[USER]

My parents are on their 70s and are wondering about investing in real estate overseas- they are in South America and worry about the political instability and future of their country, so they are considering selling most of their assets and investing elsewhere.

Both adult children have European citizenship and the parents will, too, soon.

Is it possible to buy property in Europe (Portugal or Spain preferred) in a way that it can be then transferred to descendants? Any ideas?

[Barb]

Not enough information, most important which countries inheritance laws will be applicable.

Anyway, in Europe, probably they shouldn’t buy the properties in their name now in the first place, the kids should Already own them and they write down with a notary that the income of the property goes to the parents as long as they are still alive.

[Carrie]

You would probably need to find the property in the county you would like to buy in. Then check with their legal system to find out how estates work.

In the US different states have different rules.

Don’t miss: Would it make sense to purchase property with the sole intent of renting it to others?

[Henrik]

Consider the property taxes as part of the decision making, it varies between the different countries.

[J.C.]

Can’t speak for Spain or Portugal, but we own a place in central Mexico and had a lawyer down there draw up a will for us that passes the property over to our two daughters after we’re gone. Seems legit.

[Author]

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