Hello MarkW,

The transaction you will be doing is not a dissolution of jointly owned property, but a sale of shares, that is taxed in the same way as an ordinary sale. Having said this, this is the applicable Tax and costs the transaction entails:

• Transfer Tax ( ITP ) 10% of the share being transferred: 9,000 Euros
• Plusvalia: TBC with the Moraira Town Hall
• 3% retention: 2,700 Euros
• Notary costs: TBC
• Land Registry: TBC

If it had been a dissolution of jointly owned property, the ITP would be 1.5%. I believe you got confused between transfer Tax and Plusvalia.

If you need further assistance, please do not hesitate to drop us an email.

Regards,