Unregistered
11-15-2009, 04:28 PM
Please can you give me some advice on the following:
A friend, and his wife, own a finished property in Spain which they use for holidays, they do not have the Escritura for it yet but are in contract with the developer who will at some point complete this process.
My friends wife is very ill and he has approached me to ask if I would replace her on the contract with the developer as joint owner. This would involve me getting a NIE number and signing the contract once his wife has been removed from it.
He has said that the developers office has said its a simple changeover of names but reading some of the information available online I think this is maybe not the case and that there may be some significant taxes involved.
Also I assume this would only give me a 50% holding in the property although his intention is that on his death I would own the property outright.
Any advice on any problems and costs with this would be gratefully received.
Tim
A friend, and his wife, own a finished property in Spain which they use for holidays, they do not have the Escritura for it yet but are in contract with the developer who will at some point complete this process.
My friends wife is very ill and he has approached me to ask if I would replace her on the contract with the developer as joint owner. This would involve me getting a NIE number and signing the contract once his wife has been removed from it.
He has said that the developers office has said its a simple changeover of names but reading some of the information available online I think this is maybe not the case and that there may be some significant taxes involved.
Also I assume this would only give me a 50% holding in the property although his intention is that on his death I would own the property outright.
Any advice on any problems and costs with this would be gratefully received.
Tim