- April 23, 2007 at 12:27 pm #52828
Hi Hoping someone can advise as I am confused by different information.
I own 2 properties in Spain(with mortgages) and only my name is on the deeds. questions are
1. I assumed that like the UK my husband is half owner is this correct?
2. Can I add his name to the deeds now?
3. Someone suggested that I should also add my childrens names even though they are under 18?
thanks in advance
- April 23, 2007 at 1:40 pm #71125
It would count as a sale and incurs 7%tax.
- April 23, 2007 at 3:15 pm #71126
I’m afraid Spanish law regarding property ownership/wills is different to that in UK. Would strongly suggest you get advice from a good local lawyer or tax advisor and discuss with them what your aims are befor taking any action.
- April 23, 2007 at 8:20 pm #71139
If the rules of marital society applies to your marriage and the house was bought under marriage, there is no real need of putting the deeds under your spouse name as it belongs to her 50% by law. Any formal adjudication on deeds will just have a 1% tax charge. If you want to donate some of the property to your children you will have to pay Donation tax ( equal to inheritance tax), unless you can enforce a Treaty to avoid double imposition of taxes here.
Maybe your advisor was suggesting you to make a will.
- April 25, 2007 at 11:12 am #71196
Hi, Does anyone know what the case is if you want to remove someone from the escritura? regards, saga
- April 25, 2007 at 5:03 pm #71212
I would assume you would either need a Power of Attorney from the person concerned or the individual would have to do it himself. Should he/she be deceased then your lawyer should be able to sort this out, assuming their is a will.
- April 25, 2007 at 8:02 pm #71218
The holder of the rights need to approve it and will be considered a transmission in your favour which will accrue Transmission tax, unless is exempt ( by being one of the cases stated in the Law for exemption).
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