EU court finds the Spanish Inheritance and Gift tax discriminatory

The European court has just issued a ruling on the 3rd September which finds that the Spanish Inheritance tax is discriminatory as it applies different regulations depending on whether the heirs or beneficiaries of gifts are residents or non residents. The above mentioned ruling is important as the Inheritance tax is one of the highest in Spain, since the rates go from the minimum of 7,65% up to the 34%, depending on the wealth you get out of the inheritance/gift. The point is that as this tax is partially regional competence, many regions had designed specific tax exemptions for the benefit of those who were resident in their corresponding region. […]

Prevention of conflicts in joint ownership situations

One of the most common and most problematic situations which arise nowadays is the conflict among several joint owners of a property. The most typical case is the non married couple who purchases a house and due to subsequent disagreements starts living independently from each other. What happens if Bill (owner of 50% of the property according to the deeds) gets fed up of the property and wants to have it sold to get “his part” back, of course against Grace’s opinion? And what if Grace had paid the full investment on the property (price and costs!) and Bill had not put a cent? Is there any compensation to the […]