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Old 05.05.2020, 11:19
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Real Estate title question

If my husband and I bought a home here (we are dual Cdn./Swiss citizens) for our retirement living, could we put it in our daughter's name? (also dual citizen, living in Canada). What would the pros/cons of this if it was possible. Thank you.
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Old 05.05.2020, 11:42
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Re: Real Estate title question

You can put it in whoever's name that you wish, assuming no mortgage.

Tom
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Old 05.05.2020, 11:45
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Re: Real Estate title question

It is considered a gift. There might be a gift tax in Canada. (AFAIK there is none in Switzerland as she resides abroad)

She might sell the house and you can no longer use it. To prevent this add a
right of residence into the building register. It does not prevent the sale, put you would still have a right to live there and because of this it is not easy to sell.

She might kick you out and use it for herself, rent it out. To prevent this add a right of residence into the building register.

She might charge you rent but does not invest anything it into maintenance.

Depending on canton she has to pay real estate tax (up to 0.3% of the value). If she does not pay the house might be sold to the highest bidder.

If the house is financed by a mortgage, the mortgage would also be transferred on her. If she does not pay the interest the house might be sold to the highest bidder.
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