What is a donation?
Process in which a parents transfers money for free, relationship or kinship does not matter; they may hand over assets in quantities that do not affect their possibility of living a dignified life and cover their obligations.
When a donation is made that is over 50 legal minimum monthly salaries, a requirement called “donation insinuation” must be met.
- The person donating must be a legal, consenting adult.
- Identification documents of all interested parties.
- Written request about the person making the donation and who will receive it, this should be done before the notary public in the same city where the donor lives, with a certificate of commercial value of the property to be donated.
- Property title of the asset to be donated.
- Certificates of good standing.
- The person making the donation must prove that they have sufficient resources to live and tend to their obligations.
Frequently Asked Questions
Must donations that are less or equal to 50 legal minimum monthly salaries be reported to a notary?