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SOME CONSIDERATIONS ABOUT TREATMENT AND RECOGNITION OF TRUST IN SPAIN

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We can define the Trust as an agreement by virtue of which its constituent (“Settlor”) provides for on life or on decease (“mortis causa”), the creation of a separate fund (trust), for assignment to a fiduciary (trustee) to be administered in accordance with determinate instructions received in favor of a beneficiary or a group of […]

HOW EXECUTE AN INTESTACY-LETTER OF ADMINISTRATION FROM UK IN SPAIN

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 icon-question-circle QUESTION: My wife passed away on July 2012 WITH NO WILL. We only shared a house in Spain. I am British resident and Citizen. So I need a Spanish Notary to legalize UK Letters of Aministration to transfer title to me.  icon-hand-o-right TLACORP ANSWER: Dear Sir, First of all, please, accept our sincere condolences for the decease […]

IS IT OBLIGATORY TO MAKE A WILL IN SPAIN?

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There is some confusion in the market in relation when deciding to make a Will in Spain when you have Spanish assets. The majority of our clients, when buying a house in Spain, they ask us if they have to make a Will. NO. It is not obligatory. There is not any law in Spain […]

WAYS TO REDUCE SPANISH INHERITANCE TAX

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In order to explain the different ways to avoid or reduce Spanish Inheritance Tax, we will use an example: –       A+B, British and Spanish residents own a Spanish property.  They have 62 years old. They have 2 sons. Sons are not Spanish residents. –       Both have made a “mirror Will” (A leaves everything to B, […]

CATASTRO INSPECTIONS AND FINES FOR UNDECLARED CONSTRUCTIONS

HOW IS YOUR PROPERTY REGISTERED IN CATASTRO? The General Directorate of Cadastre activated an extraordinary regularization process to locate properties whose owners (individuals or companies) are not taxed for them or do so incompletely. It is what is called the “cadastral amnesty”, which is a process very similar to the famous tax amnesty and also […]

HORIZONTAL DIVISION – URBANISATIONS IN RUSTIC LAND

Horizontal Division in Urbanizations means that the land where the different houses from the urbanization are placed belongs to all the owners “in common”. This Horizontal Division is a way used in urbanizations and buildings where the different owners own the 100 % from their houses and “in community” the land of the urbanization. So, the […]

Johana Esteve

Lawyer. Inheritance, Property & Construction Law and Legalisations. English & French spoken

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