Dear Sir.
I jointly own a property near Torrevieja with my cousin.We have both made out Spanish wills.We are both married,although the property is in mine and my cousins name only.Should I die first I understand my share automatically goes to my wife. When my wife dies I have willed my share equally to my 3 children (all over 21). My cousin has mirrored my will leaving his share equally to his 2 children(both over 21).
Could you please advise on I H T. liabilities for this situation.
We are both non residents. the property was bought in 2007 for 225,000 euros and is now worth lower than 200,000euros.
Regards. John
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