Take into account that in the Canary Islands the Transfer Tax is the 6,5% (year 2021) from the purchase price or from the value of the property. In order to pay less in this particular case, the dissolvement of the community or from the joint ownership, it is the proper real estate operation to choose. The fiscal consequences are lower. In fact, the taxation applicable will be the Stamp Duty Tax (0,75%) and Notary, Land Registry and Solicitors Fees.
J.M. Bosch
Lawyer
