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Thread: Dissolution of Joint Property Ownership in Spain

  1. #11
    Carolyn
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    Default Dissolution of Joint Property Ownership in Spain

    I am selling my share of a spanish property to my ex-partner. Because of the fall in the property market the amount he is paying me is the same as we purchased the property for approx 4 years ago - based on valuations by local estate agents. Please can you confirm: 1. that I will therefore not have to pay 18% CGT as there is no gain, and the 3% will not be withheld, 2. will plusvalia tax still be payable, and 3. as the mortgage is only in his name will we have to pay fees for a new escritoria and should I have to pay for this or is it his cost?
    If there are any other costs I should consider please could you advise what these would be.
    Many thanks

  2. #12
    mark evans
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    Default Dissolution of Joint Property Ownership in Spain

    hello,i have 5% of a villa and my friend had 95%,he recently passed away ,do i have to sell my villa or do i now own the whole villa,many thanks.

  3. #13
    Senior Member
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    Dear Sir,

    The beneficiaries of your friend will presumably inherit the villa, not yourself. Why did you think you would inherit it? Are you the beneficiary of his last will?

    Perhaps it may be a good idea if you add more information in your next post so we can advice better.

  4. #14
    John
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    Default Dissolution of Joint Property Ownership in Spain

    My ex-wife and I owned a property in Spain together. We have since divorced and she left her part of the house to me in the divorce settlement in exchange for a property in the UK which I bought for her. The deeds are still in both our names and when I saw a lawyer in Spain he said that we needed to pay about 8000 euros to transfer the deeds solely into my name. This seems an awful lot of money. This figure is based on a value of 400,000 euros but I think the house is now worth a lot less. Is there any way we can avoid paying this amount?

  5. #15
    Senior Member
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    Dear Sir,

    8,000€ seems about right.

    It's 1% of 400k= 4.000€
    Land registry & Notary fees plus lawyer's fees= 3.000/4.000€.

    The alternative is to pay 7% Transfer tax plus all the additional expenses.

  6. #16
    tinska
    Guest

    Default Dissolution of Joint Property Ownership in Spain

    Can anyone put my mind at rest - I am in the middle of a rather nasty divorce & we jointly own a property in Spain, without a mortgage & both names on the deeds (we live in the UK). Can my husband have my name taken off without my knowledge? Please put my mind at rest someone & let me know................Many thanks

  7. #17
    Senior Member
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    Dear Tinska,

    No, your husband cannot have your name removed from the Title deed unless you expressly authorise it either yourself in person at a notary or else by way of a proxy (i.e. lawyer with a POA).

    You are both joint owners of a property in Spain with equal rights.

    Please contact us if you are interested in following a dissolution of joint property ownership. We will explain in detail what this procedure involves.

    Signing a deed of dissolution of joint property ownership is the most cost effective and tax efficient way in cases as yours when divorce proceedings are being followed.

    Yours faithfully,
    Raymundo Larraín Nesbitt

  8. #18
    Sue
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    Default Dissolution of Joint Property Ownership in Spain

    Hi,

    My situation is the other way round. My partner has bout some land in Spain and signed the paperwork in his sole name. He has not yet paid the notary so we are keen to get it paid as the cost is increasing with interest being added. My partner would like to add my name to the paperwork so tha the land is jointly owned. Can you please advise how we would go about doing this.

  9. #19
    Senior Member
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    Dear Madam,

    You only have to hire a lawyer to have the land under joint names in the Title deed signed at completion.

    The plot of land will be lodged at the land registry under joint names.

    Please let us know if we can assit you in the conveyance.

    Yours faithfully,

  10. #20
    oly
    Guest

    Default Dissolution of Joint Property Ownership in Spain

    Like the previous poster, we have a property in Spain which is in my husband's sole name. We would like to add my name to the deed. Are there any issues since he has owned this property for several years already? Thank you.

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