Dissolution of Joint Property Ownership
Are you fed up with your partner? Did you know there is a special procedure in Spain to terminate property co-ownership which can save you up to 80% in taxes? Interested? Read on.
A deed of DJPO allows joint owners to re-arrange their share on any property in a tax-efficient manner as it enables the outgoing joint owner to transfer his share to an existing co-owner legally waiving the extreme 8% Property Transfer Tax and paying in lieu 1.5% Stamp Duty on the full property value. This results in tax savings of up to 86%.
This service is suitable:
- In a divorce or separation.
- Re-arranging inheritances.
- Re-arranging property holdings between family and friends.
What this service includes:
- Making preparations at the Notary.
- Registering updated Title deeds.
- Filing and paying associated taxes.
- Discharging a mortgage on the outgoing joint owner (if applicable).
Legal fees: From €995 (plus VAT).