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V2751-19 8 October 2019 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
OTRO · ajd

Granting mortgage security to SAREB over pre-existing loans is exempt from the progressive AJD instalment

A query was raised regarding whether the creation of mortgage security in favour of SAREB over existing loans is exempt from Stamp Duty (AJD). The DGT ruled that the progressive instalment is exempt as an objective exemption, but the fixed instalment remains subject to the tax.

The question raised

First question raised: Whether the granting of mortgage guarantees in favor of SAREB on pre-existing loans (i.e., loans granted prior to the granting of the guarantee) is exempt from AJD.

The DGT's ruling

The granting of mortgage guarantees in favor of SAREB on pre-existing loans is subject to, but exempt from, the gradual AJD (Stamp Duty) installment. However, the fixed AJD installment shall be subject to and not exempt from the tax, with the mortgage-guaranteed party being the taxable person. In the case of modificatory novations that comply with the requirements of Law 2/1994 and where SAREB is the creditor, the exemption from both the fixed and gradual installments is maintained.

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