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| Legal & Financial This is the forum for all your legal and financial questions. |
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#1 (permalink) |
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DJinSpain
is networking, social and business
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Financial Pages in Spain My blog has more detail. I hope you will read it and pass it on to all your contacts, whether Spanish resident or property owners. DJ |
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#2 (permalink) |
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dunmovin
is....
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I have to admit that my only worry about this tax,is the survivng spouse. If we both die at the same time, then whoever gets the house(if they want it) can pay the tax, which will be far below the actual value of the place
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#3 (permalink) |
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DJinSpain
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The surviving spouse is one of the big differences between the UK and Spanish versions. The story in my blog shows how many British people in Spain 'assume' that the systems are similar.
Personally, I think all potential beneficiaries should know the situation because the tax has to be paid within six months. |
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#4 (permalink) |
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dunmovin
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what happens if the person defaults on the tax? Doesn't really affect me or my wife as we have set aside funds for just such an occassion
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#6 (permalink) |
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dunmovin
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I think if you choose to leave your house to someone, it would only fair to tell them and warn about tax implications, or have the tax paid from the estate.
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#7 (permalink) |
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El Gordo
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The tax cannot be paid from the Estate, and you cannot borrow against a property which is not yet yours either.
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#9 (permalink) |
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JazminesII
is well actually has found lots of familiar folks
;-))
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A spanish person told me that many locals ignore this tax.......I'm told if its not paid in 7 years its no longer due.......illegal for sure but evidently an approach locals use.
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| financial advice, inheritance tax, spain, tax |
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