Published by carratelli4 years ago

In the case of minors, the rental agreement is signed by both parents, who exercise parental authority over the children...

In the case of minors, the rental agreement It is signed by both parents, who exercise parental authority over the children. For the purposes of direct taxes, then, the parents have thelegal usufruct on their children's assets and, therefore, will declare the income from the property in question in their tax return.

 

What is usufruct?

The younger son keeps bare ownership of the property while the parents benefit from it. However, parents have a fundamental obligation: the benefits deriving from the usufruct must be allocated to the family maintenance e all'instruction ed child education.

 

How is it done?

Let's see in detail what this procedure entails and the steps to follow. To proceed, you need: the authorization of the guardianship judgeThis is an extraordinary administration act in favor of the minor that can be requested directly from the notary or from the court.

Obviously, it's not possible to have the mortgage for the purchase of a house in the name of a minor, since banks require borrowers to be of legal age. The mortgage will therefore necessarily be in the parents' names, who, consequently, will not be able to deduct either the expenses or the interest.

 

What is it for? What are the benefits?

It is possible for parents take advantage of the benefits for purchasing your first home Even if they already own properties. This involves paying a reduced rate of 3% of the registration tax or VAT, which together allow for significant savings compared to those applicable for a second home. It should be noted that by registering full ownership in the name of a minor, the child will then be able to sell the home upon turning 18 without the parents being able to object. And, since the benefits can only be requested once for a single item, registering a property in the name of a minor will not allow them to be requested for another home in the future. Still on the subject of tax returns, it should be noted that until the owner reaches the age of majority, The parents will have usufruct of the property. What can't the guardian do without the authorization of the guardianship judge?

Purchase goods, except furniture necessary for the minor's use, for household economics and for the administration of the estate;
Collect capital, allow the cancellation of mortgages (the Judge's authorization is necessary since the cancellation of the mortgage follows a payment), unless these concern the expenses necessary for the maintenance of the minor;
Accept or renounce inheritances or gifts subject to conditions;
Entering into property leases more than one year after reaching the age of majority.

Carratelli

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