Transfer of property: purchase, donation, inheritance, etc..

There are times when you want to transfer property to family members or others, for various reasons: for the payment of a debt, to deliver the goods in life, to achieve tax savings, and so on.
In these circumstances the first thing to determine is what is the best way to transfer our property, what is the process cheaper, faster and less complicated.

A property or part of it, can be transferred through a sale, donation, inheritance, etc.. Depending on the circumstances of each case, and the agreement reached between the parties, do it one way or another can mean significant savings of time, money and trouble.

SALE: in general we can say that in the case of second-hand operations, the main costs are:
Taxes: (Valencia) the transfer tax (ITP-TPO) is 7% of the purchase price. Normally be paid within 30 days of signing the deed of sale.

Notary / Land Registry: the sale is normally eaten with the signing of a deed before a notary public. This title will be registered in the corresponding Land Registry. These costs are variable and depend on the value of the property, number of pages of writing, etc..

DONATION: Normally the donation of property to a family member when they are not tax residents in Spain can be from the fiscal point of view very expensive. Also must take into account the fact that some offices liquidators understand that if the gift is a transfer of mortgaged property the burden is considered subject to transfer tax and accrue the 7% of the load. If the grant recipient is resident in the Valencian community, this may be a convenient way to transfer the property for tax purposes.

In any case, if any of the parties involved were not Spanish, must have an NIE number (Foreign Identification Number).
Therefore each case must be considered individually to determine the best and easiest way to proceed, you must check and study:
.- A copy of the deed to the property transferred. The confirmation of who the owners.
.- A copy of ID or passport and NIE of all parties. Confirmation of the age of those involved, their kinship, confirmation of tax residence.
.- Copy of property tax (urban contribution).
With all this information can be determined in your case how best to proceed.

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