Taking over a property
Taking over a property
My very elderly parents are thinking of handing over a property to my sister and myself - however before they do that I want to be sure of the tax and legal situation. I am retired and a Spanish resident but my parents and sister are UK residents. I am not looking for actual legal advice here but would like to know where best to get such advice. The gestors in my area seem not to know anything about these issues - only straight Spanish to Spanish transactions. Has anyone done/been involved with something similar!
I don't profess to own anything here apart from my own opinion.
Re: Taking over a property
Can't think of anyone to match Lawbird (see lawbird dot com) to whom I'll always be eternally grateful for once having dug me out of a big hole. You may even find your answers already within one of their blogs. If you need to do face to face they're down in Marbella but they'll come up to you if appropriate.joddle wrote:I am not looking for actual legal advice here but would like to know where best to get such advice
100% Spanish but their English is better than mine (but that's not difficult).
.
Happiness is a journey not a destination,
So work like you don’t need the money,
Love like you’ve never been hurt,
and Dance like no one’s watching…
So work like you don’t need the money,
Love like you’ve never been hurt,
and Dance like no one’s watching…
More good stuff from LMH members - there's always someone who's been there and got the t-shirt. Nice one Gordo. 
"Write something, even if it's just a suicide note"
"There is no human problem which could not be solved if people would simply do as I advise"
"As for my amnesia, I've had it as long as I can remember"
Real name: Steve
Gender: Male
"There is no human problem which could not be solved if people would simply do as I advise"
"As for my amnesia, I've had it as long as I can remember"
Real name: Steve
Gender: Male
I hate to raise any alarm or be the bearer of any bad news. I really hope I have misread what you are asking, but if your parents are elderly and looking to "hand over" (give away???) a property and they need any help with care costs in the coming few years (nursing home, paid home support etc etc) then there could be real trouble if it is discovered they have disposed of a valuable asset at less than market price, the sale of which could go towards paying for their care....
I suggest you look into this carefully in the UK as well as Spain. (not saying I agree with the current system, but everything gets more rigorous scrutiny now that Local Authorities have had such major cuts in budgets.)
I suggest you look into this carefully in the UK as well as Spain. (not saying I agree with the current system, but everything gets more rigorous scrutiny now that Local Authorities have had such major cuts in budgets.)
Thanks for your concern but they already have taken care of what they need for their care in the UK - good point though for others.zebedee wrote:I hate to raise any alarm or be the bearer of any bad news. I really hope I have misread what you are asking, but if your parents are elderly and looking to "hand over" (give away???) a property and they need any help with care costs in the coming few years (nursing home, paid home support etc etc) then there could be real trouble if it is discovered they have disposed of a valuable asset at less than market price, the sale of which could go towards paying for their care....
I suggest you look into this carefully in the UK as well as Spain. (not saying I agree with the current system, but everything gets more rigorous scrutiny now that Local Authorities have had such major cuts in budgets.)
I don't profess to own anything here apart from my own opinion.
The house is in Spain but their main house is in the UK. They want to leave the house to my sister and I as they are unable to travel to use it these days but to had thought to avoid some inheritance tax they could make it over to us before they die. I am not sure what would work out for the best as I am a Spanish resident and my sister a UK resident - so that is why I am looking for expert advise on this. I don't wont them to end up doing something which they might regret later.
I don't profess to own anything here apart from my own opinion.
You questions are not going to be easy to answer, a bit of a mine filed. As shown by some answers as they have given answers as if you still have connections (financially wise) back to the UK.
Those sort s of details should rally not be put on an open forum.
So we urge you to contact those suggestions given so far in the hope that you can find a solution quickly.
If those suggestions cannot help maybe that can offer some advice to whom you should contact.
PS we have an old book about moving to Spain which lists solicitors that can work in both counties. Have you also got such a book?
Those sort s of details should rally not be put on an open forum.
So we urge you to contact those suggestions given so far in the hope that you can find a solution quickly.
If those suggestions cannot help maybe that can offer some advice to whom you should contact.
PS we have an old book about moving to Spain which lists solicitors that can work in both counties. Have you also got such a book?
Never try to out-stubborn your guests.
Agreed - the actual way to deal with this should not be on the open forum but where to seek advise to answer the many issues is really what I am after - and thanks to people here I now have some idea of who to contact for that expert advise thanks to those who pm-ed me and gave contact details.casasantoestevo wrote:You questions are not going to be easy to answer, a bit of a mine filed. As shown by some answers as they have given answers as if you still have connections (financially wise) back to the UK.
Those sort s of details should rally not be put on an open forum.
So we urge you to contact those suggestions given so far in the hope that you can find a solution quickly.
If those suggestions cannot help maybe that can offer some advice to whom you should contact.
PS we have an old book about moving to Spain which lists solicitors that can work in both counties. Have you also got such a book?
I don't profess to own anything here apart from my own opinion.
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costa-brava
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Like everybody says it's a bit of a minefield. If you have read any of my other posts in the past you'll know that the "experts" give me the screaming abdabs. I honestly believe that you will find it almost impossible to get good accurate legal advice. But there is another way that you may not have considered. Why don't you buy it from your parents? Provided everybody agrees it should not be necessary to actually give them any money. You would go before the NOTARIO and conduct the sale at the lowest price possible according to the rateable value (catastro). You will have to pay all the fees and taxes as if it were a sale and also any taxes due by your parents if the selling price shows a profit. But as a rough guide it will cost about 15% of the declared selling price and certainly less than 20%. I think that is less than you would have to pay if it were a gift and I think most Gestors will be able to help you with this.