Consultorio de herencias | Extinción de condominio explicada

In the inheritance advice column, Itziar Pernía, managing partner of Legal por Naturaleza, explains how the dissolution of joint ownership works. No heir is obligated to remain in a joint ownership arrangement, so they can request the division of the jointly owned property to distribute the inherited assets. In these cases, the property can be awarded to one of the heirs, compensating the others. From a tax perspective, municipal capital gains tax is not generated for the seller of their share, but rather for the buyer. Transfer Tax (ITP) also does not apply, although capital gains must be declared in the following tax year, and notary and registry fees must be shared. #inheritance #jointownership #jointownership #law #lawyers #taxes #heirs #housing #legal #advice