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

[marionlucygParticipant]

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.

[John ThompsonParticipant]

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.

[marionlucygParticipant]

Thanks for your input, John.

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

 

[Author]

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