Property Transfer fees are imposed by the Department of Land and Surveys in order to transfer ownership of preoperty to the name of the purchaser. The transfer fees are due for payment when the transfer of the title deed in the name of the purchaser takes place. The Purchaser is solely responsible for the payment of the transfer fees.
The ratesfor transfers of immovable property are on a graduated scale
are as follows:
[fancy_table]
| Value | Rate | Fee | Accumalated |
|---|---|---|---|
| € | % | € | € |
| Up to 85.430 | 3% | €2.563 | €2.563 |
| 85.431 – 170.860 | 5% | € 4.272 | €6.835 |
| Over 170.860 8 | 8% |
[/fancy_table]
If the property is in joint names e.g. of a couple (husband and wife) or two individuals, then the purchase value is divided into two parts which results in reduced transfer fees.
Example
For a property purchased for €200.000 in one name, the fees payable are approximately €9.166
[fancy_table]
| Value | Rate | Fee | Accumalated |
|---|---|---|---|
| € | % | € | € |
| Up to 85.430 | 3% | €2.563 | €2.563 |
| 85.431 – 170.860 | 5% | €4.272 | €6.835 |
| The remaining €29.140 | 8% | €2.331 | €9.166 |
[/fancy_table]
For property purchased for €200.000 in the names of two persons, the fees payable are apoproximately € 6.582.
[fancy_table]
| Value | Rate | Fee | Accumalated |
|---|---|---|---|
| € | % | € | € |
| First 85.430 (share of wife) |
3% | €2.563 | €2.563 |
| Second 85.430 (share of husband) |
2% | €2.563 | €5.126 |
| Balance €29.140/2 = €14.570 |
5% | €728 | €5.854 |
| Balance €29.140/2 = €14.570 |
5% | €728 | €6.582 |
[/fancy_table]
In the case of property transferred to a family company, transfer fees are refundable after five years if the property remains with the company and the shareholders remain the same.
In the case of property transferred from a company whose shareholders are spouses and/or their children, to one of the two spouses, or their children or to a relative up to third degree of relation the transfer fees are calculated on the value of the property as follows:
- if the transfer is to a spouse – 8%
- if the transfer is to a child – 4%
- if the transfer is to a relative – 8%
Transfers by way of gift
Also the following rates are applicable in the case of free transfers:
- from parents to children – 4%
- between spouses – 8%
- between third degree relatives – 8%
- to trustees €8,54
The above rates apply to the value of the Property as assessed on the 01.01.1980.
Mortgage registration fees
Mortgage registration fees are 1% of the current market value.
In the case of companies’ reorganizations, transfers of immovable property are not subject to transfer fees or mortgage registration fees.
The above should be used as a source of general information only. It is not intended to give a definitive statement of the law and is subject to the disclaimer.
