Gift & Property Transfers

Transferring property within a family looks simple and often is not. A gift of land requires notarisation and registration, may trigger tax, and can affect the rights of other heirs later.

Wise Counsel advises families on transferring property between generations lawfully, with the tax position and the effect on inheritance considered together.

What we help with

• Advising on whether a gift, sale or inheritance is the better route
• Preparing gift contracts and arranging notarisation
• Advising on exemptions from personal income tax and registration fee between close relatives
• Registering the transfer and issuing the updated certificate
• Advising on the effect of a lifetime gift on the estate and other heirs
• Transfers involving a minor or a person lacking capacity
• Conditional gifts and gifts with a retained right of use
• Advising where the property is jointly owned or is marital property

Transfers between close relatives are often exempt from tax, but only if the relationship and the documentation are correct. We confirm both before filing.