Transferring a properties ownership

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10 May 2018 16:19 by Juliem47 Star rating. 2 posts Send private message

Hi after some information...my parents have a place in Spain which due to illness they don't use anymore but I her daughter and I now use it and pay the fees and bills for it. We were wondering is it possible for them to transfer ownership over to me. If so how much would it cost and how do we do it.

Thank you


Transfer a property



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10 May 2018 19:47 by Marksfish Star rating in Vera, Almeria. 2476 posts Send private message

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I'm sure it can be done, but will it be worthwhile? When you buy a property, there is a X,000€ transfer tax to pay (can't remember figure, but 7k sticks in the mind). It would stand to reason that as this is still a transfer of ownership, that fee will still be payable.

Mark





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10 May 2018 20:29 by mariedav Star rating in Ciudad Quesada. 832 posts Send private message

There's not fixed transfer tax. The ITP (Impuesto de Transmisiones Patrimoniales) which is a fixed percentage depending on the region your live in.

Comunidad Valenciana and Catalonia is 10%  resale properties.

I think Murcia and Andalucia are 8% on resale properties.

 





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11 May 2018 09:57 by Kavanagh Star rating in Oil Drum Lane Newcas.... 261 posts Send private message

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Hello Julie and welcome to EOS

‘’transfer ownership over to me’’

Does that mean give it to you free? You need to go see a good lawyer who knows all about transfer tax and gift tax. Try Maria L de Castro on here, she seems trustworthy and switched on (unlike many lawyers).



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13 May 2018 07:26 by mib150 Star rating in Corvera / Yorkshire. 106 posts Send private message

If you try and transfer, I believe it is seen as a sale and toy have to pay the relevant taxes (even though no money may change hands).

I believe the best way is a donation/gift, taxes still need to be paid, but it is a cheaper option.





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18 May 2018 19:21 by mariadecastro Star rating in Algeciras (Cadiz). 9069 posts Send private message

Legal Questions? Speak to Maria Direct

That would be a Gift ( Donación) which is taxed as an Inheritance



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