In This Edition
- Welcome
- Featured Article – 6 Real Estate Taxes You Need to
Know About
- Tip of the Month – Is your apartment built according
to the code?
- Legal Vocabulary – "Michzur Mashcanta" (Renegotiating
a mortgage)
- Subscription Information
- For Further Information
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Welcome to Israel Real Estate Law Insights
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Welcome to the latest issue of the Israel Real Estate Law Insights, published by
Nicole Levin Law Offices, experts in all aspects of real estate law in Israel.
You are receiving this newsletter because you signed up for it on our website or
because you filled out a form at a housing fair. Our newsletter focuses on the
legal aspects of buying, selling and renting property in Israel.
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6 Real Estate Taxes You Need
to Know About
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If you're involved in real estate transactions, whether buying, selling or renting, you need to know about any taxes you may be required to pay. Here's an overview of the main real estate taxes.
Capital Gains Tax (Mas Shevach)
If you're selling a house, apartment, land, store, office or any other real estate you may need to pay capital gains tax. This is a tax on any profits you make as a result of selling your property.
If you're selling land or commercial property you cannot claim an exemption from capital gains tax. However, if you're selling a residential apartment you may be exempt from paying capital gains tax under certain conditions. For example, you may be exempt if you used the apartment for residential purposes and have not sold an apartment during the last four years (if you own more than one apartment) or during the last 18 months (if this is your only apartment).
Before you sell an apartment it's prudent to consult with a real estate lawyer about your capital gains tax situation, including whether or not you are eligible for an exemption and...
Read the complete article in our articles section.
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Tip of the Month
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When purchasing an apartment it is important to get a professional to check whether or not the apartment is built according to the code. This will prevent unexpected expenses in the future and hassles with the municipality.
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Legal Vocabulary
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"Michzur Mashcanta" (Renegotiating a mortgage) - If you are unhappy with the terms of your mortgage you may be able to obtain another mortgage at better terms and pay back the old mortgage.
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Subscription Information
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For Further Information
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Additional information can be found at:
http://www.levinlawoffices.co.il/free.shtml
Further interesting articles can be found at:
(NOTE: New articles available!)
http://www.levinlawoffices.co.il/articles.shtml
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