Legal advice needed

1POSTS

8 years ago

My mother in law is living in Spain and recently diagnosed with Alzheimer鈥檚 . Her property is shared 3 ways with her two sons . Can she transfer her third of the property to her sons without huge taxes so she can com3 back to England to her family . Also how would this be done ?

Any advice gratefully recieved

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Johncar Spain Expert

1412POSTS

8 years ago

Hi,

I cannot tell you for sure the situation as the law changes from time to time+ but as you have not had any replies here goes !

Your mother-in-law could just go back to UK and live there but still be a part owner.聽

There would be taxes if she were to transfer the property to the other part owners. I cannot say for sure what that would be but I would be inclined to ask a notary.聽 If you were to do it you must make the contract before a notary. They can draw up all necessary papers, so no need to employ a lawyer oif any type
.

I assume the lady has made a Will, so if she were to live in UK and do nothing at some time the Will would become active.聽聽

There has been a change in inheritance tax laws, which will apply from 1st January, 2018, which would mean there would very little inheritance tax. Of course the heir/s would then have to re-register the property show who was / were the owners as from then..

Sorry I cannot be more helpful.

Regards聽 John

edpsych Member

22POSTS

8 years ago

Very helpful to me John, could you give me a link to more information about the change in the law regarding inheritance tax.聽

Thanks

Tim

Rafael Berdaguer Abogados New member

7POSTS

8 years ago

I sent you a message

claxnes Contributor

182POSTS

8 years ago

Agree. I would also like the link on the inheritance law change. Thanks.

Johncar Spain Expert

1412POSTS

8 years ago

Not sure if I can post the link, but I have PM'd it

Johncar Spain Expert

1412POSTS

8 years ago

Alzheimer鈥檚聽 or similar.

If a person is not mentally competent to sign legal documents, that would create problems and is something which must be considered.