We got an enquiry yesterday which I could not answer but it does show the value of being able to pass the buck!! In this case, to Amanda at Spanish solutions who had an answer for us before you could say ‘Spanish solutions, legal and taxation experts on the costa blanca since 2005…’
A client was wondering how easy or difficult it is to sign a Spanish property over to a son or daughter.
Enter Brian….
On 6 August 2015 at 12:05 Brian wrote:
Hi Ian,
Can an apartment be signed over to a son or daughter in Spain without incurring large costs
Regards Brian
From: Ian Comaskey
Sent: Thursday, August 06, 2015 12:47 PM
To: Brian
Subject: Re: Signing over property
Hello Brian,
You probably asked the worst person possible when you asked me but I think not. As far as I know, you have to pay fairly high costs? We’ve had it many times so I should know. Can I run it past Silvia or Amanda in Spanish Solutions and one of them will have the actual answer for you in a few hours?
Best wishes,
Ian
From: Amanda Caroline Thomas
To: Ian, Brian, Silvia
22 hours ago
Subject: Re: Signing over property
Hi all,
It depends on what you feel high costs are. It is now much cheaper than it was a year ago due to a change in the law, so now the rates of donating a property are much lower due to a generous tax free exemption each son and daughter. Thus, if the property is worth less than 100,000€ for example, there are probably very few taxes to pay, just the usual solicitor´s fees, Notary fees and Land Registry fees. Most estimates I have seen are in the region of 3-4,000€. In the long run, that is not expensive.
To quote properly, we need a copy of the deeds and last year´s SUMA bill and to know who the property is being donated to and their relationship.
With kind regards
Amanda Thomas
There you go – now we all know!! I love that Spanish solutions will give free advice to clients rather than trying to keep all the information to themselves. I think in the long run buyers of Spanish property here in la zenia appreciate that we are there to help, not necessarily to just to try and make money from them at every turn.
Thanks Amanda.
Ian
A client was wondering how easy or difficult it is to sign a Spanish property over to a son or daughter.
Enter Brian….
On 6 August 2015 at 12:05 Brian wrote:
Hi Ian,
Can an apartment be signed over to a son or daughter in Spain without incurring large costs
Regards Brian
From: Ian Comaskey
Sent: Thursday, August 06, 2015 12:47 PM
To: Brian
Subject: Re: Signing over property
Hello Brian,
You probably asked the worst person possible when you asked me but I think not. As far as I know, you have to pay fairly high costs? We’ve had it many times so I should know. Can I run it past Silvia or Amanda in Spanish Solutions and one of them will have the actual answer for you in a few hours?
Best wishes,
Ian
From: Amanda Caroline Thomas
To: Ian, Brian, Silvia
22 hours ago
Subject: Re: Signing over property
Hi all,
It depends on what you feel high costs are. It is now much cheaper than it was a year ago due to a change in the law, so now the rates of donating a property are much lower due to a generous tax free exemption each son and daughter. Thus, if the property is worth less than 100,000€ for example, there are probably very few taxes to pay, just the usual solicitor´s fees, Notary fees and Land Registry fees. Most estimates I have seen are in the region of 3-4,000€. In the long run, that is not expensive.
To quote properly, we need a copy of the deeds and last year´s SUMA bill and to know who the property is being donated to and their relationship.
With kind regards
Amanda Thomas
There you go – now we all know!! I love that Spanish solutions will give free advice to clients rather than trying to keep all the information to themselves. I think in the long run buyers of Spanish property here in la zenia appreciate that we are there to help, not necessarily to just to try and make money from them at every turn.
Thanks Amanda.
Ian
