Transfering name on deeds.
 

Is it possible to transfer the name on the escritura to another family member?
This is only an option to leaving property in a will.
Many thanks for any info.

Re: Transfering name on deeds.
 

Yes but they consider it to be a sale. Consequently you have the 7% transfer tax to pay plus all the other add-ons!

Re: Transfering name on deeds.
 

Had a funny feeling that would be the case, that's a wadge just to change a name, bit to much for me.
Thanks for the info, much appreciated.

Re: Transfering name on deeds.
 

It's worse than that. If they don't pay for it could be classed as a gift and they have to pay immediate gift tax on it!

The only cheap option is where you have two people on the deeds and you want to put it in just one name. You can do that for just 1%. It's called a "disolucion del condominio".

Re: Transfering name on deeds.
 

1%. It's called a "disolucion del condominio".
It is much cheaper than the IT , but does incur other costs, I paided roughly 2k euro to change ours over a month ago, but well worth it to us.

Re: Transfering name on deeds.
 

Im having to do this for 3 properties, due to divorce.. and what a load of hassle.. but fingers crossed, its being done for the 1% payment...

Re: Transfering name on deeds.
 

I did mine myself, but you still have to pay the notario and the register fees as well as the tax, so I would ask whom ever is doing it for you, its definately not free LOL !
It was no hazzle though.