[mike the hammer]

Does anybody know procedure for adding a partners name to an escritura and cost please?

[fionamw]

Originally Posted by mike the hammer Does anybody know procedure for adding a partners name to an escritura and cost please?

Not being silly, but my first step would be to contact a solicitor......

[Fred James]

Originally Posted by mike the hammer Does anybody know procedure for adding a partners name to an escritura and cost please?

It could be expensive as effectively it is a transfer of 50% of the property which will incur taxes of up to 7% of the value of the sale and also legal fees.

Also it could be considered to be a gift and as such gift tax could apply.

As fionamw said - go talk to a solicitor.

[HBG]

Why bother? Make a will instead.

[Fred James]

Originally Posted by HBG Why bother? Make a will instead.

That wont help to avoid Inheritance tax.

If the property is in joint names then it makes a very big difference when one partner dies and the other inherits only half the property.

[Dxf]

Hi

If tax avoidance is what is required, then put your children / relatives on the escritura - I have known over twenty Spanish turn up to sign the sale of a house !!!

Davexf

[Fred James]

Originally Posted by Dxf Hi If tax avoidance is what is required, then put your children / relatives on the escritura - I have known over twenty Spanish turn up to sign the sale of a house !!! Davexf

Absolutely right - but you must do it when you buy it - not later.

[snikpoh]

Originally Posted by Fred James Absolutely right - but you must do it when you buy it - not later.

Not sure I agree.

You can do it when you like but there will be cost implications!

[Fred James]

Originally Posted by snikpoh Not sure I agree. You can do it when you like but there will be cost implications!

I thought I made that clear in an earlier post.

[cymruambyth]

Originally Posted by Fred James Absolutely right - but you must do it when you buy it - not later.

Obviously this would be the ideal way, but it is not always possible, as circumstances change etc

[Dxf]

Hi

Yes you're right - the best way is when you buy - the next best is in a recession when prices are low - but you can put on many people when you do it - don't just put one unless that is all you can do.

Play the system the Spanish way - they do !!!

Davexf