Buying or selling property in Israel can be fraught with problems. There are all sorts of obstacles that can cause you to stumble along the way, whether buying or selling. The problems you can encounter include the tax responsibilities, legal contracts, registration of bonds and the payment schedules you would be liable for as a buyer, or how you would be receiving payments as a seller.
All these potential pitfalls make it important that you retain the services of a legal professional with vast experience in real estate transactions, such as Amihai Zelcer of the Zelcer Law Firm.
Real Estate Tax Laws in Israel
The tax laws, with regard to property sales, relate to the purchase tax which has to be paid by the buyer and capital gains tax, which might have to be paid by the seller. Your legal professional will be able to advise you as to the amount of purchase tax you will have to pay when buying and the capital gains tax, if any, you will be liable to pay as a seller. The rules regarding purchase tax are straightforward, while the capital gains tax is a veritable minefield. The calculation of this tax is extremely complex and can involve both a husband and a wife as well as any other property owned by either of the spouses. The complexity of capital gains tax makes it essential to retain a savvy lawyer property sales to ensure that you don’t pay more tax than necessary.
The Zelcer Law Firm
The actual legal owner of many properties in Israel is a very grey area as a result of property registrations having been done under various jurisdictions. Before 1920, the property law was that of the Ottoman Empire; between 1920 and 1948, that of the British Mandatory Authority and after 1948, that of the State of Israel. It is essential to determine the legal property owner and the experienced Zelcer Law Firm will ensure that your best interests are looked after in this and all other respects relating to property sales.
Amihai Zelcer, the principal of the Zelcer Law Firm has personally been involved in property investment for many years, both locally and internationally. He is an expert lawyer in property sales; experienced, professional, committed and is the best in the field.
Call us today For more information +972-77-2200122