Tax Implications on Refund of Mortgage payments on sale of House

[prattjrc]

House Deed is in my wife’s name due to the fact that I could not be here at the time of purchase.

We are both exempt from Capital Gains because of residency and age. Unlike some other countries, in Spain Community property rules don’t seem to apply.  I have been paying the mortgage since 2002. When the house is sold I will get 50% of the sale. Hence my money would look like a gift to the tax man and taxed accordingly!! Is it possible to claim my share as reimbursement for the mortgage payments which total more than my 50% tax free? Wife had no earnings, I paid for everything.

[Barbara Ingenbleek, Euro Economics]

Yes, you can, if you can proof with oficial documentation that you paid 50% of the purchase price.

[Author]

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