{"id":429,"count":19,"description":"Sometimes you may want to transfer your property to some relatives of third person so different reason, it may be to pay a debt, to save Inheritance Tax, to deal with your state before pass away, etc.\r\n<div align=\"justify\">\r\nIn this scenario the thing that needs to be determined it is what is the best way to proceed in order to transfer the property, that means, which is the cheapest, faster and easiest proceeding.\r\n\r\nA property or a share of a property can be transferred by means of a sale-purchase, gift, inheritance, etc. Depending of the circumstances of each case, do it one way or the other could mean an important save of time, money and problems.\r\n\r\n\r\n<strong>A SALE:<\/strong> we appreciate that you may not be familiar with the conveyancing system in Spain and therefore we should like to take this opportunity to confirm the following information for your assistance.\r\n\r\nTaxes \/ Fees\r\nOn a resale property (ie one that has been previously owned, as is the case here) the present rate of transfer tax (ITP) is 7% of the declared purchase price. This sum is payable during the 30 days following completion before the Notary.\r\n\r\nNotary \/ Land Registry\r\nCompletion of your purchase takes place in the presence of a Notary. Your title to the property is then registered with the Land Registry in a similar manner to properties in the UK. Charges have to be paid in both instances and these are liable to variation.\r\n\r\n<strong>\r\nA GIFT: <\/strong>Normally the gift of a property to a relative, when you are not tax resident in Spain is from the Tax point of view more expensive than a sale. Also the transfer of the Mortgage Loan for some tax authorities are considered like a transfer of a right, and they asked to be paid also at 7% transfer tax on top of the gift tax. If the beneficiary of the gift it is a tax resident relative, this could be an advisable way to proceed.\r\n\r\n\r\nIn any case, all the parties involved will need to have NIE Number (N\u00famero de Identidad de Extranjero), Anyone having an interest in a property in Spain is required to have an NIE (identification) number in order to pay your taxes and register the property. For example it is essential to have an NIE number to apply for the utility companies to provide services to your property.\r\n\r\n\r\n\r\nTherefore each case, needs to be considered individually in order to determine the easiest and better way to proceed, to study it is need:\r\n\r\n.-Copy of the Deed of the property to be transferred. Confirmation of who are the owners of the said property.\r\n.-Copy of the passport and NIE number of all the parties. Confirmation the age of all the parties involved, and if they are relatives. Confirmation of their country of tax residency: and if they submit taxes as resident or non resident in Spain.\r\n.-Copy of the LOCAL RATES ( also known as council tax,-suma bil, etc) should appear the cadastral value of the property on it, we will determine with it the minimum tax value of the property.\r\n\r\nWith all this information we will be able to advice the best way to proceed.<\/div>","link":"https:\/\/www.white-baos.com\/en\/servicios\/conveyancing-buying-selling-letting-planning-permission-etc\/transfers-gifts-of-legal-title-in-spain\/","name":"Transfers &amp; Gifts of Legal Title in Spain","slug":"transfers-gifts-of-legal-title-in-spain","taxonomy":"category","parent":412,"meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Transfers Legal Title<\/title>\n<meta name=\"description\" content=\"Transfers &amp; Gifts of Legal Title in Spain\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.white-baos.com\/en\/servicios\/conveyancing-buying-selling-letting-planning-permission-etc\/transfers-gifts-of-legal-title-in-spain\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Transfers Legal Title\" \/>\n<meta property=\"og:description\" content=\"Transfers &amp; 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