Skip to content
Back to index
V0775-24 17 April 2024 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · nuda propiedad

Donation of bare ownership of primary residence by those over 65 is exempt from Personal Income Tax

A query was raised regarding whether the donation of the bare ownership of a primary residence by a person over 65 years of age generates an exempt capital gain. The Directorate General for Taxes (DGT) ruled that, provided the requirements for a primary residence are met, the gain is exempt regardless of the subsequent use of the property.

The question raised

Whether the capital gain obtained by the mother from the donation of the bare ownership of her primary residence would be exempt from Personal Income Tax.

The DGT's ruling

The donation of bare ownership generates a capital gain or loss by altering the composition of the assets. If the property is the donor's primary residence (according to the three-year residency requirements or having been so in the previous two years) and the person is over 65 years of age, the capital gain resulting from the donation of the bare ownership is exempt. This exemption applies regardless of the subsequent use of the property.

Book your free first meeting