PDA

View Full Version : Can a relative sell you their property BMV?



Unregistered
03-07-2009, 06:01 AM
I have a relative (Spanish born citizen) who bought a flat at a special rate mandated by the government for the elderly. For instance, the government mandates that 10% of flats be set aside for the elderly and those unable to afford housing (basically a government subsidy). Could he sell me the flat for any price he wished? Is there a law prohibiting the sale?

Basically the idea would be to purchase the flat so that it would not fall into spanish inheritance laws requiring at least 2/3 of the estate to go to the children.

My relative wants to leave the property to me and wants to avoid it going to his children. Would a sale make this possible?

Please help

Lawbird Lawyer
03-09-2009, 11:44 AM
Dear Sir/Madam,

You are referring to Government subsidized dwellings or V.P.O. as they are known in Spanish (Vivienda de Protección Oficial). The laws that govern this type of property vary depending on where the property is located and when it was purchased. It takes a case-by-case study to give an informed reply as the rules that govern them vary considerably i.e. some have a protection of 30 years, others only of 10 years.

Having said that, your relative can only sell the property at the price set by the Government, not as freehold. To sell it as feehold the legal protection timeframe to which they are constrained must have elapsed and additionally a special declassification procedure must be followed (which lasts over a year usually) to enable it to sell it as freehold for whichever price you deem fit.

Regarding your relative selling you this property there is no problem but always subject to the above.

Regarding buying properties BMV please read the following. (http://belegal.com/blog-by-antonio-flores/careful-with-the-tax-office-when-selling-or-buying-at-a-discounted-price/)