“I have a property by my own Spain. I have the 100 % of the ownership of the property. How much will it cost to change the title deeds to my wife’s name before I die, or to pass her 50 % of the property?”
TLACORP ANSWERS:
Please, be informed that to pass the property to your wife is considered in Spain as a “DONATION”. And, in Spain, the taxes to pay for a donation are extremely high, as much as high as Inheritance Tax.
One way cheaper than a Donation to pass a part, or the full ownership of the property to your wife, is making A SALE. The expenses in this case must be studied with the particular case, but to you to have an idea:
- 8-10 % of the share to pass to the other part as Transfer Tax
- Notary + Lan Registry = 2.000 EUR approx.
- 3% of the share to pass to the other part as Capital Gains retention
- Local Plusvalia: To confirm
- Legal Fees = To consult
Please, do not hesitate to contact us for any help you may need from us in this special case. We will be delighted to help you.
