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15 Feb 2013 11:21 AM:

Thank you for all of the advice.



Thread: Advice on Spanish property tax

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08 Feb 2013 7:39 PM:

Thank you.

We are currently presenting a stamped architects certificate to the lawyer that shows the details of the extension. Once this is processed and the deeds updated (I imagine this is what has to be done when a property is extended and the value increases) do you think we will be liable for any back tax? We do not believe that any additional tax is paid today compared to when the property was purchased and worth a lot less.

What are the current tax rates for property taxes in Spain? Would there be an option to pay in stages or would they be likely to demand it all immediately?

Regards

Thread: Advice on Spanish property tax

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08 Feb 2013 6:09 PM:

Hi

I was wondering if anybody could help me with some Spanish property tax issues? I am travelling to Spain next week to have a meeting with a lawyer about it all but I want to try and gather some information first so any help or advice would be gratefully accepted. Here's the situation:

Mother in law moves to Spain with fiancée in 1998 having bought a house for roughly £50k the year before
After 12 months fiancée passed away
2 years later new partner moves in
New partner spends money on the house increasing its value to an estimated €250,000
2 years ago separates from partner

We know that the deeds were never updated for the extension and swimming pool.
Fiancées will was not originally recognised in Spain and stated that his share of the property be held in trust for my husband and fiancées son, which is apparently not recognised in Spain. We have now had will translated and it is now lodged and recognised with the powers that be.

We also suspect that as the deeds were not updated that the appropriate tax has not been paid since the extension was built.

What we want to do:

Remove fiancées name from deeds to enable future selling of property and to simplify things if anything were to happen to mother in law.


My queries are:

Do you think that there is a hefty tax bill waiting for us further down the line?
Would there be any inheritance tax issues?
What about capital gains tax?
If we sorted out the deeds etc could the property be transferred to mother in laws son? If so what tax implications would there be?
If anything were to happen to mother in law would next of kin be liable for any tax debt? If so could the house be sold to settle the debt?

Mother in law is a Spanish resident but does not work. She pays a basic tax.

Many thanks for taking the time to read this and I appreciate any feedback you may have. We just want to get all affairs in order as its been lingering for too long.

Regards

Thread: Advice on Spanish property tax

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18 Apr 2011 10:15 AM:

Hi

I shall be consulting a lawyer about this, it's just knowing where to start.

Thanks for all of your advice to date.

Regards



Thread: Can this be done?

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16 Apr 2011 9:11 PM:

Hi, thanks for all of your replies.

 

In answer to your questions:

 

The deeds state my sisters name and her ex partner (that passed away) as she has never changed them. His will stated that everything in Spain should be left to her and everything in the UK should be left to his daughter. We have been told though that the will was not valid in Spain so I have no idea where that leaves her. His daughter has not been in touch for years now.

My nephew is so concerned about what would happen if she were to pass away. He has a family and good job in the UK so moving out there isn't really an option. As my sisters will states that everything should go to him where would that leave him both legally and financially? Would he have to pay anything to resolve this? Could any legal fees be paid from the sale of the house or is he going to have to pay out potentially thousands to sort this? I'm so worried for him and wish my sister would just get things sorted.

 

Thanks folks



Thread: Can this be done?

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