Hello Sinead,

The transaction you are suggesting would not be considered a dissolution of the joint ownership, as this takes place when two or more co-owners dissolve the ownership to re-distribute the shares among them. In this case, one of the co-owners is transferring/selling his/her share to a third party, so the operation is regarded as a transfer or sale of a share ( 50 % in this case ) of the property.

Please note that even if you are buying that half for 20K, the applicable Transfer Tax will still be calculated using the fiscal value the property, so I recommend you to find this out to get an idea of the costs before going ahead. If you provide us with the cadastral value of the property, we can calculate the bare minimum you must declare on the transfer to avoid further Transfer Tax requests from the Taxman. Additionally, declaring anything under this value could also be regarded as a donation, and attract much higher tax rates

Regards,