Problem -Selling a share of my property

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 |

Forum home :: Latest threads :: Search forums
The Comments
22 Jul 2009 00:00 by glennhambling Star rating in Norwich and San Pedr.... 23 posts Send private message

I bought a property 5 years ago with my sister, 50% each. Due to an admin error that I won't bore you with the Deeds are solely in my name. She now wants to sell her share and I am willing to buy it off her however we cannot agree a price.

The value of the property is roughly 110,000 euros (about £100,000) and she simply wants me to pay her £50,000. My arguement that if I was to sell the property I would have to pay 5% agent fees, any CGT etc etc and therefore would not end up with £100,000, probably much nearer £85,000. I have offered her £40,000.

Am I being fair or do people think it is only right I pay her what she wants?

Am I correct assuming with all the deductions I might lose £15,000 in costs?

I would be interested in any thoughts.





Like 0 Dislike 0       | Dislike
22 Jul 2009 19:05 by morerosado Star rating in Guardamar del Segura.... 7681 posts Send private message

morerosado´s avatar

With the deeds solely in your name Glenn, I don't think she should argue with you (in law the property is yours) but yes, I think you are being very fairminded.



_______________________

PLEASE HELP  http://www.galgosdelsol.org/ 

Galgo blog  Over 229,000 views 27/5/2014

 

 

 

 

 




Like 0 Dislike 0       | Dislike
22 Jul 2009 19:39 by semijubilada Star rating in London/Torrevieja. 1073 posts Send private message

If the deeds had been in joint names then you would have had to pay 7% tax to transfer her half into your name.  You can't do a deed of variation as you would in the UK.

I think the 15k is a bit high, as you both own half then the fees should be 50/50.  The main point is would you be able to sell now and if so for how much.

If you're happy to keep the property then perhaps you should get some advice on what the current market value is and go from there.

 





Like 0 Dislike 0       | Dislike
22 Jul 2009 21:28 by glennhambling Star rating in Norwich and San Pedr.... 23 posts Send private message

Thanks for your thoughts.





Like 0 Dislike 0       | Dislike

Pages: 1 |

Post reply    Start new thread
Share it!


Previous Threads

Mortgage Advice Needed Please - 3 posts
Tim Davey - 7 posts
Recommendation for a Pool Surround - 5 posts
Picking up a cruise ship in Malaga - 1 posts
How to get involved in property management? - 0 posts
Health Care in Spain - 1 posts
Is 3.4% reasonable for a mortgage these days ? - 9 posts
Outlook Express HELP!! - 5 posts
BMIBaby have cancelled flights - 16 posts
Dacion en Pago Query!! - 6 posts
Dacion en Pago Query - 2 posts
Calling Gibraltar from a Spanish mobile - 2 posts
Legal help sought - Car access to own property - legal right in Spain? - 4 posts
Interesting read - 3 posts
car hire malaga - 2 posts
any up to date photos ?? - 16 posts
ARE YOU LIABLE FOR FINES OWED ON A CAR YOU PURCHASE IN SPAIN? - 14 posts
HOW DO YOU CHOOSE A LAWYER? - 1 posts
Looking to rent a 3 bed flat in Gibraltar - 0 posts
Licence of first occupation - 3 posts
Furniture - 0 posts
ESTELLENCS - 1 posts
Hi - 3 posts
Cost of tolls through France. - 1 posts
Rough justice yet again! - 1050 posts

Number of posts in this thread: 4

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 |
Our Weekly Email Digest
Name:  
Email:
   
Compare car hire in Spain