Spouse deceased what happens to escitura

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    • #192170
      Adevine
      Participant

      Hi – My father has 3 weeks timeshare (Lanzarote) in which he has an escitura for 2 weeks owned and not the other week owned.  My mother has now passed away so does he need to do anything further or does the rights automatically pass to him.  It was joint owned.

       

      Regards Andrena

       

      Andrena

      Andre

       

      My father has 3 weeks timeshare

    • #192361
      Mark Stücklin
      Keymaster

      You need to contact the timeshare company and find out what their policy is on this. However, I suspect you will need to get the deeds updated using your mother’s will.

    • #192407

      Pls be informed that inheritance tax is applicable.

    • #192410

      Hello Andrena,

      I have come across cases in the past where Timeshare property has been in peoples own personal names, so when there is a death it is Spanish Inheritance Tax that would have to be paid by the Beneficiary as per the Will.

      However I have also been aware that in Timeshare or Fractional Ownership of Spanish property there may have been a corporate structure set-up, like a UK Limited Company, so that on death the shares in the Company pass to the Beneficiary outside of Spain so no Spanish inheritance Tax to pay.

      With the Timeshare or Fractional ownership property being in a UK Company structure meant the other owners of the Timeshare or Fraction did not have problems with Spain Tax office whilst Probate takes place.

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