Q: Hi, my father, an Israeli citizen living abroad is planning to use his funds to buy an apartment for myself and my sisters in or around Tel Aviv. My status in Israel is ezrach oleh as I made aliyah in January 08. Would purchasing an apartment under his name, or mine name have any difference as to what discounts the government give. Also, can you suggest any suitable affordable neighborhood in/around Tel Aviv for young 21-24 working people.
A: If your dad has NEVER owned any home in Israel, he might have some small rights as a first time buyer. You on the other hand, have MORE rights as an olah chadasha. You are entitled to a small subsidized olah mortgage, plus a significant discount on the one-time purchase tax called mas Rechisha. It sounds to me like it would be best to be under yourname. Probably, the ownership should be in one of your names, not in multiple names,,,
