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
Dissolution of Joint Property Ownership in Spain
I am selling my share of a spanish property to my ex-partner. Because of the fall in the property market the amount he is paying me is the same as we purchased the property for approx 4 years ago - based on valuations by local estate agents. Please can you confirm: 1. that I will therefore not have to pay 18% CGT as there is no gain, and the 3% will not be withheld, 2. will plusvalia tax still be payable, and 3. as the mortgage is only in his name will we have to pay fees for a new escritoria and should I have to pay for this or is it his cost?
If there are any other costs I should consider please could you advise what these would be.
Many thanks
Dissolution of Joint Property Ownership in Spain
hello,i have 5% of a villa and my friend had 95%,he recently passed away ,do i have to sell my villa or do i now own the whole villa,many thanks.
Dissolution of Joint Property Ownership in Spain
My ex-wife and I owned a property in Spain together. We have since divorced and she left her part of the house to me in the divorce settlement in exchange for a property in the UK which I bought for her. The deeds are still in both our names and when I saw a lawyer in Spain he said that we needed to pay about 8000 euros to transfer the deeds solely into my name. This seems an awful lot of money. This figure is based on a value of 400,000 euros but I think the house is now worth a lot less. Is there any way we can avoid paying this amount?
Dissolution of Joint Property Ownership in Spain
Can anyone put my mind at rest - I am in the middle of a rather nasty divorce & we jointly own a property in Spain, without a mortgage & both names on the deeds (we live in the UK). Can my husband have my name taken off without my knowledge? Please put my mind at rest someone & let me know................Many thanks
Dissolution of Joint Property Ownership in Spain
Hi,
My situation is the other way round. My partner has bout some land in Spain and signed the paperwork in his sole name. He has not yet paid the notary so we are keen to get it paid as the cost is increasing with interest being added. My partner would like to add my name to the paperwork so tha the land is jointly owned. Can you please advise how we would go about doing this.
Dissolution of Joint Property Ownership in Spain
Like the previous poster, we have a property in Spain which is in my husband's sole name. We would like to add my name to the deed. Are there any issues since he has owned this property for several years already? Thank you.
Dissolution of Joint Property Ownership in Spain
Hi
Me and my sister equally own an appartment in Majorca with no out standing morgage and we are both UK residents. My sister no longer wants to be on the deeds of the appartment and is will to sign full ownership over to me with no payment in exchange. What is the process to take her name off the deeds and what taxes/ fee are applicable. thank you for your assistance
Dissolution of Joint Property Ownership in Spain
Hi, Im separating from my husband and we own a house in Spain but are non residents I wish to keep my half of the house and my ex wishes to sell to my sister and husband. We owe no debt on the house. Could this not be a private exchange of money in England and just pay in Spain for name change on the deeds ?
Dissolution of Joint Property Ownership in Spain
My business partner and I own a property jointly in Spain (50/50) in our personal names but with the beneficial ownership in favour of our UK company, which in turn had borrowed the funds from another company to facilitate the purchase. Since the property was purchased in 2003 it is assumed that there has been a negligible change in value plus the original loan is still outstanding and therefore equivalent to the value of the property, hence there is no residual value (equity). It is intended that I sell my shares in the UK company to him (subject to UK CGT) to him and transfer the ownership of the property to him for no money (i.e. because there is no residual value above the outstanding mortgage). Am I correct in my understanding that we can do this through a dissolution of joint ownership with him paying the 1% stamp duty instead of the 7% transfer tax (both plus fees)? Because we have assumed no change in value and therefore no capital gain will I avoid Spanish CGT on my outgoing share in the property? It there anything else we should consider, other than ultimately taking specific legal advice? Thank you
Dissolution of Joint Property Ownership in Spain
I purchased a property (apartment) on the Costa Blanca for an investment and a holiday home, therefore I am a non resident in spain. I paid in full and all taxes/ bills etc myself and have no mortage. However, when I bought it I placed my partners name on the deeds thinking it was the right thing to do and be an investment to her if in the event anything happended to me. Unfortunately she has MS which has now worsened and now is unable to work and of course she lives alone and has no money. She is worried now that she cannot claim UK benefits (housing and council tax benefits) because her name is on the title deeds as if she owns a property abroad even though she has not paid a penny to any costs.
I have proof of payments from my UK bank account for the purchace of the property. To put her mind to rest she desperately wants her name off of the title deeds. I thought it would be no problem like the UK but now I am worried its going to be an expensive 7% tax for me(again) or a reasonable 1% with costs.
Dissolution of Joint Property Ownership in Spain
Now you are really worrying me. I paid for the property and BOTH our names are on the title deeds. All she wants is to opt out and have her name removed.
Dissolution of Joint Property Ownership in Spain
hi i have a property in spain in my sole name i want to sign it over as part divorce settlement at what cost and how to do this
Dissolution of Joint Property Ownership in Spain
Hi. My husband and I were given a house in spain his father for a present. I do not know if the title was put in both our names, or only his. We have since divorced and he has told the courts that he has never owned property in Spain. Is there a way I can do a search to see if any properties are or were owned by my ex-husband if I do not have the address of the property? Is this possible to find out? Thanks!
Dissolution of Joint Property Ownership in Spain
Can you als do a search on what property someone used to own but has sold? I have the date range in which the property would have been owned. Can this be done too? What information do you need on the owner? Full Name and Date of Birth only? I have the region in Spain as wel if that helps the limit the search.
Dissolution of Joint Property Ownership in Spain
Hi, my mum recently past away leaving a house in Spain.
The house was bought initially by my mum, dad and sister who's names appear on the deeds, my mother has left the her share of the house to dad.
My dad has been told he has to pay 3000e to change the deeds but no information of why has been given. The value of the house is around 130K e .
could you please advise me?
Regards
Dissolution of Joint Property Ownership in Spain
My wife and I bought a property in Spain in 2005 and my wifes mother and step-father moved into the house as permanent residents (we both remain non-residents). Just prior to signing the contract we were advised to add my father-in-laws name to the title deeds on the basis that this would enable him to receive health care, open a bank account etc. Last year my mother-in-law passed away and my father-in-law has now returned to live permanently again in the UK. My wife and I are now considering ways to have my father-in-laws name removed from the title deeds (he is fully agreeable to this). What would be the best way to do this - would we incurr 1% Stamp Duty or 7% Transfer Tax?