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Property Law Wills & Probate

¿Is it mandatory to settle Inheritance Tax to inherit a timeshare in Spain?

Yes, whether it was acquired in a private document or in a public document (before a Notary Public).

The timeshare has an economic value and can be transferred to third parties on the market, so it must be reflected when receiving an inheritance in Spain and taxes must be paid based on the total value of the inheritance.

Holiday Complex – Timesharing

To this end, it is advisable to know in advance which inheritance documents the beneficiary of the inheritance would need in order to process the inheritance.

These include the death certificate, the certificate of last will and testament, made in Spain or in the country of origin. In the absence of a will, you will need to obtain the title or document that certifies who the heirs are according to the law of your country (Erbschein, Probate, etc.).

For further queries, do not hesitate contacting us at info@teneriwills.com

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