16 Mar 2020 7:24 PM:

Thanks, Johnzx, we do have a local lawyer and accountant on the case. However we've drifted from the original question about furnished lets so I think we'll close this thread now!

Thank you to everyone for their input, most of it was very helpful.

 

Thread: What must you put in a furnished apartment?

--------------------------------------

16 Mar 2020 4:08 PM:

Johnzx, I', not quite sure what you mean by the first 2 sentences. I just mean my father's property and capital, what should I be calling it?

I know about the relationship thing but haven't heard that your personal wealth counts. IHT allowance in the Canary Islands is 99.9% for adult children and adopted adult children. Any other relationship has different levels of taxation. I am told we get 6 months to pay and there are options after that but they accrue interest. You have to pay before inheriting.

 

Thread: What must you put in a furnished apartment?

--------------------------------------

16 Mar 2020 1:24 PM:

Thanks for that, Acer

"To do the job as a landlord properly requires a commitment.  If you're not careful you might give yourselves a lot more work than you might anticipate.  Are you sure you and your sisters wish to do this?   In the UK the property sector is rife with corruption - I suspect it's just as bad here.  It's something that you should think through, before you take this on board."

We do actually want to sell the property as soon as possible after we inherit; we have no wish to be landlords of foreign property. However, at the present time, before probate, we have to work for the benefit of the estate, therefore to be legal, we should put contracts in place. But I am in discussions with the lawyer about the possibility of not letting it at all.

Thread: What must you put in a furnished apartment?

--------------------------------------

15 Mar 2020 7:07 PM:

Sorry for any ambiguity. Thanks for all the replies.

They don't generally have executors in Spain, the beneficiaries of the will are left to sort things out as long as it is for the benefit of the estate. That's myself and my two sisters. I get to deal with it because I speak Spanish. The lawyer who is dealing with the probate is actually writing the new rental contracts, so I am assuming he would have said if we are not allowed to do this.

None of the tenants currently have a valid contract, though two of the three have in the past, one for one year, one for about 4 years. So that's a mess. Tenancy laws in Spain are heavily weighted towards the tenant. They can basically stay for 5 years as long as they pay the rent on time. There is no paperwork! And no bank records, not that I can access his account any more.

My father made promises and we are trying to uphold them. He also allowed one tenant to start redecorating before she moved in so she had already spent money on that before my father passed away. The flat was slightly trashed by the previous tenant - not maliciously but man with two large dogs who's partner left him and he didn't cope very well. So it does need a fair amount of furniture, though not white goods. I wanted to just check that I am being reasonable not paying for anything that could not be passed on to a later tenant. I also don't want to set a precedent where I get to replace the sheets they've ripped a hole in or poured tea over every couple of months.

Just to avoid more ambiguity, I am she, not he. :)

Thread: What must you put in a furnished apartment?

--------------------------------------

14 Mar 2020 12:18 PM:

So I am trying to sort out my father's estate before inherting with my sisters. He had an old house with 2 small apartments rented out. Unfortunately there are two tenants coming in at this moment on a promise from him, one of whom has gone out and bought all this stuff for the apartment and now presented me with the bill. It includes items such as sheets, towels and a huge Tiger rug at great expense! I'm prepared to be a tad generous but I feel they are taking the mickey because I am not my father, and having never been a landlord, my ignorance is obvious and woeful.

What I would like to know is, with a furnished apartment, what do I legally have to supply?

Thread: What must you put in a furnished apartment?

--------------------------------------