We own an apt. in mallorca . What is the cost to transfer his share to me.?

Spanish Property Insight Forums Spanish Property Forums Property Questions & Answers We own an apt. in mallorca . What is the cost to transfer his share to me.?

This topic contains 2 replies, has 2 voices, and was last updated by  marionlucyg 1 week, 4 days ago.

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  • #224433

    marionlucyg
    Participant

    My partner and I own an apartment in Mallorca. We are not married. He would like to transfer his half share to me.  Please can you tell me what costs are involved.  Thank you.

  • #224549

    John Thompson
    Participant

    If you’re tax resident in Spain I believe a liability for CGT for both parties arises on completion of the transfer, regardless of whether there is any monetary consideration involved – the Spanish taxman will use the deemed market value of the property as the basis of calculation of said liability.

  • #224825

    marionlucyg
    Participant

    Thanks for your input, John.

    We are non-resident. Does this make a difference ?

     

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