In This Edition
- Welcome
- Featured Article – Off-the-Shelf Rental Agreements -
A Landlord’s Perspective
- Tip of the Month – Rental Security
- Legal Vocabulary – 'Tzav Pinui' (Eviction Order)
- 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.
Wishing all our friends and clients a Shana Tova U'Metuka - a Good and Sweet New Year.
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6 Critical Questions to Ask When
Selling an Apartment in Israel
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You have decided that the time has come for you to sell your apartment or house in Israel. Whether it's your primary home or a real estate investment, there are some important questions you need to ask your real estate attorney before moving forward with the deal.
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Will I need to pay any Capital Gains Tax on the sale?
The answer to this is possibly. All real estate transactions must be reported to the tax authorities and sellers may be liable to pay Capital Gains Tax (CGT, called mas shevach in Hebrew).
The reason that this answer is not a simple yes or no is that this area of the law is very complex and each situation must be examined individually. Here are a few examples:
Example 1: The sale is of a residential apartment and this is the only apartment owned by the seller. The seller has not sold another apartment in the last 18 months for which he claimed an exemption from Capital Gains Tax.
In this case the seller can claim an exemption from CGT.
Example 2: The seller owns more that one apartment and he has not sold another apartment in the last 4 years with an exemption from Capital Gains Tax...
Read the complete article on our website.
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Tip of the Month
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If you get a large bill for real estate taxes concerning your property consult with a real estate attorney. Very often the tax authorities made a mistake or there is room for error in the the calculation. If your attorney speaks with the clerks at the tax office or puts in an appeal the tax can be reduced considerably.
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Legal Vocabulary
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'Hasaga' (Objection)
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This is an appeal that you can submit to a higher authority within the tax office to review the tax that is demanded of you in a real estate transaction. If you are not satisfied with their decision in the "hasaga" you can submit an appeal ("Irur" in Hebrew) to the court.
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Subscription Information
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For Further Information
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Additional information can be found at:
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Further interesting articles can be found at:
http://www.levinlawoffices.co.il/articles.shtml
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