Search:     Go  
The Spanish Lawyer Online
The Spanish Lawyer Online
Results 1 to 2 of 2

Thread: Selling a property purchased in 1998 what tax's to pay

  1. #1
    Junior Member
    Join Date
    Jun 2012
    Posts
    1

    Default Selling a property purchased in 1998 what tax's to pay

    This is my parents property. They have, over the years added a large garage/workshop and a swimming pool. I don't think they had them entered on the Escritora (?). They have had an offer of 95k Euros - I believe the purchase price was about 6mill pasetas.
    Will the buildings they added be counted in the sale from a total value point of view?
    And what CGT would be likely. They are both residents in Spain.
    I would be grateful for any info on this as I am not able to be in Spain to assist them, they are elderly and all this is a hassle for them.

  2. #2

    Default

    Hello Lou,

    I recommend you to proceed with the legalization of the garage and swimming pool via a new building deed ( escritura de obra nueva ) and certificate of Lawfulness ( Certificado de antigüedad ) that need to be formalized and registered. Once these are obtained, the property can be sold as it is in full and the attracted CGT will be the 21% of the profit made between the purchase and selling price once the Notary, Land Registry, taxes, lawyer´s fees and real Estate Agent commission have been deducted.

    Please feel free to contact me directly by clicking on my profile if you wish to discuss your particular case.

    Regards,
    Patricia Martin
    Immigration Consultant at Lawbird | Contact Me
    Check My Profile

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •