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I heard from an expat local that one major issue is that there's no inheritance tax on property, so many buildings get passed down to a few children who can't a
by etrautmann 2y ago
I heard from an expat local that one major issue is that there's no inheritance tax on property, so many buildings get passed down to a few children who can't agree what to do with it and don't have money for upkeep. Those buildings will sit idle since there's no cost to leaving it, which becomes the default option.
- gpjt 2y agoExpat here -- yes, that's a real problem. There are even well-located commercial buildings in central Lisbon that are decaying while things like that are sorted out. I honestly don't know why they don't do short-term (as in, three year or so lease) rentals while things are sorted out. Perhaps protections (regulatory or customary) in commercial leases that make it hard to get people out once an agreement has been reached between the heirs?