Legal advice needed

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Member since 15 October 2017

Smith782811Member15 October 2017 19:19:44

My mother in law is living in Spain and recently diagnosed with Alzheimer’s . 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

Johncar Spain expert

Member since 25 November 2013

JohncarSpain expert18 October 2017 08:30:31

1412

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.

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. 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.

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 John

edpsych Member

Member since 28 September 2016

edpsychMember18 October 2017 08:51:35

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

Thanks

Tim

Rafael Berdaguer Abogados New member

Member since 04 July 2017

Rafael Berdaguer AbogadosNew member18 October 2017 09:09:59

I sent you a message

claxnes Contributor

Member since 22 May 2016

claxnesContributor18 October 2017 09:10:00

182

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

Johncar Spain expert

Member since 25 November 2013

JohncarSpain expert18 October 2017 09:16:17

1412

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

Johncar Spain expert

Member since 25 November 2013

JohncarSpain expert18 October 2017 09:46:49

1412

Alzheimer’s or similar.

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

claxnes Contributor

Member since 22 May 2016

claxnesContributor18 October 2017 11:08:35

182

Got it. Thanks.

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