adding a name to the escritura

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This topic contains 6 replies, has 5 voices, and was last updated by Profile photo of mariadecastro mariadecastro 9 years, 7 months ago.

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  • #52828
    Profile photo of Anonymous
    Anonymous
    Participant

    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

  • #71125
    Profile photo of katy
    katy
    Spectator

    It would count as a sale and incurs 7%tax.

  • #71126
    Profile photo of Anonymous
    Anonymous
    Participant

    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.

    Good Luck

    Terry English

  • #71139
    Profile photo of mariadecastro
    mariadecastro
    Participant

    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.

  • #71196
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi, Does anyone know what the case is if you want to remove someone from the escritura? regards, saga

  • #71212
    Profile photo of Anonymous
    Anonymous
    Participant

    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.

    Best regards

    Terry English

  • #71218
    Profile photo of mariadecastro
    mariadecastro
    Participant

    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).

    Best regards,

    M.

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