledgeable lawyer in the field of real estate.

Our firm also provides services in matters of: liquidation of real estate, representation in the purchase of an apartment from a contractor. (Leasing company, Tabu, Israel Land Administration), registration of condominiums, amendment of the registration order of a condominium.

Tips on buying an apartment

In order to reduce the risk of purchasing an apartment, it is important that the purchaser check a number of things prior to his decision and the following are some gold rules for a safer purchase. We emphasize that the recommendations are not a substitute for legal advice and / or recommendation and / or legal opinions and reliance on the information is the responsibility of the user only.

Check the environment of the property – check the existence of adequate infrastructure, such as educational institutions, culture and the like in the area, location of cellular antennas near the property that may affect your decision to choose the property and even the price.
Check the property – Visit the property, check for physical defects, cracks, serious explosions, decay, pressure of the water system, electrical panel (single / three phase) Ask about the sewage system Is known about fillings, illegal construction in the property – it is recommended to contact the municipality to issue a building file and compare To the existing situation and even be assisted by a building engineer or a professional in the field.
Legal examinations – It is important to hire the services of a knowledgeable lawyer in the field, both from the complexities of purchase and sale tax and exemptions to the customer, which can have a critical impact on the transaction, as well as legal examinations necessary for the acquisition:
A. Examination of the identity of the owner of the apartment – whether the seller is a private person or a company.

B. Examination of the type of ownership – ownership, lease or lease for generations, or holder of a contractual right.

third. Where the apartment is registered – the Land Registry Office (Tabu), the Israel Lands Administration or a mortgage company – which may affect the purchase and impose additional financial costs.

D. Checking foreclosures, liens, and the like. It is necessary to check whether there are warning notes about the apartment, what they mean, whether there are foreclosures or mortgage on the rights of the seller.

God. Administrative examination of the property – whether there are demolition orders or injunctions.

and. Examination of rights in a condominium, attachment to an apartment in a residential building – a warehouse, a roof, a balcony, examination of the communal property and the tenant agreement in the building (payments to the committee,

The apartment you want to purchase may be defined as a warehouse in a single registry, and an apartment in another registry – that is, there may also be incompatibility between the different prescriptions For that property.

G. Examining the city building file and adapting building permits to the actual location.

Tax aspects – Examine eligibility for a purchase tax exemption, it is important to make accurate tax planning.
Mortgage – Contact your bank to check the financing options available to you.
Signature of memory – the memory of things is a contract for everything and legally binding. It is recommended not to sign a memorandum but to seek the services of an attorney specializing in representation or at least consult with an attorney before signing the memorandum.

Giving an apartment as a gift to a family member – important points

Many parents who are still alive wish to give an apartment they own to their children. The Land Taxation Law (Recognition and Acquisition), 5723-1963 (hereinafter: the “Land Taxation Law”) provides, among other things, that an exemption from betterment tax will be granted in granting the apartment as a gift to “near” and yet contains a number of traps, .

In a regular sale of a residential apartment, a real estate tax law applies that obligates the seller to pay betterment tax and the buyer must pay purchase tax. The taxes imposed by virtue of the Land Taxation Law in a free transfer (granting an apartment as a gift) are different and it is important to understand them prior to the transfer.

The Land Taxation Law defined who is “close” in a different manner with regard to taxes in the transfer without consideration. “Relative” to the purpose of purchase tax – defined in the law – as a spouse, parent, parents of a parent, descendant, descendents of a spouse and the spouses of each of these, brother or sister and their spouse and union under his control. On the other hand, a “relative” for the purpose of land betterment tax is defined in the law – as a spouse, parent, parents of a parent, descendant, descendant of a spouse and the spouse of each of the above. Note that brother and sister, unlike the purchase tax, will be considered “close” only for the right they received from a parent or parent parents for no consideration or inheritance.

Article 62 of the Land Tax Law provides that a transfer without compensation from an individual to his relative will be exempt from tax. Regarding purchase tax, it is important to distinguish between transfer and close to transfer to the spouse who are also exempt from tax The purchase provided that the couple lives together in the same apartment.

Therefore, granting an apartment as a gift to the “relative” exempts the gift recipient from payment of betterment tax and obligates the recipient of the gift a third of the purchase tax, unless the transfer is between spouses living in the transferred apartment as a gift.

A cooling-off period – not yet granted an apartment for no consideration, one should note the cooling-off periods existing in the Land Taxation Law. The recipient of an apartment as a gift may sell it at any time, but if he wishes to enjoy the tax benefits prescribed by law, he must wait several years before selling. The recipient will have to wait 3 years if he lives in an apartment that he has received as a gift on a regular basis or for 4 years if he does not live in the apartment.

In addition, the recipient of the gift enters the shoes of the gift provider for the benefit tax, so that on the day the gift recipient sells the apartment, the betterment tax will be calculated as if the gift provider sells the apartment.

Mediation fees – the broker’s debts and his entitlement to brokerage fees

Property owners who use real estate brokerage services for sale or rental of their properties.

The Real Estate Brokers Law, 5756-1996, provides that the broker is entitled to brokerage fees when several conditions are fulfilled: (1) to the broker of a valid mediation license; (2) the broker has signed the customer for an order for brokerage services. 3) The brokerage services include all the following details: names, The broker and the customer; Type of transaction – For sale / Rent; Description of the asset for sale / rent; The amount of the brokerage fees or the percentage of brokerage fees determined by the parties, and the exclusion of one of the above details may negate the broker’s entitlement to receive the brokerage fees.

In many cases, the real estate agent will claim exclusivity in marketing and selling the property. The Realtors Law provides that in order for the broker to enjoy exclusivity on the sale / rental of the property, he must sign the customer’s separate document stating the granting of the exclusivity. During this period, the broker must perform at least two marketing activities from a number of marketing activities existing in the market: signage advertising; Advertising among a specific customer audience; Advertising in at least one common daily newspaper; Advertising in a local newspaper or newspaper intended for a specific target audience at the customer’s choice; Inviting potential buyers / tenants to visit the property or invite at least 5 brokers for cooperation.

Exclusivity periods are limited in time and in an asset other than a residential apartment. The maximum exclusivity period shall be one year. When it comes to a residential apartment, the maximum period of exclusivity will be only six months. The exclusivity period will be determined in the exclusivity agreement between the broker and the customer. If the exclusivity document does not specify an exclusivity period for an asset that is a residential apartment, the exclusivity period shall terminate within 30 days of the signing of the order.

The broker’s entitlement to brokerage fees will be revoked even when the intermediary does legal acts, as a representation in negotiations.

(3) The broker was the effective party that led to the parties entering into a binding agreement. (There are many judgments that deny entitlement to brokerage fees when the intermediary was not the effective cause of the engagement).

To arrange a free introductory meeting, please contact Zilca Law Offices. Mobile Phone: 0522944429

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