Movable property when selling a house.
When listing a purchase price for movable property, it is important that the purchase price represents the fair value of the movable property in question and that the purchase price is specified per property (i.e. per item !). We sometimes see that a total amount is taken for the entire household effects or that a price is specified for the movable property per room (eg living room: US$ ***, bedroom 1: US$ ***, etc.). Legally purer is, however, if it is done item by item. The basis for this is the following.
The buyer only pays transfer tax on the purchase price / value of the immovable property. The tax authorities (read: inspector) are of course aware that this tax could be reduced in an artificial way, by making part of the purchase price “movable”. All notarial deeds must be registered with the inspector by law. The inspector can therefore see exactly what has been sold, at what price and what transfer tax has been levied on. If the inspector is of the opinion that the transfer tax has not been determined objectively (e.g. there is no clear specification of the value for the movable property) and that the amount has therefore been levied too low, he has the legal authority to additional tax assessment and a fine.
The transfer tax is due on the notarial deed. So if the inspector imposes an additional assessment and a fine, he does so at the notary. A notary is of course not waiting for that.
In other words, to avoid an additional assessment and a tax penalty, the determination of the purchase price for the movable property must be a realistic and clearly specified amount.
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