How to change the name of a relative's house after buying it
In recent years, with the active real estate market, real estate transactions between relatives have gradually increased. Buying a relative's house not only involves financial issues, but also requires complicated name change procedures. This article will analyze in detail the process, precautions and related data of changing the name of a relative's house to help you successfully complete the transaction.
1. The basic process of buying a relative’s house and changing its name
Buying a relative's house is similar to other real estate transactions, but when a relationship is involved, additional documentation may be required. The following is the basic process for renaming:
| steps | Specific content |
|---|---|
| 1. Sign a sales contract | Sign a formal house sales contract with relatives, clarifying the price, payment method and other terms. |
| 2. Notarization | Some cities require real estate transactions between relatives to be notarized to prove the authenticity of the transaction. |
| 3. Pay taxes and fees | Pay deed tax, personal income tax, etc. according to local policies. |
| 4. Handle transfer of ownership | Bring relevant materials to the real estate registration center to handle transfer procedures. |
| 5. Get a new certificate | After the transfer is completed, receive a new real estate title certificate. |
2. Things to note when buying a relative’s house and renaming it
When changing the name of a property between relatives, special attention should be paid to the following points:
1.Price Reasonability: When the transaction price between relatives is significantly lower than the market price, the tax department may determine the tax payment.
2.Tax calculation: Different regions have different tax policies, so you need to consult the relevant local departments in advance.
3.Proof of kinship: It is necessary to provide household registration book, marriage certificate and other materials proving kinship.
4.loan problem: If you need a loan to purchase, banks may be more strict about transactions between relatives.
3. Reference on taxes and fees for real estate transactions between relatives
The following is a reference table of common taxes and fees for real estate transactions between relatives (specifically subject to local policies):
| Tax type | Rate | Remarks |
|---|---|---|
| Deed tax | 1%-3% | Depends on area and whether it is the first home |
| personal income tax | 20% or 1% | The only exemption is for those over five years old |
| value added tax | 5.6% | Exemption for two years |
| Notary fees | 0.1%-0.3% | Some cities require |
4. Advantages and risks of real estate transactions between relatives
Advantages:
1. The transaction price may be lower than the market price.
2. High trust and smoother transaction process.
3. In some cases, intermediary fees can be saved.
Risks:
1. If the procedures are incomplete, property rights disputes may arise.
2. Improper handling of tax issues may result in back taxes or fines.
3. Family relationships may be affected by transaction issues.
5. How to avoid real estate transaction disputes between relatives
1.Sign a formal contract: Even if you are a relative, you should sign a formal sales contract.
2.Clarify payment method: It is recommended to transfer via bank and keep the transaction voucher.
3.Consult a professional: Consult a lawyer or real estate agent in advance to ensure compliance with the process.
4.Completed all procedures: Never omit necessary legal procedures because of family ties.
6. Recent hot real estate topics
According to the hot spot data on the entire network in the past 10 days, the following are high-profile topics related to real estate:
| topic | heat index |
|---|---|
| Mortgage interest rates cut | ★★★★★ |
| Property tax pilot expanded | ★★★★ |
| Simplified second-hand housing transaction process | ★★★ |
| Property tax among relatives | ★★★ |
Through the above content, I believe you have a clearer understanding of how to change the name of a relative's house when buying it. In actual operations, it is recommended to make flexible adjustments according to local policies and specific conditions to ensure that transactions are legal and compliant.
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