Wealth Tax Allowance

Can any one give me the answer to this: I am married and we intend to become resident in Spain. We have purchased a house but it is only my name on the escritura.

The house is our only residence. Would we both as individuals be entitled to the allowance of e150,253 each as husband and wife or would only one allowance be given as only my name is on the escritura. We've neen married 36years. My wifes name was accidentley omitted by the developers.

Ron

Many thanks daveil,I have been in touch with the developer and stated I must have escritura in both names. At first they said it can not be done (my solicitor was useless) i dropped him and stated to the developer I would not be signing for the property and will be instructing another solicitor to handle the purchase. I have just had notification that they are going to see the hacienda and liquidate the sale and start a new sale in both our names. They will not accept liability and say I will have to pay a few hundred euros costs. I will accept this as it will save the cost of employing another solicitor. Alls well that ends well I hope.

Ron

If you were to put the property into both of your names after the signing of the escritura it would effectivly produce a new sale of half of the property which would involved a 7% transfer tax of half the value of the escritura, which will obviously be a costly exercise.  The developers are being very kind in allowing the liquidation of the sale and I would take the opportunity while it exists.

Regards,

Robert (spanish lawyer