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

#225449
tomar
Participant

Dera Macgd016.. Of course money change hands. The one who will have 100 per cent ownership must pay the value of the other 50%. This is NOT a gift.

Price has to be paid (if not it’s a gift)  and if you make a gift you pay gift tax (tax deppends of the relationship, couple, father to soon, not relative   )

If you sale the 50% you pay sale tax (ITP) that’s 8% up to 10, depending of the value

If you dissolve you pay Stamp Dutty Tax (1,2%) BUT also you have to pay the value of the 50% 

if not will be considered as a gift so, tax authorities will claim you the gift taxes

 

On top of this is the one who “sells”, his 50% makes profit has to pay taxes for that.