Donation due to death

Συμβολαιογραφικές & Νομικές Υπηρεσίες

 

By the donation due to death act a donor provides a property object to the donation recipient without consideration, under the overturning condition for the donor to decease or both donor and donation recipient to decease – a case in which the rights of the donation recipient are transferred to his heirs. Until the fulfilment of the overturning condition the donation recipient does not have the right to enjoy the object of the donation, the owner of which remains the donor. Therefore, this is an act that is established in life, but its results come about following the death of the donor.

To establish a donation due to death requires a contract between the parties, which must be done using a notary deed, which is then transcribed in the competent Land Registry or recorded in the competent  Cadastral Office.

Taxation of donation due to death:
The donation due to death is not taxed directly during the time of its establishment, but the time of taxation thereof is deferred and it is taxed at the time of death of the donor and always in accordance with applicable tax provisions each time.

Usual documents required:

Tax clearance of the donor.
• Social security clearance for the donor by the competent I.K.A. service,

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