Transferring property to children

Before i start going down the legal route I was wondering if anyone on the forum had transferred their property in Spain to their children.What are the pros and cons and also the cost.

They will need to pay tax on the castral value of the property. I do not think it would be a problem and they would also need their own nie numbers too. They would also be eligible for annual tax.
Hope this helps

Thank you.Doesnt look too complicated

Hope you,ve taken legal advice about this,you could be thrown out of your home through a number of reasons,but the consequences can be desastrous,kids getting divorced bankruptcy etc and just a plain old falling out please think carefully

Gasplumbman wrote:Hope you,ve taken legal advice about this,you could be thrown out of your home through a number of reasons,but the consequences can be desastrous,kids getting divorced bankruptcy etc and just a plain old falling out please think carefully

Sound advice indeed. Sometimes, though your relationship with your children is excellent, it may not be the same with those they choose as partners, where it is far from unusual for problems to occur.
I agree with Gasplumbman, situations can change and what seems impossible today can become reality tomorrow.

You can have a special agreement drawn up to safe guard you as long as your in the property. It's called something like an Uso Fructo. Ask SGM lawyers in Benijofar.

will look into that thank you

Good luck Billtho. Please let us know how you get on.