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V5156-16 ·29 November 2016 ·consulta-vinculante Medium impact
Tax

Exemption for deed in lieu of foreclosure does not apply if the transferred property is not the main residence

The inquirer asks whether transferring a property as a deed in lieu of foreclosure to cancel a mortgage debt allows for exemptions from Personal Income Tax (IRPF) and the tax on the increase in value of urban land (IIVTNU). The Directorate General for Tax Regulations (DGT) responds that it does not, as the property in question does not constitute the individual's main residence.

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2016-11-29PublishedPublished 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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