Larraín Nesbitt Lawyers is an independent Spanish law firm specialized in property conveyancing, inheritance, non-resident taxation and litigation. Expert English-speaking Spanish lawyers and economists blend legal and practical advice providing tailored assistance on your matter. Our range of services cover mainland Spain, the Balearic and Canary Islands.


The firm focuses advising foreign investors on acquiring residential property in Spain both from a legal and fiscal point of view. Our no-nonsense approach to business coupled with our commitment to clients ensures easy-going transactions. We pride ourselves in putting our clients’ interests at the forefront of everything we do.


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Last Article:

Seven Advantages of Making a Spanish will

Raymundo Larraín Nesbitt, May, 1. 2018

Marbella-based lawyer Raymond Nesbitt explains the advantages of making a Spanish will.

Article copyrighted © 2009. Plagiarism will be criminally prosecuted.

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
8th of May 2018

 

 

 

Ideally foreigners should make two wills; one in their home country ruling on their national assets and a second Spanish will drawn up in Spain which will rule exclusively on their Spanish estate.

Recent European legislation (Brussels IV) has rendered some old Spanish wills made by British void. In such cases it is highly recommended a lawyer drafts a new one to safeguard your heirs' interests. Any will witnessed before the 17th of August 2015 should be revised by a lawyer to ensure it is fully compliant. More details in our article: Spanish Wills and Probate Law in light of European Regulation 650/2012.

Our law firm can draft a Spanish will (in English and Spanish) from only €195.

More on this service: Will’s Service.

 

  1. A Spanish will only affects your Spanish estate. It does not affect any assets or preclude any prior will witnessed in your home country.
  2. Drawing up a Spanish will help your heirs mitigate their tax bill. There’s a deadline of 6 months as from the time of the testator’s demise to file and pay Spanish Inheritance Tax (IHT). Late payment of IHT attracts surcharges, penalties and delay interests. A Spanish will cuts through the red tape streamlining the succession procedure so tax is paid on time within the deadline (without attracting penalties and interests on top).
  3. Drawing up a Spanish will saves both money and hassle. If you only make an English will, your beneficiaries will have to follow a Grant of Probate in the United Kingdom (over £1,200). You'll need to translate into Spanish by a sworn translator all legal documents, notarise them and affix to each of them the Apostille seal of The Hague Convention. All this greatly increases the expenses for your beneficiaries, as well as significantly delaying the whole procedure of transferring your Spanish estate which will attract surcharges, penalties and delay interests (point two above). However, if you make a Spanish will, the above becomes redundant.
  4. Spanish wills are stored safely at no extra charge. On making a Spanish will, you will be given only a “copia simple” (simple copy) or “copia autorizada”. The original is stored by the Notary in his files for record. Should you lose your copy, don’t panic. All Spanish wills' details are safely stored at Madrid’s Central Registry of Last Wills. One can always request a copy and if you believe you are a beneficiary, they will let you know before which Notary it was witnessed.
  5. Spanish wills drawn up before a Notary public add security. Making a will is a personal act. A Notary is a highly qualified law professional who witnesses the signing of a will. He will highlight any incorrection or illegality.
  6. The content of a Spanish will is governed by your own national laws. This means that you are not constrained by Spain’s forced heirship rules. Additionally, if you are a British or Irish national, you have free testamentary disposition in Spain. Meaning you can make a will exactly the same as you would in the United Kingdom or in the Republic of Ireland, albeit with all the additional advantages for your loved ones that I’ve highlighted above.
  7. A Spanish will can be worded in English. Spanish wills can be drafted in double barrel, English-Spanish, so you know at all times what you are signing at a Notary public.

 

Intelligence is the ability to adapt to change.” – Stephen Hawking.

Stephen William Hawking (1942 - 2018). English theoretical physicist, cosmologist, writer, and director of research at the Centre for Theoretical Cosmology at the University of Cambridge. Former Lucasian Professor of Mathematics at the University of Cambridge and author of A Brief History of Time. Likely the world’s smartest man. Despite his serious physical condition from a young age, he sported a brilliant sense of humour that humbled all and made him appear no less than four times in The Simpsons show as himself - no one else holds this record to date. Given his physical disability and the severe adaptation he endured, if we are to go by his own quote, his mind must have been touched by God.

 

Larraín Nesbitt Lawyers, small on fees, big on service.

Larraín Nesbitt Lawyers is a law firm specialized in inheritance, conveyancing, taxation and litigation. We will be very pleased to discuss your matter with you. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 951 894 675 or by completing our contact form.

Article also published in Spanish Property Insight: Seven Advantages of making a Spanish will

Legal services Larraín Nesbitt Lawyers can offer you

 

Inheritance-related articles

 

Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.

