Dissolution of Joint Property Ownership in Spain
This is the discussion thread for the article Dissolution of Joint Property Ownership in Spain
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Hi, I'm divorcing my husband and are in the process of transfering the property into my sole name. My solicitor says I have to pay 7% transfer tax. Is this true? Your article says it's only 1%.
Dissolution of Joint Property Ownership in Spain
ey!!!
Que cambio de imagen!muy bonito.
Congrats!
Dissolution of Joint Property Ownership in Spain
We are non-resident and I bought a property in Spain with money I had from the sale of a house I owned alone in England. However, we bought the Spanish house in my and my husband's names thinking it was like the UK. Then my husband was seriously ill and as I am also younger we have considered putting the house in just my name so that our adult children won't be liable for IHT that they can't afford should only one of us die (I appreciate I could go under a bus but we were looking at most likely outcome!). Obviously would not plan to "pay" my husband. So is it 1% or 7%? I can show the money was originally mine in the UK, does this help?
Dissolution of Joint Property Ownership in Spain
Hi I have to comment on your postive responses as i have been struggling and getting responses from other that i have to pay all the ridiculus charges discussed above. my situation is that i have purchased a home in spain and have part of the mortgae outstanding (140e) and my husband and my names are both on the deed and mortgage. i have paid all expenses including the mortage for the last 2and half years as my husband has no work and also got himself into bad debt trying to venture to set up his own company. the problem now is thatmy current bank is refusing to change my mortage it is around 1000 euros for 140k loan and repayment one. refusing to give me interest only. hard to sell property unless i sell it at a loss. i have already invested a 100 euros in it. i also belive it may not be valued at what i bought it for. I have manged to find an english lender with a great mortgage deal on interest only but as my husbands name is on it they want give it to me untill i remove his name. due to his credit history being poor. to take his name off sounds like an expensive exercise and again more expenses for me.he is very willing to give up his name /rights and not looking for anything as the proeprty was bought by me for our little girl as an investment from my savings anyway. i have said this to the bankbut they want have it. switching bank is going to cost me money and will also have to pay my bank for giving up the mortgage . so i am in catch 22 situation . surely there must be an easy way of taking a name of .Spainish law seems to want taxes for everything sorry to say this. i have already paid and not made a penny . help please. thanks
Dissolution of Joint Property Ownership in Spain
Bought a house in spain in joint names with my wife in 1983. We divorced in england 1989 with clean break settllement with my wife giving up her share in the house in Spain. The house is still registard in both names. I wish to sell the property and my ex agrees to give me power of attorney to sell her half. If I should die before this happens I can see all sorts of problems arising.
I was told years ago by a spanish abogado that there was no need to change anything as since Spain joined the EEC English divorce papers were reconised. The agent tells me I need to change it officialy, but my concern with that is, will I lose the benifits of nil capital gains tax as it was bought before 1986 and not having to leave 3% holding fee. Also would there be charges, by changing it into my name only via the divorce papers other than legal fees?
Dissolution of Joint Property Ownership in Spain
My mother bought an apartment in spain with her partner 7 years ago, he died 5 years ago. In his will he left his share to her, but nothing has been done officially to change the ownership. She may need to sell the apartment in the next two years. Should she change the deeds/ownership to her name before she sells, and if so how much tax would she have to pay? Or should she wait until she sells? what tax would she be liable for then?
Thank you for yur help in this