house buying

hi im moving to Quesada this year with my partner, and i wonder if it is better to buy the property in both our names of just one, in respect if anything happens to one of us leaving the house leagally??.

If in one name and one dies, the survivor will be liable to inheritance tax on 100% of the remainder (if the survivor is the one the house name is not in). If in two names, the survivor is assessed on 50% and will receive the inheritance tax allowances (if an official partnership) on that amount.
If you should split, the one whose house the name is in will get it all.
Your personal circumstances will dictate what you do.

As Marcliff says , it is ultimately personal circumstances that should prevail. If you are the non named person you'd want to be sure you are protected in case of a split and also, were your partner to die first , you'd be liable to inheritance tax on the full amount so you should be aware of that. That said, if you are married you already have some protection, at least in UK law you are usually entitled to 50% of assets on splitting anyway. Our house in Spain is entirely in my name and so are all utilities, bank, etc etc. This suited us as it cut down on a lot of the paperwork and meant I could do everything myself without needing power of attorney or both of us having to trail everywhere together for the formalities ( OH loathes dealing with bureaucracy...) That suits us fine, the main point is there is no problems for doing it that way if that suits you, no obstacles to it.

Hi, we will be buying a place near quesada this year
We were going to put it in my wife’s & my name jointly
When we pass away it will be left to our children,
Question I’m asking , should we put in to children’s names now?
Thank you

Kjh wrote:Hi, we will be buying a place near quesada this year
We were going to put it in my wife’s & my name jointly
When we pass away it will be left to our children,
Question I’m asking , should we put in to children’s names now?
Thank you

That would depend on your circumstances, again. Age, residency, retired, how long you think you'll live and so on on.
(OK, last one a bit facetious).
However, one thing to think about. If you have two children you will all own 25%. If one of you passes away, the house would then be split three ways and, saying the husband dies, the children may want the money and the wife would lose her (possibly) main home.
Alternatively, you can each leave it to each other and then have the natural heirs (ie, children) to inherit on the death of the surviving spouse. You can do this by making a will with the stipulation that it will be handled in accordance with UK (or whatever your home country is).
If you don't, Spanish law will share it with the surviving spouse and the children.
In Valencia, if you are over 65 and have it as your main home for over 3 years there is not inheritance tax for the surviving spouse to pay. The children will be liable to inheritance tax but the allowances for children are so high that this would be minimal if any.

Thank you for a detailed reply, we will look into all of
the options you stated, thanks again

thank you all very helpful