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V3931-16 ·19 September 2016 ·consulta-vinculante Medium impact
Tax

Exemption for those over 65 does not apply without full ownership of the property

A couple over the age of 65, where one holds bare ownership and the other holds a life interest, inquired whether they could apply for the exemption regarding the transfer of a primary residence. The Directorate General for Taxes (DGT) ruled that they cannot apply for the exemption because tax benefits related to the primary residence require full ownership of the property.

In 6 key points

How it affects those involved

This ruling clarifies that partial ownership, such as bare ownership or usufruct, is insufficient to qualify for tax exemptions on the sale of a primary residence for individuals over 65, as full legal title is a mandatory requirement.

Lifecycle

2016-09-19PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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