usufructos

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This topic contains 1 reply, has 2 voices, and was last updated by Profile photo of Anonymous Anonymous 7 years, 9 months ago.

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  • #54776
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    Anonymous
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    I own a property on the Costa Blanca. Can I now set up a usufructo with my children whereby they would then own the property but I could live in it and they would be liable for less inheritance tax and if so is it expensive to set up
    John Hadley

  • #90444
    Profile photo of Anonymous
    Anonymous
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    @john hadley wrote:

    I own a property on the Costa Blanca. Can I now set up a usufructo with my children whereby they would then own the property but I could live in it and they would be liable for less inheritance tax and if so is it expensive to set up
    John Hadley

    The way is to sell the “nuda propiedad” (the property without the right of use), and you will keep the right of use for a life.

    You should pay a tax (7% of the official reference value), and the fee to the Notary and Land Registry. The costs are related to the value of the property.

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