Welex, the motivated law firm in Marbella, is excited to discuss donation laws in Spain.
Definition of a “donation” in Spain
Article 618 of the Spanish civil code defines a donation as “an act of liberality by which a person has a thing for free in favour of another who accepts it.” Therefore, a donation is a legal negotiation by which a party transmits ownership of a thing to another party for profit or for free.
Its free nature between live contracting parties (inter vivos) distinguishes the donation from other legal businesses, such as purchases and sales (where there is economic compensation) or succession (prompted by the death of an individual).
The thing donated must be owned by the donor at the time of donation; it cannot contain the future assets of the donor. Future goods are those that the donor could not dispose of at the time of the donation.
The donation is achieved the moment the donee (the recipient of the object donated) accepts it. In this way, a donation may be of a movable or immovable property.
A donation of movable property can be made by a verbal or written contract. If the contract is verbal, the thing donated must be delivered at the time of the verbal agreement.
The donation of property must be made by public deed. Please see below essential elements of a donation Title Deed in Spain.
Contents of the donation title deed in Spain
The personal data of the donor and the donee, who will appear personally or duly represented. It is possible that the donee accepts the donation in a deferred manner, that is, after the granting of the deed made by the donor. This acceptance of the donee must also be by public deed, provided the donor is alive at the time of acceptance.
The deed of donation must also include the description of the property donated and the value of each item, as well as the charges the donee must assume (if applicable).
Once the donation title deed has been granted in Spain (and it is accepted by the donee), the corresponding donation tax must be settled, and, where appropriate, paid.
Once the corresponding taxes have been settled, the donation title deed must be presented at the Land Registry corresponding to the place where the real estate is located.
Do not hesitate to contact our law firm in Marbella now!
The post Donations in Spain: Requirements and documentation appeared first on Welex.