2.009 © Raymundo Larraín Nesbitt. All rights reserved.

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Last Blog Entry:

Landlord, careful with tenant’s subletting on your property!

Raymundo Larraín Nesbitt, May, 21. 2018

Admonitory blog post on the abusive misuse of long-term rentals.

Blog post copyrighted © 2018. Plagiarism will be criminally prosecuted.

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
21st of May 2018

 

 

 

                                                                                                                                                Sly tenant gleeing on all the money he's going to cream off you.

 

Now that the good weather has made a comeback, the rental season in Spain kicks off. Many landlords will be busy these days signing lease agreements on their Spanish properties. Unless you have been living under a rock for the last two years, the holiday rental business is booming in Spain (two-digits growth p.a.).

I though it would be a good idea to write a short blog post on the serious risks of renting out your property long-term and have your tenant subletting it as short-term unbeknownst to you.

Many unsuspecting landlords are falling prey to sneaky tenants who are subletting the property as short-term accommodation making a killing. It is estimated that on average a tenant can make 60% over and above a long-term rental. So obviously there is quite the incentive to flaunt the rules and do it, as it is win-win for them. They cream off the rental money and have zero risk on doing it, as any penalty is footed by the landlord as I explain next.

Who is ultimately responsible for this misbehaviour?

As I cared to explain in a previous blog post (How (not) to bypass regional Holiday Home Laws in Spain) the responsibility falls squarely on the property owner. Some cheeky landlords are renting out their luxury pads in prime beach locations as ‘fake’ long-term rentals to foreign companies in the full knowledge that these are busy marketing and subletting the property offering it as holiday rental accommodation without having attained the mandatory Tourist licence. What these landlords do not know however, is that if they get caught this may attract humongous fines which the property owner will be liable for, not the exploiting company, who is too busy counting the banknotes that roll in. For them, it’s a win-win.

Yet in most cases, landlords are oblivious to this foul practice and are blissfully unaware of what their enterprising tenant has been up to with their property. If the tourist Authorities catch wind of your tenant’s holiday rental business, any fines levied will go against your property, and you, as the owner, will be liable for them. Ignorance will not be accepted as an excuse.

The taxman knows

The Spanish Tax Office has reached an agreement with different property portals (i.e. AirBnb) to be supplied with the full details of tenants, check-in dates, agreed lease price etc in an attempt to combat tax evasion. Any non-resident landlord who hasn’t declared and paid tax on their rental income to the Spanish taxman is going to receive a nasty letter later on this year. You should be smart and pre-empt this scenario unfolding on regularizing your undeclared rental income.

Three telltale signs your ‘long-term’ tenant is stitching you up

  • You keep receiving complaints from your Community of Owners over the ‘abusive’ use of your property i.e. excessive noise, loud music.
  • The person/s who open your property door are strangers and are not those mentioned in your long-term lease agreement.
  • Too many different people shuffle in and out of your property at all times of day and night.

 

What can you do if you suspect your tenant is cheating on you?

  • Query the property’s concierge for any suspicious activity relating to your property.
  • Try searching for your property in popular mainstream property portals such as HomeAway, AirBnb etc
  • Hire a private detective to monitor (illegal) property use.

 

How can our law firm support you?

Lawyers can word into long-term contracts clauses that forbid this illegal use of property. In addition, they can assist you on removing the obnoxious tenant who is making a profit on your property at your own expense (tenant eviction service).

 

Our law firm offers a bespoke tax service, for a very competitive fee, which is tailored for holiday rentals (Holiday Rentals Accounting Service). We can reduce your landlord tax bill by a minimum of 40% - or your money back! We will save you more money than what you spend on hiring us. It pays off to be legal.

 

Larraín Nesbitt Lawyers, small on fees, big on service.

Larraín Nesbitt Lawyers is a law firm specialized in taxation, conveyancing, inheritance, and litigation. We will be very pleased to discuss your matter with you. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 951 894 675 or by completing our contact form.

 

Tax services Larraín Nesbitt Lawyers can offer you

 

Rental-related articles


Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.

2.018 © Raymundo Larraín Nesbitt. All rights reserved.

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Last Press Entry:

Non-Resident Taxes in Spain

SpainToday.es, May, 1. 2018

SpainToday.es kindly reproduces our article on Non-Resident Taxes in Spain.

SpainToday is your premiere source for the latest news and updates from Spain. Related to buying your home and property in Spain, moving to Spain or the best holiday tips for Spain. Covering costa to costa.

Our original article can be found published in our website: Non-Resident Taxes in Spain

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