Real-estate Transactions
You should invest in land, production stopped long ago and demand keeps growing.
In one of his movies, Woodie Ellen gets this message from his grandfather. In Israel it is the absolute truth. On the one hand the population keeps growing much faster than anywhere in the Western world and on the other hand, land is very limited. The demand for apartments and any other real-estate is strong and supply is hardly ever fulfilled, therefore prices keeps going up nearly at any place and time.The tax implications in real-estate transactions are very complex and controlled by different authorities, under different legal obligations. The tax authority, deals with betterment tax. The municipality deals with levies that were implemented (road, sewerage, sidewalks, etc.). The committee for planning and building deals with improvement levies.
One can handle the demands from each authority in different ways, therefore real-estate tax implications, is one of the most complicated and complex in the Israeli legal system. Wide knowledge and experience on these issues should be used already at the negotiation stage and while fulfilling the contract. Naturally assets that were abandoned for a long time and were returned to the rightful heirs, are subject to all the above-mentioned taxes. Therefore careful assessment of the taxes to be implemented and the ability to lower it, is important in the field of property restitution. Advocate Dor Levi Started his legal career with complicated real-estate transections, while he was working at Razumov Law firm. Since than he represented clients in hundreds of transections, representing either the seller or the buyer, with apartments, commercial real-estate and land, while keeping clients discretion, paying minimum taxes and protecting the client’s interests. Accompanying clients in real-estate transactions is one of our main fields of expertise.
