Belgium is a nation of homeowners: nearly 3/4 of the inhabitants of the flat country own at least one property.
The trend looks set to continue, and many young people decide to buy as a couple, often before getting married. For those in this situation, there is good news: matrimonial property law has just introduced a new rule to simplify these purchases.
A couple can now make an advance contribution of the purchased property to their joint estate, thereby avoiding additional notary fees associated with a marriage contract. This means visiting the Notary only once instead of twice!
In practical terms:
A couple purchasing in equal shares and with full ownership may include an advance contribution clause in the authentic deed at the time of purchase. This means that, as soon as the couple marries, the property will automatically become jointly owned… without having to return to the notary.
Estimated saving?
You will therefore save approximately 900€ in notary fees.
Joint estate | The advantage
If the property has become part of the joint estate, less inheritance tax will be payable if one of the partners dies.
Joint estate | The disadvantage
If one of the partners has creditors, they may pursue the other partner’s share; remaining in co-ownership is probably preferable in this case.
J&J Properties
A question or a property project?
Our team supports you from advice to signing.
