Israel real estate lawyer – Zeev Orzel Attorneys at law have been representing homeowners and home sellers for over 35 years all over Israel. The firms’ practice includes legal services to private clients as well as companies. A high standard of service as well as professional experience have been a benchmark of the varied legal services offered by the firm.
The firm has great experience in various land transactions including purchase and selling of first-hand and second-hand real estate. Special legal expertise is offered regarding the different intricacies with respect to Tax Law such as betterment levy, sale tax, property tax and purchase tax. With a firm understanding and first-hand knowledge of the real estate market in Israel, the firm assures the best outcome for the client both from a legal and financial point of view.
The firm conducts negotiations with attorneys of the other party by practicing professional negotiation techniques, this in order to attain the goals set by his clients in the minimal amount of time possible. This aspect of legal expertise is beneficial for both sides in reaching an agreed-upon contract as quickly and efficiently as possible.
Unlike the US market and others in the world the procedures of a real estate deal in Israel require legal counsel. Real estate agents, realtors and such play a minimal role in the transaction acting only as a middle man. One has to be careful when approaching a deal from an agent. The reason for that is the agent bares no responsibility regarding the deal or property. From a legal stand point, real estate agents in Israel are not qualified to assess the legal situation of a property, nor the tax considerations and any other risks a professional real estate lawyer in Israel can. That is why it is of the utmost importance to acquire the services of a professional attorney with real estate expertise with no ties to the real estate agent to truly serve the best interest of the client. In short, the agent just wants to close the deal while the lawyer tried his best to protect the client for there are many pitfalls in the real estate business.
Israel real estate lawyer – commonly asked question regarding a real estate deal in Israel
Regardless of where you reside, you do not have to be in Israel in order to enter a real estate transaction. You may appoint a licensed Israeli lawyer to handle the sale. A special Power of Attorney can be signed at the Israeli Consulate or before a Notary Public, and then the Notary’s certificate should be certified by the competent Apostille authority in your country. According to international law, documents with Apostille certificate are valid in Israel.
In case you changed your name or your passport number changed
This is usually the case when the purchase was long ago and your personal identity information has changed. In case you have property assigned to your name in the land registrar office you should apply for a name/passport number modification. This is done by a qualified attorney and is a routine request. The necessary additional documents for this procedure are an affidavit signed by you and by the attorney and the updated documents such as the passport. In certain cases one should also provide proofs of purchasing the property, like original land purchase contract, the deed of sale or other documents related to the purchase of the property. An Israel real estate lawyer farmiliar with the land registration rules and regulation in this matter can help you.
Providing proof of land ownership can be a long process at times. First you should find where your property is registered. There are several government offices that handle the land registration of real estate properties in Israel depending on the county. Most of the land registration is handled by the Land Registration Office, (aka Tabu). Some of the land registration is handled by the Israel Land Administration, by developing companies that act as an official registration office, until official registration process completed.
In case your property is registered at the Land Registration Office, it is possible to view the extract of registration from the official Land registrar website. In all other cases, you should apply in writing to the body that handles the registration.
Tax consideration in a real estate deal in Israel
A good Israel real estate lawyer should advise yo of the tax considerations of any real estate deal. In general there are several types of taxes when a person sells real estate property in Israel. The major types are:
- Capital Gain Tax (in Hebrew: Mas Shevach).This is actually a tax the seller pays the government and applies only if profit has been gained. For example: if one bought a house for 1,000,000 NIS and sold it years later for 2,000,000 NIS then he made a profit ergo should pay tax. In case you don’t actually own an apartment in your country of residence, it may be possible to receive tax exemption for this kind of tax, (Applies only to houses and apartments).
- Improvement Tax (in Hebrew: Heitel Hashbacha) is a fee paid to the municipal authority. The toll is determined by an appraiser of the municipality, and you have the right to object it by presenting an opposing appraisal. Not every deal obligates this tax, nevertheless, one should be aware of it since it can be a hefty sum at times.
- Property tax (in Hebrew: Mas rechush) was cancelled in 2000 but the government still collects old debts. This is why if a property was purchased before 2000 and this annual tax was not paid there could be a problem with obtaining the tax authorities approval for a deal thus preventing its completion.
When a person buys property there is a purchase tax that varies between 0%-10% depending on the kind of property and the sum.
Tax considerations are crucial when entering a real estate deal. That is why a professional real estate lawyer in Israel can save you enormous amounts of money and legal issues.
Israel real estate lawyer