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Re-registering a pledged property

To transfer the title to real estate, first and foremost, one must repay the creditors and release encumbrance of the property. Further, in writing, to conclude a purchase and sales contract or a deed of gift, and then perform state registration of the contract with the territorial authority of justice. It is best to execute the contract of sale (donation) at a notary public, in this regard to clarify the amount of expenses you need to go to a notary public.

With regard to mandatory payments to the budget, in accordance with the Tax Code of the Republic of Kazakhstan a fee is levied upon registration of title to real estate, in your case at the rate of 0.5 of the monthly calculation index, established by law on the national budget and in effect as of the date of payment of fees (in 2011 the monthly calculation index is 1,512 tenge). We also notify you that the Tax Code does not provide for taxation on apartment purchase by a natural person; however, after emergence of your ownership right to the property you become obligated to pay taxes stipulated by the Tax Code of RK.

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