Spain's leading law firm for conveyancing, probate, litigation, breach of contract, family & matrimonial law and Spanish inheritance tax.

news
	Vat on new builds reduced from 8% to 4% Spanish Government finally reacts to construction crisis

	Spanish housing minister appeals to British buyers to return Reforms promised to property and banking law

	Gloomy report on Spanish property market No recovery until 2016

	Repossession cases on the increase Repossession cases heard by Marbella

	El Archivo de Antequera aumenta sus fondos La familia Ramos deposita documentos relacionados con los 140 años de actividad de su despacho de abogados

	Foreign exchange Latest mid-market GBP to EUR

	Bank of Spain proposes doubling provisions for repossessed properties Proposed changes will drive property prices down

	Latest financial scandal Landsbanki mis-selling of equity release schemes

	Bogus Law Firms Fraudulent emails and website cloning

guides
	Guide to Spanish probate Probate in Spain and inheritance law

	Contesting a Spanish will Contentious probate & Disputed wills

	Applying for Spanish NIE number NIE application form in English

	Guide to drawing up last will and testament Use of non Spanish wills in Spain

	Deed of dissolution of joint property ownership Re-arranging assets following divorce or separation

	Divorce or legal separation in Spain Guide to Spanish divorce or separation

	Guide to buying property in Spain Legal guide on purchasing property in Spain

	Taxation of Pension Income in Spain Spain - a favourable tax environment

published articles
	Bank and insurance guarantees Enforcing a claim under bank or insurance guarantees

	Buy with confidence Avoid the pitfalls

	Executing a power of attorney Risks involved in executing a power of attorney

	Rural property Risks involved in buying rustic or rural property

	Refinancing and equity release schemes Spain an unregulated market place

	Starting a business in Spain Pitfalls of buying a business in Spain

	International child abduction Parental child abduction - Child abduction in Spain

			Deed of dissolution of joint property ownership
	Resolving jointly held Spanish based property following divorce or separation in Spain A deed of dissolution of joint property ownership (escritura de extinción de condominio) is a cost effective and tax efficient way for registered owners to re-arrange their combined property holdings. Situations in which it might prove beneficial are:- Divorce or separation proceedings Re-arranging inheritances Re-arranging property holdings between friends and families The procedure is relatively simple and straight forward and results in significant savings in both tax payable and legal fees. It is merely a matter of going before a notary and re-registering the property in the name of the remaining owner. Taxation A deed of dissolution of joint ownership attracts tax at only 1% rather than the standard rate of 7%. Also both parties are saved the administration burden of the 3% capital gains tax retention and subsequently waiting 6 to 12 months for it to be refunded. Legal fees As the transaction requires less in terms of a traditional conveyancing service then any quoted legal fee should be less than the standard 1% to 1 ½ % plus VAT normally quoted. For high value transactions it would probably be advisable to agree an hourly rate with an overall cap on the final fee. Mortgage If there is a mortgage attached to the property then it will also be necessary to obtain consent from the mortgage provider to release the outgoing owner from any on-going commitments.

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Spain's leading law firm for conveyancing, probate, litigation, breach of contract, family & matrimonial law and Spanish inheritance tax.

Resolving jointly held Spanish based property following divorce or separation in Spain