29 Jul 2008 12:00 AM:

A friend and I jointly bought a property on the Costa del Sol over 25 years ago - in 1982 I think.  Accordingly the escritura is in two names and since that time, we and our families have used it as a holiday home. We have decided that to avoid any hassle should one of us suddenly die, one of us should buy the other out. 

Rather than one partner actually purchase a half share from the other, it strikes me that it might be beneficial for the escritura to be altered by documented mutual agreement so that the property is held in the name of the one partner only, aquired in 1982, with any financial consideration for  the half share being sorted out privately and seperately.

Can this be done, and am I correct in thinking such a method would be beneficial for tax purposes........or am I barking up the wrong tree?



Thread: Avoiding a capital gain - one for legal eagles and tax experts !

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