Search Q&A
Relatives financing proprty in Belgium and inheritance
If say my uncle buys a property in Belgium; Am I right that when he dies, it well then be inherited according to Belgian inheritance rules (While assets in his home country are inherited according to the rues of that country).
Then how would we set it up if we want him to put in for example €50.000- in a house? It would only be part of the capital, and we would like loans "on top of it" in "our name".
Any reasons such a scheme would not be so smart?
While the broad principle of what you say about inheritance is probably correct, there are a lot of reasons why such a scheme might not be too smart and tax probably takes the first few places on the list.
You MUST talk through very carefully what you propose to do with a notaire/notaris and heed their advice, they will have to draw up any paperwork anyway.
It is apparently becoming quite common for parents to take an actual share in the ownership when one of their children first acquires a house, largely because mortgage providers are becoming less keen to accept guarantors, so a notaire/notaris should be familiar with the issues involved even though an uncle is potentially very different to a parent because of Belgian inheritance and inheritance tax rules. The situation may be untenable if the uncle has ANY children of his own.
Agree. You need someone with detailed knowledge of Belgian inheritance law to guide you before you can consider such a scheme.
You should find that a good number of Notaires who can help you speak excellent English.
http://www.notaire.be/
