Spanish Property Donation or Transfer
GB Abogados offer clients a stress free property transfer service for properties throughout mainland Spain, the Balearic and Canary Islands.
The service achieves the transfer of ownership for one or more parties to another person or company.
Who does it apply to?
GB Abogados continue to represent property owners in all kinds of situations. Property can be co-owned in many different ways; by couples, family or friends.
Often one co-owner may wish to transfer their share to the other owner(s). Or a parent solely owning a property may wish to transfer to their sibling(s).
GB Abogados can also assist companies with the transfer of ownership of a property, either to another company or to a private individual.
There are many reasons why a property owner may wish to arrange the transfer of ownership to another party.
At the present time we are encountering many UK clients who wish to transfer their Spanish property to sons or daughters due to the uncertainty with the tax implications of the UK intention to leave the EU.
The current level of inheritance and donation taxes that apply to UK citizens is potentially much lower than may be in force following the Brexit.
The level of taxation differs throughout Spain and it may be that your property can be donated without taxes being incurred.
In this situation the total costs are limited to notary, land registry and legal fees.
In this scenario, no payment is made for the property between the parties. It is in essence a donation between family members.
To give an idea of the process and timescale of the property transfer service, the first step is to make contact with us.
We will discuss your circumstances and provide impartial advice as to your options. We will also give an indication of the associated costs.
Once appointed, our bi-lingual solicitors will work on your behalf to ensure a smooth transfer of ownership of your property in Spain.
The initial stages typically involve the gathering of the relevant documentation.
For a transfer of ownership this would usually include a copy of the property deeds, recent council tax bill, passport copies for each individual.
The majority of clients request us to arrange the transfer without the need for all parties to travel. This is entirely possible and helps to reduce the costs and organisation of the process.
The transfer of ownership of the property is concluded at a notary in Spain, in the same way as the original purchase.
In order to sign on behalf of all parties, we prepare a Power of Attorney.
This is a formal document that both the current owners and new owners will need to grant to empower our solicitors to complete the transfer.
The document is drafted in two column format with an English translation. It is signed in front of a notary in the UK. As part of our service, we assist with identifying a notary locally to you.
Once all documentation is in place and completion monies are arranged, the notary appointment will be organised for the property transfer.
How we can help you
Your English speaking solicitor will keep you posted throughout the process and answer any queries that you may have.
We make the property transfer in Spain simple and without the need to travel. Our initial consultation is free of charge, enabling you to make a decision based upon costs and your circumstances.
Please don´t hesitate to contact us today to speak with one of our English speaking solicitors.