Donation of properties
What is a donation? In a legal sense, it is an act of liberality by which one person transfers one thing to another person and the second accepts it without giving anything in return.
Who can make a donation: In accordance with article 624 of the Civil Code, donations may be made by anyone who has the right to dispose of their property.
Who can accept a donation: Anyone who is not restricted by law to do so can accept donations. It is also possible to make a donation to conceived unborn children that can be accepted by the people who would represent them once they were born.
What can I donate: Only existing assets that the donor has at the time of donation can be donated, therefore, no future, undisclosed or indeterminate assets can be donated. There is another limitation, the donor must reserve sufficient assets to maintain a standard of living to which they are accustomed.
A donation only becomes contractually binding once it has been accepted by the recipient.
In the case of property, validity of the donation must be made in a public deed (before a notary). The donated property must be clearly indicated and any outstanding charges must be agreed on with the recipient. Our lawyers will assist you in requesting an appointment at the notary, as well as processing all the necessary documentation to make the donation.
Once the donation document is signed before the notary, our lawyers are responsible for payment of the corresponding taxes and submission of documentation to the property registry to perform the change of ownership of the property that is being donated.