Inheritance Taxes due & Plus Valia

[zerozero]

Hi,

My grandmother died who was a joint owner of a property in Tenerife (with grandfather) and my grandfather is still alive. Despite having a spanish Will (which was understood to solve a lot of issues) , it didn't seem to and so we have just started getting the legal bills in from a soliticor that was local to my grandparents.

My Grandfather isn't in a very good way at the moment and so I'm trying to pick up some of this and doing some double checks to ensure that he is paying correct and fair amounts.

They bought the property in 1986 (i'm trying to get the amount it was bought for) and we have received a solicitors bill including €2,500 inheritance tax and €1650 plus valia tax.

We understand the current property is being advertised for sale currently at around €70,000.

For inheritance tax, could someone point me to how this inheritance tax works and how the calculation should be made?

For PlusValia, there is an article on this site belegal.com/articles/showArticle/taxes-when-selling-spanish-property which implies that as this was bought before the end of 1986 there should be no plus valia tax to pay. Is this still the case? Otherwise could someone let me know how this tax is calculated (especially as the property would have been bought in pesatas and how this currency conversion should work)

Many thanks for any help!