Inheritance and Gift tax in the Valencian Community

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In an unprecedented move, the newly formed coalition government of the Valencian Community has announced the elimination of Inheritance and Gift Tax for first-degree relatives. The measure aims to ease the financial burden on families, allowing them to inherit or receive donations without having to pay these taxes. Here you have the official information.

Previously, the Inheritance Tax had a general 50% rebate, but now a 99% rebate will be implemented for children, spouses, fathers and mothers. This means that transfers of property between these family members will be practically tax-free in the region.

The repeal of the tax will apply retroactively from the date of the regional elections. The decision responds to the growing trend of people opting out of inheritances due to the associated tax burden. It is anticipated that this measure will encourage more people to accept inheritances and gifts without financial worries.
Despite the budgetary implications, it has been stressed that the impact on public finances will be minimal. The revenue generated by these taxes represented only 1% of total public revenue in the region.

This resolution is part of a series of measures taken by the new government to simplify administration and prioritise social policies that directly benefit citizens. These actions are expected to have a positive effect on the economy and improve public services in the Valencian Community.

In summary, the elimination of Inheritance and Gift Tax for first-degree relatives is a significant decision aimed at easing the financial burden on families and encouraging the acceptance of inheritances and gifts in the region. The government is confident that this measure will contribute to the economic well-being of its citizens and stimulate growth in the Valencian Community.

Contact us if you need help with your inheritance or gift in Alicante, Torrevieja, Altea or any areas in the Valencian Community.

13 March 2024/by adminccab

SUING A BUILDER

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SUING A BUILDER WHO HAS NOT COMPLETED THE WORK IN ACCORDANCE WITH THE CONTRACT

The legal procedure for suing a builder who has not completed the work in accordance with the contract in Spain generally follows a series of legal steps. Here is an overview of the process for suing a builder:

1. Review of the contract: Before taking legal action, it is essential to carefully review the contract entered into between the parties. The contract should contain details about the time frame for completion, the specifications of the work, and dispute resolution mechanisms.

2. Formal communication: Before initiating legal action, we recommend sending a formal letter to the builder expressing concerns, detailing the violations of the contract and setting a reasonable deadline to correct the situation. This step can be helpful in resolving the dispute amicably before resorting to the courts.

3. Technical expertise: In many cases, it may be necessary to hire an independent technical expert to assess the condition of the work and provide an expert report to support the claim. This report can be crucial in the court process.

4. Initiate legal action: If formal communication and negotiations do not resolve the problem, you can initiate legal action by filing a lawsuit in the appropriate court. It is therefore advisable to seek the advice of a lawyer specialising in construction law to guide the process.

5. Evidence and arguments: During the court process, both parties will present evidence and allegations to support their arguments. This may include contractual documents, expert reports, correspondence and any other relevant items.

6. Judgment: Once the trial is held, the court will issue a judgment that will determine the outcome of the case. Depending on the court’s decision, the judgment could determine that the builder completes the work as stipulated in the contract. Another option, and the most advisable, is to award damages or take other remedial action.

It is important to note that the process may vary depending on the jurisdiction and the complexity of the case. Specialist legal advice from Cc Lawyers is essential to ensure that all steps are carried out correctly and to maximise the chances of obtaining a favourable resolution.

19 February 2024/by adminccab

Advisable to hire a lawyer

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It is highly advisable to hire a lawyer when buying a property in Spain, especially if you are not a Spanish resident or familiar with the legal processes in the country. Here are several reasons why having a lawyer Alicante is crucial:

1. Legal Guidance :

– Advisable to hire a lawyer. Spanish property transaction involves complex legal procedures, and having a lawyer can provide you with expert guidance through each step of the process.

2. Documentation Review :

– Your lawyer can review all the legal documents related to the property, ensuring that everything is in order. This includes the property deeds, land registry information, and any necessary permits.

3. NIE Number Acquisition :

– Your lawyer can assist in obtaining the NIE number, a crucial requirement for non-residents in Spain when engaging in financial or legal transactions, including property purchases.

4. Contract Review and Negotiation :

– Your lawyer can review the purchase contract, explaining its terms and conditions to you and negotiating on your behalf to ensure your interests are protected.

5. Verification of Property Ownership :

– A lawyer will verify that the seller has legal ownership of the property and has the right to sell it. This helps prevent potential legal issues and disputes in the future.

6. Tax Implications :

– Your lawyer can provide advice on the tax implications of the property purchase, including any applicable property taxes and capital gains taxes.

7. Representation at Closing :

– Your lawyer can represent you at the closing, ensuring that all necessary documents are signed, and the transaction is completed according to the agreed-upon terms.

8. Resolution of Legal Issues :

– In the event of any legal issues or disputes arising during or after the transaction, having a lawyer ensures that you have legal representation to address and resolve these matters.

While hiring a lawyer adds to the overall cost of the property purchase, the investment is worthwhile for the peace of mind

and legal protection it provides .

Make sure to choose a lawyer who specializes in real estate

and has experience working with international clients in Spain. Advisable to hire a lawyer Cc Lawyers

4 December 2023/by adminccab

Reference value in Spain

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5 September 2023/by adminccab

USUCAPION-Acquisition of ownership by long use and continued possession – Spain

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USUCAPION-Acquisition of ownership by long use and continued possession – Spain

If we go to the etymology of the term, we can clearly understand its meaning: usucapion comes from the Latin words usus (use) and capere (acquire).

That is, if a person of legal age and legal capacity possesses an object without being its owner (normally real estate but it can be applied to any property) for a certain time, and under specific circumstances, through usucapion you can become the owner of said object.

It may happen that this object did not have a previous owner (typical case of unregistered land) or that it had a previous owner who, for whatever reason, would have allowed his right to expire.

Types of usucapions

The Spanish Civil Code establishes two types of usucapions: ordinary and extraordinary.

Ordinary usucapion requires a shorter prior possession – twenty years – but in return it entails two requirements: that the possessor acts in good faith and that he holds a fair title. We will expand on these concepts later.

The extraordinary usucapion requires a greater possession – thirty uninterrupted years – but in this case the two requirements that are requested in the ordinary one would no longer be necessary. Precisely for this reason and despite its name, the extraordinary is much more frequent than the ordinary.

Usucapion procedure in Spain

Obviously, to acquire a property or land through usucapion it is necessary to initiate a judicial procedure.

In this type of procedure – we are thinking of extraordinary usucapion, which paradoxically is the most common – the probative cornerstone is usually the one that allows proof of possession of more than three decades, which must also be uninterrupted.

We must focus on finding evidence that we owned that property more than thirty years ago, and that we also currently occupy it. We can use the payment of the ibi tax (tax on real estate paid every year), utility bills (water and electricity supply), invoices, etc.

If the Judge finds that we have enough evidence and we have proven the right, we will have a Judgment that will allow us to register our property in the Land Registry.

If this is your case, please contact us so we can help you register the property

21 February 2023/by adminccab