Dissolution of Joint Property Ownership in Spain

[Barbara]

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 ?

[Lawbird Lawyer]

Dear Paul,

Money must be exchanged otherwise it's a gift and you shall be taxed under Gift tax sliding scale which is the same as for Inheritance Tax.

[Lawbird Lawyer]

Dear Barbara,

His purchasers have to pay in Spain 7% Transfer tax and your ex partner, as a vendor, will have to pay both Capital Gains Tax and Plus valÃ*a tax on his 50%.

Please read our articles on the mater:

Buying Property from a Private Seller - 15th of March 2000

Taxes when Selling Spanish Property - 2nd of May 2002

Buying Property in Spain: An Overview - 3rd of April 2000

Yours faithfully,