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V1045-19 13 May 2019 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
OTRO · iivtnu

IIVTNU must be settled upon the creation of a life usufruct and the transfer of bare ownership

Heirs have requested guidance on how to tax the acquisition of bare ownership and life usufruct following a death. The DGT has ruled that two taxable events occur under the IIVTNU: the creation of the usufruct in favour of the widow and the transfer of the bare ownership to the heirs.

The question raised

For the purposes of the IIVTNU, how must heirs be taxed for the acquisition of the bare ownership at the time of the death of the deceased?

The DGT's ruling

In the IIVTNU, death generates two taxable events: the establishment of the life usufruct and the transfer of the bare ownership. For the tax base of the bare ownership, the portion corresponding to the usufruct is subtracted from the cadastral value in accordance with the rules of the ITP and AJD. In the Wealth Tax, the bare ownership shall be valued by the difference relative to the value of the usufruct.

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